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FAAC shared N8.15tr to Fed Govt, states, LGA in 2019 - Seemberg News

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FAAC shared N8.15tr to Fed Govt, states, LGA in 2019

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Fed Govt, states, councils, revenue agencies  share N716.3b

THE sum of N8.15 trillion was shared between the Federal, States, Local Governments and other statutory recipients by the Federation Accounts and Allocation Committee (FAAC) in 2019.

This figure is N377billion or 4.42 percent lower than the 2018 figure of N8.524trillion, but N1.728trillion or 26.92 percent higher than the total disbursements of N6.419trillion made in 2017.

Out of this amount, the Federal Government received N3.37 trillion, representing 41.4 percent  of total disbursements; the 36 states got N2.761 trillion (33.9 percent ) while the 774 local governments shared N1.649 trillion (20.2 percent) of the total disbursements.

The information and data are contained in the latest edition of the NEITI Quarterly Review released in Abuja on Thursday by the Nigeria Extractive Industries Transparency Initiative.

The Director, Communications & Advocacy, Dr. Orji Ogbonnaya Orji, disclosed this in the statement issued in Abuja.

The publication which examined FAAC Disbursements to the Federal, States and Local governments in 2019, compared the disbursements of the previous years and made projections for the year 2020.

From the publication, and in line with the revenue sharing formula, the FG received the highest disbursements from FAAC while local governments got the lowest.

It further disclosed that revenue shared to the three tiers of government in the two previous years 2018 and 2017 followed the same pattern. “For 2018, total disbursements to FG, states, and local governments were N3.483 trillion, N2.850 trillion, and N1.667 trillion, respectively. For 2017, disbursements were N2.563 trillion to FG, N1.859 trillion to states, and N1.502 trillion to local governments”.

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