FG, States, Others Share N2.27trn In Q3, 2019
The Federation Account Allocation Committee disbursed N2.27trn to the three tiers of government and other statutory recipients from July to September this year.
According to the Nigeria Extractive Industries Transparency Initiative, the disbursement was 18.79 per cent higher than the N1.913tn disbursed in the second quarter of 2019 and 17.81 per cent higher than the N1.93tn disbursed in Q1.
These information and data are contained in NEITI’s latest quarterly review released in Abuja on Monday.
The report used data obtained from FAAC and the National Bureau of Statistics.
It report noted that for the first time since Q4 2018, total FAAC allocations exceeded N2tn in a quarter.
Combining this with disbursements in previous quarters showed that FAAC disbursements exceeded N2tn in four of the last six quarters.
“The last time this happened was in the third quarter of 2014. This is a big improvement compared to the N886.48bn recorded in Q2 2016. However, it is still lower than N2.61tn of Q1 2013,” the report stated.