FAAC disbursement hits five quarter low

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Disbursements from the federation accounts allocation committee (FAAC) hit a five-quarter low in the second quarter of 2019.

This is according to latest report from Nigeria Extractive Industries Transparency Initiative (NEITI).

According to NEITI, the three tiers of government shared N1.91 trillion in the second quarter of 2019, which is lower than the N1.92 trillion and N2.99 trillion disbursed in the first quarter of 2019 and the fourth quarter of 2018.

“The figure reveals that the total disbursement of N1.913 trillion in the second quarter of 2019 was the lowest since the fourth quarter of 2017 when N1.700 trillion was disbursed,” the report read.

According to the document, a total of N3.842 trillion was shared between the three arms of government in the first half of 2019 with the federal government receiving N1.59 trillion, states, N1.33 trillion; and local governments, N792 billion.

The disbursement due to state and local governments are determined by landmass, population, internally generated revenue and social development factor.




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