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FAAC disburses N3.9trn to govts in H1’18

Total funds disbursements to the three tiers of government from the Federation Accounts Allocation Committee, FAAC, in the first half of 2018, H1’18, stood at N3.95 trillion, a huge 41.4 per cent jump over the N2.8 trillion disbursed in the corresponding period of 2017, H1’17. According to data released yesterday by the Nigeria Extractive Industries Transparency Initiative, NEITI, the federal government, FG, received N1.652 trillion, about 41.8 per cent of the total amount disbursed; the 36 states of the federation got a combined figure of N1.375 trillion, representing 34.8 per cent of the total; while the 774 local governments got a total of N795 billion representing 20.1 per cent of the total. In overall the report indicates that there has been steady rise in government revenue quarter-on-quarter, QoQ, since 2014. It stated: “The N2.008 trillion disbursed in second quarter 2018 was the highest since third quarter 2014. In fact, second quarter 2018 was the first time an amount in excess of N2 trillion was disbursed since third quarter 2014.Poor-people.png Delta State, Akwa Ibom, Rivers and Bayelsa, received the highest allocation from the FAAC in the H1’18 period. NEITI, in its Quarterly Review, titled, ‘Highlights of Federation Account Allocation Committee, FAAC, disbursements in second quarter and half year 2018’, disclosed that the four states received a total of N364.25 billion, representing 9.23 per cent of total disbursements in the first half of 2018. According to the NEITI report, Delta State, received the highest allocation of N101.19 billion in the six-month period, followed by Akwa Ibom with N100.2 billion; Rivers State with N85.01 billion, while Bayelsa received N77.14 billion. In addition, in the top ten category are Lagos N59.52 billion, Kano N39.88 billion, Edo N32.88 billion, Kaduna N32.86, Ondo N30.96 billion and Borno N30.04 billion. Conversely, the report revealed that the 10 states with the least federation allocation received a total of N189.45 billion, about six per cent less than the N201.39 billion total allocation received by only two states, Delta and Akwa Ibom. Osun State received the least allocation in the six-month period with N10.24 billion, while Cross River, Ekiti, Zamfara and Ogun states received N17.13 billion, N17.92 billion, N18.64 billion, N18.79 billion respectively. Others include Plateau, Gombe, Kwara, Ebonyi and Taraba, with allocation of N20.6 billion, N20.64 billion, N21.39 billion, N21.61 billion and N22.49 billion respectively.
https://olaworld.blog/2018/09/11/faac-disburses-n3-9trn-to-govts-in-h118

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