N3.84TRN SHARED BY FEDERAL, STATES, LGS IN SIX MONTHS –NEITI

N3.84TRN SHARED BY FEDERAL, STATES, LGS IN SIX MONTHS –NEITI

The Nigeria Extractive Industries Transparency Initiative has said that the Federal Government, states and local governments across the country received a total of N3.84trn as allocations between January and June 2019.

In a statement by NEITI’s Director, Communications and Advocacy, Orji Orji, it was disclosed that the Federal Government received N1.599trn, the 36 states got N1.335trn while the 774 local government areas of the country shared N792bn during the period under review.

The FAAC disbursement of N3.84trn for the first half of 2019 was slightly lower than the N3.94trn disbursed during the same period in 2018 but higher than the N2.78trn disbursed in the first half of 2017.

On a quarter on quarter basis, the second quarter of 2019 was the lowest since the fourth quarter of 2017.

The statement said, “The quarterly FAAC disbursements from Q1 2013 to Q2 2019 reveal that the total disbursement of N1.913trn in the second quarter of 2019 was the lowest since the fourth quarter of 2017 when N1.700trn was disbursed.

“The figure shows that three quarters of 2018 had total disbursements above N2trn.”

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