FAAC Disburses N3.88trn To FG, States, Others In First Half Of 2020

The Federation Accounts Allocation Committee (FAAC) shared N3.879trillion to the Federal Government, states, local government areas and other statutory recipients in the first half of 2020.
A breakdown of the disbursements showed that N1.53trillion went to the Federal Government, while the states got N1.29trillion and the 774 local government areas received N771.34billion.
The information and data are contained in the latest edition of the quarterly review of the Nigeria Extractive Industries Transparency Initiative (NEITI) released, in Abuja.
NEITI Director, Communications and Advocacy, Dr. Orji Ogbonnaya Orji, made this known in a statement, yesterday.
According to him, the “NEITI Quarterly Review reports that the N1.53trillion received by the Federal Government in H1 2020 was 4.28% lower than the N1.599trillion it got in the first half of 2019 and 7.36 per cent lower than the N1.652trillion it received in the first half of 2018.”
The story is the same for the states and local government areas.
“For states, a total of N1.298trillion was disbursed in the first half of 2020. This was 2.8 per cent lower than the N1.35trillion disbursed in the first half of 2019, and 5.6 per cent lower than the N1.375trillion disbursed in the first half of 2020”, the report stated.
For local government areas, the 2020 first half disbursements were 2.64 per cent and 3.04 per cent lower than the corresponding disbursements for 2019 and 2018, respectively.
The report, however, noted that disbursements in Q2 2020 were 1.09 per cent higher than total disbursements in Q2 2019 and 3.66 per cent lower than the one for Q2 2018.
The FAAC disbursements in the second quarter of 2020 stood at N1.934trillion.