The Federation Account Allocation Committee (FAAC) disbursed N2.273 trillion to the three tiers of government and other statutory recipients between July and September this year.
The disbursement was 18.79 per cent higher than the N1.913trn disbursed in the second quarter of 2019 and 17.81 per cent higher than the N1.929trn disbursed in the first quarter of the year.
The information was contained in the latest edition of the Quarterly Review by the Nigeria Extractive Industries Transparency Initiative (NEITI). It was released in Abuja by the spokesman of NEITI, Dr. Orji Ogbonnaya Orji recently.
The report used data obtained from FAAC and the National Bureau of Statistics (NBS).
“The last time this happened was in the third quarter of 2014. This is a big improvement compared to N886.48 billion recorded in 2016 Q2. However, it is still lower than N2.607 trillion of 2013 Q1”, the review further noted.
A breakdown of the N2.273 trillion disbursed in the last quarter of 2019 showed that the Federal Government (FG) received N920.2 billion, while the states and local government received N724.16 billion and N44.19bn respectively.
A closer examination showed that the amount received by FG in the third quarter of 2019 was 15.6% higher than the N795.84 billion it received in the second quarter. It was also 14.6% higher than the N803.13 billion it received in the first quarter of the same year. For states, the amount received during the third quarter of 2019 was 9.6% higher than the N660.2 billion received in the second quarter, and also 7.3% higher than the N675.2 billion received in the first quarter of the same year.
The amount received by the local governments for the same period was 12.02% higher than the N393.95 billion received in the second quarter and 10.73% higher than the N398.44 billion received in the first quarter.
