Home Business FG, states, LGAs shared N3.88trn in H1 2020, says  NEITI

FG, states, LGAs shared N3.88trn in H1 2020, says  NEITI

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The Nigeria Extractive Industries Transparency Initiative (NEITI) said on Tuesday that the three tiers of government and other statutory recipients received N3.879 trillion from the Federation Accounts Allocation Committee (FAAC) in the first half of this year.

NEITI, which disclosed this in its quarterly review, said the Federal Government received N1.53trillion while the states and the 774 local government areas got N1.29 trillion and N771.34billion respectively.

According to the agency, the N1.53 trillion received by the federal government during the period was 4.28 percent lower than the N1.599 trillion collected in the corresponding period of 2019, and 7.36 percent lower than the N1.652 trillion received in 2018. The same applied for states and the LGAs.

NEITI said: “For states, a total of N1.298trillion was disbursed in the first half of 2020. This was 2.8 percent lower than the N1.35trillion disbursed in the first half of 2019, and 5.6 percent lower than the N1.375trillion disbursed in the first half of 2020.

“For local government areas, the 2020 first half disbursements were 2.64 percent and 3.04 percent lower than the corresponding disbursements for 2019 and 2018 respectively.”

The agency noted that disbursements in the second quarter of this year were 1.09 percent higher than total disbursements in the corresponding period of 2019 and 3.66 percent lower than in 2018.

The FAAC disbursements to the three tiers of government and other statutory recipients in the second quarter of 2020 were pegged at N1.934trillion.

 

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