Home News FAAC shared ‘N1.92tr to three tiers in three months’

FAAC shared ‘N1.92tr to three tiers in three months’

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According to record of the National Bureau of Statistics (NBS), the Federation Account Allocation Committee (FAAC) has disbursed N1.92 trillion to the three tiers of government in the first quarter of this year.

The NBS figures are allocations by the FAAC for the months preceding when they were shared. For instance, allocation by FAAC for the December 2018 was shared in January, 2019 and so for the other two months of February and March.

The NBS figures which tallied with the figures from the Office of the Accountant General of the Federation (OAGF) said FAAC disbursed N649.19 billion to the three tiers of government in January, 2019 (December 2018); N660.37 billion in February (January 2019) and the sum of N619.86 was distributed to the three tiers in March (February 2019). FAAC Allocations for March 2019 will be done later this month.

Of the N1.92 trillion so far disbursed, the Federal Government has received N803.18 billion in the three months, states have received N530.14 billion while the local governments have received N398.43 billion.

Interestingly, in January 2019, Delta State received the highest allocation of N17, 360,640,513.62 excluding the N3, 862,469,150.06 the state collected on behalf of its 25 local government areas.

Osun State got the lowest allocation of N1, 730,201,728.81 aside the N3, 886,506,134.26 it collected on behalf of the 30 local government areas of the state.

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