FG, States received N3.88tn from FAAC in six months

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The Federation Accounts Allocation Committee (FAAC) on Tuesday said it shared N3.879 trillion to the Federal Government, States, local government areas, and other statutory recipients in the first half of 2020.

In a statement by the committee’s Director, Communications and Advocacy, Orji Ogbonnaya, the Federal Government received a total of N1.53 trillion while the states got N1.29 trillion and the 774 local government areas received N771.34 billion. Mr Orji stated that the figures, based on the latest edition of the quarterly review of the Nigeria Extractive Industries Transparency Initiative (NEITI), were very volatile.

Giving a further breakdown, Mr Orji explained that the N1.53trillion received by the FG in H1 2020 was 4.28% lower than the N1.599 trillion it got in the first half of 2019 and 7.36% lower than the N1.652 trillion it received in the first half of 2018.

Similarly, he stated that it was the same “for states, a total of N1.298 trillion was disbursed in the first half of 2020. This was 2.8% lower than the N1.35 trillion disbursed in the first half of 2019, and 5.6% lower than the N1.375 trillion disbursed in the first half of 2020.

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