On prospects of FAAC disbursements for the rest of the year as a result of the impact of COVID-19, the review remarked: “In light of the ‘double whammy’
of declining oil demand and crude oil prices as a result of the COVID-19 pandemic, government revenue would likely continue to fall in subsequent months.
The report gave the projected total revenue for the Federal Government for the year at N8.42 trillion, comprising oil revenue of N2.64 trillion, non-oil , and revenue from other sources . Apart from the direct oil revenue, the report said revenue from indirect sources includes signature bonus, oil license renewals and share of dividend from the Nigeria LNG.
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