THE Federation Accounts Allocation Committee (FAAC) disbursed N1.95 trillion to the Federal, states, local governments and other statutory
HE Federation Accounts Allocation Committee disbursed N1.95 trillion to the Federal, states, local governments and other statutory agencies in the first quarter of the year.
The NEITI report also notes that the disbursements are the highest in the first quarter since 2014. “Total disbursements were N1.648 trillion in Q1 2015, N1.132 trillion in Q1 2016, N1.411 trillion in Q1 2017, N1.938 trillion in Q1 2018, and N1.929 trillion in Q1 2019,” the publication stated. NEITI noted that from the previous years, with the exception of 2018, the trend since 2015 had been that total disbursements fell in the second quarters, before rising in the third quarters. It also noted that with the COVID-19 pandemic, it is almost certain that total disbursements will fall in the second quarter of the year.
According to the NEITI Quarterly Review, 31 states received less than N20 billion as total net FAAC disbursements in the first quarter of this year while only five states received more than N20 billion. The States are Lagos , Bayelsa , Rivers , Akwa Ibom , and Delta respectively.
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