This represents a 1.42 per cent increase, equivalent to N46.77 billion, from the N3.426 trillion disbursed in the first quarter of the year.
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According to NEITI’s Quarterly Report on Federation Account Revenue Allocations for the second quarter, this uptick is attributed to steady revenue inflows into the Federation Account from various sources. “The objective is to enhance awareness and foster transparency in the management of public resources,” Mr Orji was quoted as saying.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.He called on civil society organisations to step up their efforts in tracking government expenditures and monitoring allocations across all government tiers.The report showed that of the N3.
NEITI also observed a fluctuating pattern in monthly allocations, with disbursements rising from N1.094 trillion in January 2024 to N1.098 trillion in February, only to dip slightly to N1.065 trillion in March.Delta State topped the list of beneficiaries, receiving N137.357 billion in the second quarter, followed by Lagos with N123.282 billion, and Rivers at N108.104 billion.Among local governments, Alimosho in Lagos State was allocated the highest amount, N5.
Additionally, NEITI advised states to adopt more realistic budget benchmarks for oil production and exports to mitigate the risks associated with volatile global prices.
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