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Market Digest Nigeria

Finance

The three levels of Government shared N8.15tn in 2019 – NEITI

A total of N8.15tn was shared between the federal, states, local governments and other statutory recipients by the Federation Account Allocation Committee in 2019.

A statement released by the Nigeria Extractive Industries Transparency Initiative on Thursday said the amount shared in 2019 was lower than the N8.52tn disbursed in 2018 by N377bn, or 4.42 per cent. Out of the N8.15tn shared in 2019, the Federal Government received N3.37tn, representing 41.4 per cent of total disbursements, while the 36 states got N2.76tn (33.9 per cent).

The 774 local government councils shared N1.65tn, 20.2 per cent of the total amount shared. Details of the 2019 FAAC allocations was contained in the latest edition of the NEITI Quarterly Review released in Abuja on Thursday, according to the statement signed by Orji Ogbonnaya Orji, Director, Communications and Advocacy.

The report, which examined FAAC disbursements to the three tiers of government in 2019, compared the disbursements of the previous years and made projections for the year 2020. According to NEITI, revenue shared to the three tiers of government in the two previous years 2018 and 2017 followed the same pattern. The report said, “For 2018, total disbursements to the Federal Government, states, and local governments were N3.48tn, N2.85tn, and N1.67tn respectively.

“For 2017, disbursements were N2.56tn to FG, N1.86tn to states, and N1.5tn to local governments.”

The total disbursement to the Federal Government in 2019 were 3.08 per cent lower than the disbursement in 2018, but 31.69 per cent higher than those in 2017.

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