Thursday, July 18, 2019
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FG, States, others shared N1.9 trn in 3 months -NEITI


The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018.The amount shared represented an increase of 37.3 percent when compared with N1.411 trillion shared during the same period in 2017 and 71.1 per cent of the N1.132 trillion shared in the same quarter of 2016.

Governors, ministers, eggheads from the federal, states and local governments across the country, among others, will on Tuesday converge on Abeokuta, the Ogun State capital, to examine available options open to shore up government revenue streams, especially in an environment of dwindling earnings from crude oil.

The Federal Government yesterday shared the sum of N345.095 billion with the the States and Local Governments for the month of February.
The amount was short of N25.293 billion from the N370 billion shared in the preceding month.
A breakdown of the figure showed that federal Government received N127.200 billion, States received N64 billion, while Local Governments got N49.740 billion.

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