Government Shares N3.842 trillion in H1 2019
An analysis of the FAAC disbursements for the first half of 2019 showed the three tiers of government shared a total of N3.842 trillion in the period under review.
Naija News reports that FAAC means Federation Account Allocation Committee and is responsible for the distribution of revenue accruing to the Federation Account among the Federal, States and the Local Governments.
It is understood that the figure was 2.61% lower than the N3.946 trillion disbursed in the first half of 2018 but 37.79% higher than the N2.788 trillion disbursed in the first half of 2017.
Of the total amount disbursed, the Federal Government received the highest revenue, followed by state governments, with local governments receiving the lowest share.
Out of the N3.842 trillion realized, the federal government received N1.599 trillion, representing 41.61% of the total amount disbursed, the state governments received N1.335 trillion as a share of the national revenue while local governments received N792 billion.
According to an analysis by the Nigeria Extractive Industries Transparency Initiative (NEITI), the five states that received the highest allocations were Delta, Akwa Ibom, Bayelsa, Rivers, and Lagos states.
Below is a breakdown of the five Nigerian states with the highest revenue share within the period:
2. Akwa Ibom
N 86.12 billion