ABUJA, DECEMBER 4, 2017 – DIRECTOR Communications, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji has said the total sum of N4.545 trillion was disbursed as Federation Allocation Account Committee (FAAC) FAAC allocations between January and September 2017.
He said Out of this amount, N1.757 trillion was shared in the third quarter of 2017 as against the N1.377 trillion and N1.411 trillion disbursed in the second and first quarters of the year adding the information is contained in the latest Quarterly Review of NEITI.
In a statement made available to The Nation Ogbonnaya Orji said the publication which contained information and data on FAAC disbursements for the third quarter of 2017 and on mid-year budget implementation also showed that between January and September 2017, the federal government received the highest allocation of N1.851.32 trillion, followed by state governments with N1.509 trillion and the 774 local governments with N913.8 billion adding the sum of N271.78 billion went to the Department of Petroleum Resources (DPR), Customs and the Federal Inland Revenue Services (FIRS) as cost of revenue collections.
He said further analysis showed that the revenues shared to the federating units were higher in the third quarter of 2017 which according to him has been the pattern for some years now.
While the federal government got N549.41billion in the second quarter of 2017, third quarter figures were N752.79billion, an increase of 37.02per cent. According to him, the trend is the same for the states and local governments which he said received N586.58billion and N363.98 billion in the third quarter as against N467.13 and 280.42 billion in the second quarter respectively adding the percentage increases between the two quarters for the two tiers of government were 25.57per cent and 29.80per cent respectively.