2019 Budget: NEITI Laments That FAAC, IGR Cannot Fund 28 States - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
May 13, 2019
The Nigeria Extractive IndustriesTransparency Initiative, NEITI has said the 2019 budgets as already presentedby thirty five states cannot be adequately funded even by combined netFederation Allocation Account Committee, FAAC disbursements to each state in2017 and 2018.
NEITI in its latest Quarterly Reviewreleased in Abuja also noted that total state revenues FAAC and InternallyGenerated Revenue, IGR in 2017 and 2018 cannot fund 2019 budgets of twentyeight states.
NEITI Spokesman Orji Ogbonnaya Orji saidthere is no state whose net FAAC disbursements in either 2017 or 2018 canadequately finance their budgets for 2019, Net disbursements to states in 2017as a percentage of the 2019 budgets ranged between two point two five per centfor Cross River and forty three appoint one per cent for Yobe states.
According to the NEITI, the gap in theability of FAAC disbursements to finance state budgets has made it inevitablefor most of the states to rely more on borrowing as against the urgency ofembarking on creative measures to improve internally generated revenues (IGR).