Nigerian Extractive Industry Transparency Initiative, NEITI
Nigerian Extractive Industry Transparency Initiative, NEITI

The Nigeria Extractive Industries Transparency Initiative, NEITI says the Federal, States, Local Governments and other statutory recipients by the Federation Accounts and Allocation Committee, FAAC shared about 8.15 trillion naira in 2019.

NEITI in its quarterly report, said the figure is 377 billion naira or 4.42 per cent lower than the 2018 figure of 8.524 trillion naira, but 1.728 trillion naira or 26.92 per cent higher than the total disbursements of 6.419 trillion naira made in 2017.

Out of this amount, it said the Federal Government received 3.37 trillion; the 36 states got 2.761 trillion naira, while the 774 local governments shared 1.649 trillion naira of the total disbursements.

The publication which examined FAAC Disbursements to the Federal, States and Local governments in 2019, compared to the disbursements of the previous years and made projections for the year 2020.

It noted that in line with the revenue sharing formula, the FG received the highest disbursements from FAAC while local governments got the lowest.