Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
‘Fed Govt, states, councils shared N3.88tr in six months
#1
‘Fed Govt, states, councils shared N3.88tr in six months’
• Shared N1.93tr in Q2
September 9, 2020


[/url][Image: Zainab-Ahmed-2-750x375.jpg]
[url=https://thenationonlineng.net/wp-content/uploads/2020/06/Zainab-Ahmed-2.jpg]






THE Federation Accounts AllocationCommittee (FAAC) has shared N3.879 trillion to the Federal Government, states, local government areas and other statutory recipients in the first half of this year.

A breakdown of the disbursements showed that N1.53 trillion went to the Federal Government, while the states got N1.29 trillion and the 774 local government areas received N771.34 billion

The information and data are contained in the latest edition of the quarterly review of the Nigeria Extractive Industries Transparency Initiative (NEITI) released yesterday in Abuja.

Its Director, Communications and Advocacy, Dr. Orji Ogbonnaya Orji, in a statement said the “NEITI Quarterly Review reports that the N1.53trillion received by the FG in H1 2020 was 4.28per cent lower than the N1.599 trillion it got in the first half of 2019 and 7.36per cent lower than the N1.652 trillion it received in the first half of 2018.”

The story is the same for the states and local government areas. “For states, a total of N1.298 trillion was disbursed in the first half of 2020. This was 2.8per cent lower than the N1.35 trillion disbursed in the first half of 2019, and 5.6per cent lower than the N1.375 trillion disbursed in the first half of 2020,” the report stated.

For local government areas, the first half disbursements were 2.64per cent and 3.04per cent lower than the corresponding disbursements for 2019 and 2018.

The report, however, notes that disbursements in Q2 2020 were 1.09per cent higher than total disbursements in Q2 2019 and 3.66per cent lower than the one for Q2 2018.

FAAC disbursements in the second quarter of 2020 stood at N1.934 trillion. This was made up of N739.2 billion to the Federal Government, N629.3 billion to state governments, and N375.4 billion to the 774 local government areas.

The report pointed out that the total FAAC disbursements in the second quarter of 2020 was slightly lower than the N1.945 trillion disbursed in the first quarter of 2020. This aligned with the projections made in the previous issue of the NEITI Quarterly Review, which projected lower FAAC disbursement in the second quarter.


The NEITI report attributed the 0.55per cent decrease in Q2 2020 to a couple of factors, namely: “Rebound in oil prices in the second quarter as a result of ease of lockdowns by countries across the world and the adjustment of the official exchange rate by the CBN from N307/$1 to N360/$1 in March resulting in higher naira disbursements.”

The report also said FAAC disbursements in the first and second quarters of 2020 were very volatile, with the difference in total disbursements between months ranging between N58.9 billion and N199.3 billion.

 
Reply
{myadvertisements[zone_3]}
#2
Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include.
kodi free tv
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  FAAC shares N601.1b to federal, states, councils Edoman 0 63 12-17-2020, 09:17 AM
Last Post: Edoman
  Govt halts retrenchment of 300 Arik Air staff Edoman 0 114 12-11-2020, 12:38 PM
Last Post: Edoman
  FIRS rakes in N4.122tr in 10 months Edoman 0 83 12-04-2020, 04:34 PM
Last Post: Edoman
  GTB posts N167.4b pre-tax profit in nine months Edoman 0 86 11-23-2020, 08:44 AM
Last Post: Edoman
  UN: North Eastern Nigeria, 3 Other Countries On The Brink Of Famine In 6 Months Edoman 0 132 11-08-2020, 01:01 PM
Last Post: Edoman
  Nigeria imported N2.78tn manufactured goods in three months –NBS Edoman 0 114 10-31-2020, 09:10 AM
Last Post: Edoman
  Electricity: FG, Labour Agree To Cut Price By N10.20 Per Kwh, For 3 Months Edoman 0 130 10-12-2020, 06:54 AM
Last Post: Edoman
  PFAs invest N7.43tr in Fed Govt securites in Q2 Edoman 0 138 09-28-2020, 09:22 AM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise