FAAC Monitor: N3.010 trillion shared by FG, States, and LGs in the first half of 2017

by Ajadi Daniel

Federal Account Allocation Committee (FAAC) has disbursed a total of N3.010 trillion to the three tiers of government in the first half of 2017. This is based on the figures compiled by This Day newspaper.

The amount shared according to the report was higher compared with the N2 trillion allocated to them in the first half of 2016. The breakdown showed that the federal government received N1.216 trillion from FAAC in the first half of 2017, higher than the N854 billion it was allocated in the comparable period of 2016.

The States received N798 billion in the first half of 2017, also higher than the 701 trillion in the first half of 2016; local governments got N599 billion in the first half of 2017 from FAAC, higher than the N429.4 billion they received between January and June this year.

A comprehensive breakdown of the monthly allocation for the first six months of 2017 revealed that N514.15 billion to the three tiers of government from the revenue generated in January 2017. N466.93 billion was disbursed from the revenue generated in February 2017.

FAAC shared N496.39 billion from the revenue generated in April 2017; N418.82 billion was disbursed to the three tiers of government. Also the committee disbursed N462.36 billion to the three tiers of government from the revenue generated in May 2017 and N652 for the month of June.