Revenue disbursements by the Federation Account Allocation Committee (FAAC) to the three tiers of government has witnessed a steady increase in three consecutive quarters of this year with N2.28 trillion shared in the third quarter of 2018, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its Quarterly Review.
A breakdown of the figure shows that the federal government received the highest sum of N904.8 billion, followed by states, which received N718.5 billion and Local governments (LGCs) receiving the lowest disbursements of N432.1 billion.
This information is contained in the latest edition of the NEITI Quarterly Review just published.
According to the review, Total FAAC disbursements in Q3 of 2018 amounted to N2.28 trillion representing a 17.6 per cent increase over the N1.938 trillion disbursed in the first quarter of 2018 and 13.5 per cent higher than the N2.008 trillion disbursed in the second quarter.
The NEITI report noted that with the exception of July, the lowest amount disbursed so far in 2018 is higher than disbursements in all other months in 2016 and 2017.
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