Abuja March 16, 2017. The Federation Accounts Allocation Committee (FAAC) disbursed N5.12 trillion to the three tiers of government in 2016 as against the N6.01 Trillion shared in 2015. The figure is 15% short of disbursements in 2015 alone and over 40% less than the aggregated disbursements to the three tiers of government in Nigeria between 2013 and 2016.
These information and data were contained in the latest NEITI Quarterly Review; “FAAC Disbursements in 2016: Review and Projections” released by the Nigeria Extractive Industries Transparency Initiative (NEITI).
The Review which is the third in the series, focused on disbursements from the federation account to the Federal, States and Local Governments. It also appraised the internally generated revenues of the states in 2016 and capacity to fund budgets.