‘FG received N2.93trn FAAC allocation in 2019’

The Federation Account Allocation Committee (FAAC) disbursed the sum of N2.93 trillion to the Federal Government of Nigeria in 2019 financial year.

The recent data from National Bureau of Statistics (NBS) showed that the highest Net Allocation from FAAC  were disbursed in the months of July and September with 275.03 billion and 266.49 billion respectively while the least amount disbursed to the Federal Government of Nigeria in 2019 were in May and March with 219.51billion and 223.28 billion in that order.

The analysis of the disbursement series 2019 indicated that N237.786 billion, N242.943 billion, N223.277 billion, N223.355 billion, N219.514 billion allocated to federal government in the month of January, February, March, April and May respectively.

According to NBS data, federal government within the period under review received N249.759 billion, N275.030 billion, N265.396 billion, N266.492 billion, N249.322 billion, N251.259 billion and N230.279 billion for the month of June, July, August, September, October, November and December 2019 respectively.

However, the total Net FAAC Allocation to State Governments for the year 2019 stood at N2.47 trillion.

From the funds allocated to state government, Delta and Akwa Ibom States received the highest allocation of N219.28 billion and N171.98 billion respectively in 2019 while Osun and Cross River States received the least allocation of N24.22 billion and N36.31 billion in that order.

Total funds distributed to States by FAAC revealed that Abia State , Adamawa state, Anambra , Bauchi and Bayelsa received N52.039 billion, N48.338 billion, N53.893  billion, N52.357 billion and N140.129 billion.

Other states like Benue received N54.340 billion, Borno N61.713 billion , Cross Rivers N36.312 billion, Ebonyi N44.627 billion,  Edo N64.679 billion, Ekiti State N41.286 billion, Enugu N51.984 billion, Gombe N41.019 billion, Imo N56.086 billion, Jigawa N58.858 billion ,Kaduna N67.100 billion , Kano N82.485 billion, kastina N63.256 billion, Kebbi N52.485 billion, Lagos State N117.883 billion, Kwara state N42.432 billion, Nasarawa N44.865 billion, sokoto N55.476 billion  , Plateau N42.224 billion , Taraba State N46.515 billion among others

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