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The Federation Account Allocation Committee (FAAC), disbursed N1.92 trillion to three tiers of government in first quarter of 2019, according to the National Bureau of Statistics (NBS).
The NBS stated this in FACC monthly allocation for January, February and March, 2019 disbursement statistics published on its website on Monday in Abuja.
The Bureau said FAAC disbursed N649.19 billion to the three tiers of government in January 2019; N660.37 billion in February, while the sum of 619.86 was distributed to the three tiers in March.
Out of the N1.92 trillion, the Federal Government got N803.18 billion in the quarter, states received N530.14 billion, while the local governments received N398.43 billion.
The breakdown showed that the Federal Government received N270.17 billion in January, N275.33 billion in February and N257.68 billion in March.
States received N178.04 billion in January, N182.17 billion and N169.93 billion in March while the local governments received N133.83 billion in January, N136.88 billion and N127.72 billion in March.
It stated in addition, that the amount disbursed in January comprised N547.46 billion from the Statutory Account, N100.76 billion from Valued Added Tax (VAT) and N976.53 million exchange gain differences.
The sum of N45.36 billion was shared among the oil producing states as 13 per cent derivation fund in the months under review.
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.69 billion, N4.04 billion and N8.04 billion respectively as cost of collections.
A further breakdown of revenue allocation distribution to the Federal Government revealed that the sum of N216.57 billion was disbursed to the Federal Government’s consolidated revenue account. In addition, N4.81 billion was disbursed as share of derivation and ecological Fund and N2.43 billion as stabilisation fund.
Similarly, N8.15 billion was shared for the development of natural resources and N5.82 billion to the Federal Capital Territory (FCT), Abuja.
