The three tiers of government in Nigeria received some N3.9 trillion from the Federations account within the first half of 2019, the National Bureau of Statistics (NBS) report has indicated.
A quarterly review of the NBS report shows that the total disbursement through the Federation Account Allocation Committee (FAAC) stood at N1.92 trillion and N1.98 trillion in Q1 and Q2 2019 respectively.
The report seen by BusinessDay indicates that N649.19 billion was disbursed to the three tiers of government in January, N660.37 billion in February while the sum of 619.86 was distributed to the three tiers in March.
Similarly, N617.57 billion was disbursed in April, N679.69 in May and N679.7 was disbursed in June respectively.
The breakdown shows that of the N3.9 trillion disbursed in the period, the Federal Government received a total of N1.59 trillion, states received N1.05 trillion while the local governments received N791.37 billion.
In addition, the report reveals that the amount disbursed comprised N3.05 trillion from the Statutory Account, N597.12 billion from Valued Added Tax and N15.98 billion as exchange gain difference.
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received a total of N30.31 billion, N42.11 billion and N28.21 billion as cost of revenue collections for the period.
The total sum of N281.41 billion was shared among the oil producing states as 13 per cent derivation fund in the period, the NBS said.
Further breakdown of revenue allocation distribution to the federal government revealed that the total sum of N1.27 trillion was disbursed to the federal government’s consolidated revenue account.
In addition, N28.68billion was disbursed as share of derivation and ecology and N14.36 billion as stabilisation fund.
Also, N48 billion was shared for the development of natural resources and N34.26billion to the Federal Capital Territory (FCT), Abuja respectively during the period.
Cynthia Egboboh, Abuja.
