• Q1 2020 disbursement is the highest for the first quarter since 2014.
  • Lower remittances projected for the rest of 2020 on account of impact of COVID-19.
  • All tiers of government projected to struggle with revenues and need innovative approaches to weather the approaching storm.

Amidst the growing challenges of the COVID-19 pandemic and lockdowns across the world, the Federation Accounts Allocation Committee (FAAC) disbursed N1.95 trillion to the Federal, States, Local government areas and other statutory agencies in the first quarter of 2020.

Read more ...

The curtain on the 4th NEITI Board, under whose tenure Nigeria attained Satisfactory Progress in the EITI ranking, was drawn to a close when it bowed out on Tuesday, 4th of February 2020.

The NEITI Board, otherwise known as the National Stakeholders Working Group (NSGW), will be remembered for the milestone achievements it recorded in its four years of overseeing the affairs of NEITI. For example, during the tenue of the board:

Read more ...

The NEITI Quarterly Review reported that the sum of N8.15 trillion was shared between the Federal, States, Local governments and other statutory recipients in 2019, and this has made the 2019 disbursements the fourth highest since 2013.Notably, the 2019 disbursement is N377billion or 4.42% lower than the 2018 figure of N8.524trillion, but N1.728trillion or 26.92% higher than the total disbursements of N6.419trillion made in 2017. A review of the FAAC 2019 disbursement also revealed that the Federal Government received the highest disbursements (N3.37 trillion or 41.4% of the total disbursements), followed by the 36 states which got N2.761 trillion (33.9%) and the 774 local governments that shared N1.649 trillion (20.2%).

Read more ...

The Nigeria Extractive Industries Transparency Initiative (NEITI) has explored and is still exploring digital opportunities to project, communicate and promote wider outreach of its mandate. One of the digital tools used by NEITI to disseminate information is the traditional tool known as website or web, which is a collection of related network web resources such as web pages, multimedia content that are typically identified with a common domain name, and published on at least one web server. NEITI audit materials and other relevant information for public use are placed on its website (www.neiti.gov.ng)

Read more ...

  • 2018 earnings highest in 12 years
  • Sector contributed over N400 billion in 12 years
  • Ogun State leads states contributions from the sector.

The solid minerals sector contributed N69.47 billion to federation revenue in 2018, the highest so far since NEITI commenced reconciliation of payments in the sector. The figure shows an increase of N16.71 billion representing 31.67% over the 2017 revenue of N52.76 billion.

Read more ...