• FAAC disbursements hit N2 trillion in third quarter of 2019, first time since Q4 2018.
  • Aggregate FAAC disbursement in first three quarters of 2019 is N6.115 trillion.
  • Delta State leads, Osun takes last in disbursements to states.
  • Combined disbursements to 4 highest receiving states, all in South-South, higher than combined total disbursements to 14 lowest receiving states.

Federation Account Allocation Committee (FAAC) disbursed N2.273 trillion to the three tiers of government and other statutory recipients between July and September this year.

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Nigeria Extractive Industries Transparency Initiative (NEITI)has urged the government to embrace oil fingerprinting technology, the comprehensive metering infrastructure of all facilities, and other creative strategies to combat the growing menace of theft of Nigeria’s crude oil and refined petroleum products.

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The solid minerals sector contributed N52.75 billion to federation revenue in 2017, a 21% increase on the N43.22 billion contributed by the sector in 2016. The information and data followed an independent reconciliation of company payments and government receipts in the sector by the Nigeria Extractive Industries Transparency Initiative (NEITI) in its latest report released in Abuja.

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