The Federal Account Allocation Committee (FAAC) recently completed disbursements for the 3rd quarters of 2016. The disbursements to all tiers of government in the 3rd quarter of 2016 were lower than for the comparable period in 2015.
FAAC disbursements to the 3 tiers of government in the 3rd quarter of the year totaled N1.53tr. It represents an 18.6% drop on total disbursements in the 3rd quarter of 2015.
However, the 3rd quarter of 2016 witnessed substantially higher inflows of revenue from FAAC when compared to the 1st and 2nd quarters of the year.
The federal government received N129.9b less in FAAC disbursements in the 3rd quarter of 2016 than received in the 3rd quarter of 2015. States Government received N72.1b less in FAAC disbursements while Local Governments received N48.5b less in the 3rd quarter of 2016 than they received for the corresponding period in 2015.