Thread by @nigeriaeiti

THREAD: Follow this thread for a breakdown of our latest #QuarterlyReview on Revenue disbursements by the Federation Account Allocation Committee (FAAC) to the 3 tiers of govt. The 3 tiers of govt has witnessed a steady increase in 3 consecutive quarters of this year.

The three tiers of government shared N2.28 trillion in Q3 of 2018. A breakdown shows that the Federal government received the highest sum of N904.8B, followed by states, which received N718.5B & Local governments (LGCs) receiving the lowest disbursements of N432.1B.

#NEITIQUARTERLYREVIEW: AMOUNT RECEIVED.
Federal Government - N904.8B.

States - N718.5B.

Local governments (LGCs) receiving the lowest disbursements of N432.1B.

#NEITIQuarterlyReview, Q 3.

Total FAAC disbursements in the third quarter of 2018 amounted to N2.28 trillion representing a 17.6% increase over the N1.938 trillion disbursed in the first quarter of 2018 and 13.5% higher than the N2.008 trillion disbursed in the second quarter.

#NEITIQuarterlyReview.

Total FAAC disbursements in the third quarter of 2018 amounted to N2.28 trillion representing a 17.6% increase over the N1.938 trillion disbursed in the first quarter of 2018 and 13.5% higher than the N2.008 trillion disbursed in the second quarter.

#NEITIQuarterlyReview.

Note: With the exception of July, the lowest amount disbursed so far in 2018 is higher than disbursements in all other months in 2016 and 2017.

A breakdown of the disbursed sums for 2016, 2017 & 2018 shows that the disbursements in the third quarter of 2018 (N2.28 trillion) were 31% & 18% higher than disbursements in the third quarters of the last two years.

#NEITIQuarterlyReview.

HIGHLIGHTS: #NEITIQUARTERLYREVIEW.

The #NEITIQuarterlyReview also reports that the last time total disbursements exceeded the N2.5trillion mark was in the second quarter of 2014 (N2.510 trillion).

@EITIorg @NRGInstitute @DrJoeAbah @toluogunlesi @Omojuwa @Abuja_Facts @FinMinNigeria @MrSomoye @MrAbuSidiq.

Further analysis of the increases as reported by the #NEITIQuarterlyReview shows that the FG’s receipt of N904.8b in the third quarter of 2018, was 11.3% & 7.8% higher than the amounts received in the first (N812.8b) & second (N839.5b) quarters of 2018 respectively.

#NEITIQuarterlyReview.

The amount disbursed to states represented an increase of 5.1% over the N683.5bn disbursed in the first quarter, & an increase of 3.8% over the N692.1bn disbursed in the second quarter.

#NEITIQuarterlyReview.

For LGCs, the amount received was 9.8% & 7.5% higher than the respective amounts of N393.4bn & N402.1bn received in the first & second quarters.

Total FAAC Disbursements in 2018 Q3 were the Highest since 2014 Q2. The total disbursement in 2018 Q3 exceeded N2 trillion. This is the second time since 2014 Q3 that the total amount disbursed has exceeded N2 trillion.

Total Net FAAC Disbursements to States in the First Nine Months of 2018 Ranged between N16.41 billion and N150.59 billion.

#NEITIQuarterlyReview.

NOTE: While increase in revenue will reflect positively on the fiscal situation of the federating units, states will still have to struggle to finance their budgets considering their poor Internally Generated Revenue (IGR).

@EITIorg @BudgITng @guvyves @4eyedmonk @AhmedRufaiI.

NEITI’s interest in FAAC disbursements and the statutory recipients is in view of the fact that more than 50% of the funds are derived from the extractive industry.

Click here goo.gl/rGzwHj to access the #NEITIQuarterlyReview.

@EITIorg @seunonigbinde @nigeriaeiti.