By Peter Egwuatu

Nigeria and new economic status in Africa
A map of Nigeria

The Federation Account Allocation Committee (FAAC) disbursed a total sum of N5.4 trillion in 2019 to both the Federal and States Governments in the country, representing an increase of 1.9 percent from N5.3 trillion in 2018.

The Data released by the National Bureau of Statistics, NBS yesterday (Thursday) showed that FAAC disabused the sum of N2.93trillion to the Federal Government of Nigeria in 2019.

The Bureau revealed that the highest Net Allocation were disbursed in the months of July and September with 275.03billion and 266.49 billion n respectively while the least amount disbursed to the Federal Government of Nigeria in 2019 where in May and March with 219.51billion  and 223.28bilion in that order.

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The Total Net FAAC Allocation to State Governments in 2019 stood at N2.47trillion as  Delta and Akwa Ibom States received the highest allocation of N219.28billionn and N171.98billion respectively in 2019 while Osun and Cross River States received the least allocation of N24.22 billion and N36.31billion in that order.

The total Net FAAC Allocation to Local Governments Councils stood at N1.64trillion  in 2019, Lagos and Kano States received the highest allocation of N104.97billion  and N92.16billion n respectively in 2019 while Bayelsa and Gombe States received the least allocation of N18.99billion and N23.80billion  in respectively.

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