GOING by the record of the National Bureau of Statistics , the Federation Account Allocation Committee has disbursed N1.92 trillion to the three tiers of government in the first quarter of this year.
Of the N1.92 trillion so far disbursed, the Federal Government has received N803.18 billion in the three months, states have received N530.14 billion while the local governments have received N398.43 billion. The NBS report further revealed that the amount disbursed in January comprised N547.46 billion from the Statutory Account, N100.76 billion from Valued Added Tax and N976.53 million exchange gain differences while the sum of N45.36 billion was shared among the oil producing states as 13 per cent derivation fund in January 2019 alone.
For February, the report said the amount disbursed comprised N497.12 billion from the Statutory Account; N104.47 billion from Valued Added Tax and N8.12 billion as excess charges recovered. The sum of N50 billion was distributed as FOREX Equalisation Fund and N654.70 million as exchange gain differences. N48.49 billion was shared among the oil producing states as 13 per cent derivation fund in February.
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