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Finance

5 Things to note from June’s FAAC Disbursement

In June, the Federation Account Allocation Committee (FAAC) disbursed a sum of ₦547.31 billion to the three tiers of government. Of this sum, the federal government (FG) received ₦219.80 billion, while states received ₦152.47 billion. Disbursement to local governments was ₦114.09 billion. The FAAC paid out the remaining funds as derivation funds to oil-producing states and other statutory agencies of government. From the report, DATAPHYTE have identified five subjects of attention.