FAAC disbursed the sum of N2.05trn to the three tiers of government in the third quarter of 2020.
FAAC disbursed the sum of N682.06bn to the three tiers of government in September 2020.
The IGR generated by the 36 states including the FCT in the first half of the year, dipped by 11.7%.
The sum of N696.18 billion to the Federal, State, and Local governments in July 2020 from the FAAC account.
The total sum of N547.3 was shared between the 3 tiers of government for May.
Meanwhile, a total of N3.33 trillion as being disbursed between January and May 2020.
The increase in revenue was attributed to higher crude oil sales and increasing tax receipts.
Petrol subsidy gulped N101.65bn in the first three months of the year.
Nigeria’s excess crude account has now fallen by a whopping 98% in just 5 years.
Nigeria’s external reserve position is now $9 billion years to date and down from its peak of $45.17 billion achieved.
