Nigeria earnings in the first quarter of 2019 fall due to low oil prices as the Federation Allocation Account Committee disbursed N1.93 trillion between January and March this year.
According to the Quarterly Review of the Nigeria Extractive Industries Transparency Initiative, this figure is a drop of 0.45 per cent from the N1.94 trillion disbursed at the same time in 2018…
According to the breakdown of the disbursements, the Federal Government received N803.18 billion in the first quarter of this year, while the 36 states shared N675.2bn.
The figures represent 1.19 per cent decline on the N683.4bn disbursed in Q1 2018.
A total of N398.44bn disbursed to local governments in Q1 2019 was higher by 1.28 per cent when compared to the first quarter of 2018.
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