The report also noted that the FAAC first quarter disbursements this year were the highest first-quarter disbursements since 2014.
It said: “Total disbursements were N1.648 trillion in Q1, 2015, N1.132 trillion in Q2 2016, N1.411 trillion in Q1 of 2017, N1.938 trillion in Q1 2018, and N1.929 trillion in Q1 2019.”
The report also examined FAAC disbursements in the first quarter of this year and made projections on the possible impacts of COVID-19 on government revenues.
It added: “While total disbursements in Q1 2020 were slightly higher than Q1 2019 and Q1 2018, disbursements to the three tiers of government in Q1 2020 were slightly lower than Q1 2019 and Q1 2018.
“This is due to transfers to other accounts in Q1 2020 which were not done in either Q1 2019 or Q1 2018.
It said: “Total disbursements were N1.648 trillion in Q1, 2015, N1.132 trillion in Q2 2016, N1.411 trillion in Q1 of 2017, N1.938 trillion in Q1 2018, and N1.929 trillion in Q1 2019.”
The report also examined FAAC disbursements in the first quarter of this year and made projections on the possible impacts of COVID-19 on government revenues.
It added: “While total disbursements in Q1 2020 were slightly higher than Q1 2019 and Q1 2018, disbursements to the three tiers of government in Q1 2020 were slightly lower than Q1 2019 and Q1 2018.
“This is due to transfers to other accounts in Q1 2020 which were not done in either Q1 2019 or Q1 2018.