According to a report presented by the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, the Federal Accounts Allocation Committee (FAAC) disbursed a total of N10.14 trillion to the federal government, 36 states, and 774…
Conditions in Nigeria have brought the necessity to begin to question certain structures. The issues of funds and allocations failing to satisfy the standard of what they are meant for has become a subject of grave concern. Increasingly, issues of…
…As gross statutory revenue drops to N875.382bn …Mining sector contributes N2.8trn to Nigeria’s GDP in Q1 …FG receives N138.672bn from exchange difference revenue By Sodiq Adelakun The Federation Account Allocation Committee (FAAC) announced that it distributed a total sum of…
The Federation Account Allocation Committee (FAAC) has shared N1.127 trillion December 2023 federal revenue among the Federal Government, states and Local Government Councils (LGCs). This is disclosed in a communique issued by the FAAC at its January meeting, chaired by…
In a recent report by the Postmortem Sub-Committee of the Federal Account Allocation Committee (FAAC), it has been recommended that the Federal Government refund the loan of approximately N228 billion it took from the non-oil excess revenue account to finance…
By Sodiq Adelakun Nigeria has experienced a substantial increase in revenue from foreign exchange differences, totaling N1.36 trillion over a six-month period, according to recent data from the Federation Account Allocation Committee (FAAC) communiques. The remarkable rise in profits is…
By Matthew Denis For the month of November, Nigeria’s revenue increased by a whooping N181.82 billion, despite forex and inflationary pressures. The Federation Account Allocation Committee (FAAC), at its Meeting chaired by the Honourable Minister of Finance and Co-ordinating Minister…
The Federation Account Allocation Committee (FAAC) has shared N1.088.783 trillion November revenue to the Federal Government, States and Local Government Councils (LGCs). This is according to the communique issued by the FAAC at its meeting on Friday. The communique said…
By Matthew Denis, Abuja The Federation Account Allocation Committee (FAAC), at its retreat and meeting has shared a total sum of N906.955 billion to the three tiers of government as Federation Allocation for the month of October, 2023. The Committee meeting…
The Minister of Finance, Mr Wale Edun says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from average of N650 million monthly to over N1 trillion in the last four months. The minister stated…
