The Federation Account Allocation Committee (FAAC) on Friday confirmed that it shared a total sum of N1123.391 billion from the March 2024 Federation Account revenue to the Federal Government, States and Local Government Councils. The Committee, in the communiqué issued at its April, 2024 meeting, stated that the N1123.391 billion total distributable revenue comprised statutory […]
Tag: Federation Account Allocation Committee (FAAC)
FAAC Shares N1,152.756Bn To FG, Other Tiers In February
The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion the Federal Government, States and Local Government Councils out of the revenues that accrued to the Federation Account in February this year The revenue was shared at the March 2024 FAAC meeting chaired by the Minister of Finance and Coordinating Minister […]
FG, Other Tiers Share N1.149Trn In January -FAAC
The Federation Account Allocation Committee (FAAC) disclosed on Thursday that it shared a total sum of N1,149.816 billion January 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and […]
Lagos, Ogun Top Nigeria’s Economically Viable States’ Chart
Apart from Lagos, Nigeria’s economic capital, Ogun State is Nigeria’s most economically viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has indicated. Pointing to Ogun State’s status as Nigeria’s topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun […]
FAAC Shares N1.089Trn To FG, Other Tiers In November
The Federation Account Allocation Committee (FAAC) on Friday disclosed that it shared a total sum of N1,088.783 billion in November this year to the Federal, States and Local Government Councils. The committee gave these figures in a communique issued at the end of its December, 2023 meeting in Abuja. It stated that the N1,088.783 billion […]
FAAC Shares N906.955Bn To FG, Other Tiers In October
…..As Statutory Revenue Dips By N354.863Bn M-o-M The Federation Account Allocation Committee (FAAC) on Wednesday reported that it shared a total sum of N906.955 billion from the October 2023 Federation Account revenue to the Federal, State and Local Government Councils. The committee, in a communiqué issued after its November 2023 meeting, indicated that the […]
OAGF To Present Public Finance Mgt Reform Bill For Legislation
The Office of the Accountant General of the Federation (OAGF) has hinted of its current efforts on the drafting of a Bill that will give legal backing to the Public Finance Management (PFM) Reform initiatives and the operations of the Treasury of the Federation. The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, who […]
Revenue Accruals To Federation Accounts Hit N5.244Trn In H1 2023 – RMAFC
…..says NNPCL remits no money to Federation Account ……..NNPCL’s Mgt debunks allegation The Revenue Mobilisation Allocation And Fiscal Commission (RMAFC) has disclosed that the total sum of N5,244,037,636,561.60 accrued into the Federation Account in the first half of this year based on figures from the monthly reports of the Federation Account Allocation Committee (FAAC) […]
New FIRS Boss Restates Commitment To 18% Tax-To-GDP Ratio
….As revenue service generates N8.5trn in 9 months The newly appointed Acting Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch, Adedeji, has restated the determination of the President Bola Tinubu-led administration to exponentially shore up Nigeria’s revenue generation to minimize borrowing and improve the nation’s fiscal system for the country’s sustainable […]
FG, Other Tiers Shared N966.110Bn In July 2023 – FAAC
The Federation Account Allocation Committee (FAAC) reported on Tuesday that it shared a total sum of N966.110 billion from accruals to the Federation Account to the three tiers of government in July this year. The Committee made this disclosure in the communiqué issued at the end of its meeting for August 2023 chaired by the […]