Economists and fiscal experts have described the latest moves by the Federal Government to establish an Infrastructure support facility from the surpluses recorded in revenue collections following the unification of the foreign exchange (FX) rate as fiscally unreasonable. The Special Adviser to the President on Communications and Strategy, Mr. Dele Alake, had disclosed at the […]
Tag: Federation Account Allocation Committee (FAAC)
FAAC Shares N907.054Bn To FG, Other Tiers In June
The Federation Account Allocation Committee (FAAC) shared a total sum of N907.054 billion in June this year to the Federal Government, States and Local Government Councils. The figures were stated in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023 presided over by the Accountant-General of the […]
FG, Other Tiers Share N655.932Bn In April
The Federation Account Allocation Committee (FAAC) reported on Thursday that it shared a total sum of N655.932 billion in April 2023 from Federation Account revenue to the three tiers of government even as it stated that Excess Crude Account (ECA) dropped to $473,754.57 as of the date of its meeting in May this year. The […]
FAAC Shares N714.629Bn To FG, Other Tiers In March
The Federation Account Allocation Committee (FAAC) has reported that a total sum of N714.629 billion was shared to the three tiers of government from the March 2023 federation account revenue. The committee’s disclosure was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for April 2023. The FAAC […]
FAAC Distributes N722.677Bn To FG, Others In February
The Federation Account Allocation Committee (FAAC) has shared a total sum of N722.677 billion from the federation account revenue to the federal, state and local governments in February this year. The communiqué issued at the end of the FAAC meeting for March 2023 indicated that the N722.677 billion total distributable revenue comprised statutory revenue of […]
FG, Others Share N990.2Bn In December 2022 – FAAC
The Federation Account Allocation Committee (FAAC) has reported that the three tiers of government shared a total sum of N990.189 billion as allocation from the Federation Account in December 2022, representing a 9.8% increase over the N902.053 billion shared by them in November 2022. The figures were contained in a statement issued on the allocation […]
FG, Other Tiers Share N736.782Bn In October – FAAC
The Federation Account Allocation Committee (FAAC), at the end of its Wednesday meeting held in Abuja disclosed that it distributed a total sum of N736.782 billion to the three tiers of government as allocation from the federation account in for the month of October. The committee disclosed that out of this amount generated from Gross […]
FG, Other Tiers Shared N680.783Bn In May – FAAC
The Federation Account Allocation Committee (FAAC) on Friday disclosed that the three tiers of government shared a total sum of N680.783 billion as federation allocation for the month of May 2022. The committee stated that out of the revenues generated in Gross Statutory Revenue, Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL), the […]
FG, Other Tiers Shared N656.602bn In April – FAAC
The Federation Account Allocation Committee (FAAC) on Thursday disclosed that the federal, state and local governments in the country shared a total sum of N636.602 billion in April 2022 from the federation account accruals. The FAAC gave these figures in a communiqué issued at the end of its virtual meeting for May 2022. In a […]
Sokoto Tops States’ IGR, Records 6,824% Growth In HY 2021
The Nigeria Governors’ Forum (NGF) at the weekend reported that Sokoto State recorded the most impressive performance in its Internally Generated Revenue (IGR), growing its direct assessment revenue exponentially from a mere N7.5 million in half year 2020 to N519.5 million, representing 6,824% growth in the corresponding period of 2021 Other states with improved IGR […]