FAAC
22 Mar
The Federal Government generated N2.326,148 trillion last month in February and distributed N1,152.756 trillion to federal, states and local government councils from the proceeds. At its February meeting of the Federation Account Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja Thursday, from the stated…
20 Mar
The Federal, state and local governments in Nigeria shared N10.14 trillion in 2023, the Nigerian Extractive Industry Transparency Initiative (NEITI) said yesterday in Abuja.
23 Feb
Amid the worsening economy occasioned by galloping inflation, the federation revenue rose to N2.068 trillion in January out of which the Federation Allocation Committee (FAAC) yesterday shared N1.149 trillion to the Federal Government, States and Local Government Councils. This was contained in the communiqué issued at the end of the FAAC meeting in Abuja.
22 Feb
The Federation Account Allocation Committee (FAAC) announced the distribution of N1.149 trillion in January 2024 revenue, marking an increase compared to December 2023.
16 Feb
Independent Media and Policy Initiative (IMPI) has said the ineffective usage of over N16.04 trillion by the 36 states and 774 local councils of the Federation should be blamed for the excruciating hardship faced by Nigerians.
16 Feb
The Office of the Accountant General of the Federation (OAGF) has explained that it would be consistent in publishing the details of the monthly Federation Accounts Allocation Committee (FAAC) allocations to the three tiers of government.
9 Feb
The federal, state and local governments, last year, shared a total of N2.52 trillion as the Federal Accounts Allocation Committee (FAAC) foreign exchange (FX) rate gain.
24 Jan
The Federation Account Allocation Committee (FAAC) has shared N1.127.408 trillion to the federal, states and local councils out of the N1, 674.230 trillion generated in December.
21 Dec
Apart from Lagos, Nigeria's economic capital, Ogun State is the nation's most economically-viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has shown.
6 Dec
Despite raking about N15.8 trillion from the Federation Account Allocation Committee (FAAC) in less than four years, the majority of sub-national governments are reeling in huge debts just as some are showing signs of distress.
21 Nov
Minister of Finance, Wale Edun, has said the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 billion monthly to over N1 trillion in the last four months.
20 Nov
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.