A total of ₦649.198 billion has been distributed as Federal Allocation for the month of December, 2018 among the Federal Government, State Governments and Local Government Councils. The communiqué issued by the Technical sub -Committee of Federation Accounts Allocation Committee (FAAC) indicated that the Gross statutory revenue received was ₦547.462 billion which was lower than […]
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The Federal Government, States and Local Governments have shared ₦812.76 billion as revenue for the month of November. The Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse said this on Wednesday in Abuja, while briefing newsmen on the outcome of the Federal Account Allocation Committee (FAAC) meeting. Giving a breakdown of the revenue accrued in […]
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The Federal Government, States and Local Governments, on Wednesday shared ₦788.13 billion as federal allocation for the month of October at the Federation Account Allocation Committee (FAAC) meeting. A statement issued by Mr Oise Johnson, Head, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), said the meeting was held after the […]
Read More The Federation Account Allocation Committee on Thursday night distributed ₦698.71 billion to the three tiers of government as September allocation. The amount represents a decline of ₦43.13 billion over the ₦741.84 billion shared in August. The amount was shared at the FAAC meeting, which was presided over by the Minister of Finance, Mrs Zainab Ahmed. […]
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The Federation Accounts Allocation Committee (FAAC) has disbursed ₦3.946 trillion in the first half of 2018 to Federal, State and Local Governments, the Nigeria Extractive Industries Transparency Initiative (NEITI) quarterly report has revealed. The report released in Abuja, on Monday, noted that amount rose by 41.4 per cent compared to ₦2.788 trillion disbursed in the […]
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The Federation Account Allocation Committee (FAAC), Friday shared the sum of ₦714.809 billion to the three tiers of government. The Minister of Finance, Mrs. Kemi Adeosun, who presided over the meeting said that ₦597. 975 billion came from earnings into the Federation Account, with the balancing coming from the Value Added Tax (VAT). Of the […]
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With the distribution of ₦668.9 billion for the month of June 2018, as indicated in the report of the National Bureau of Statistics, NBS, Monday, the three tiers of Nigerian government have shared a total of ₦3.5 trillion as statutory allocations in the first half of 2018. The Federal Government took ₦1.7 trillion representing 49 […]
Read More After weeks of horse-trading over revenue underpayment by the Nigerian National Petroleum Corporation, the three tiers of government have finally received the sum of ₦668.8 billion as allocation for the month of May. The Director of Information, Federal Ministry of Finance, Mr Hassan Dodo, confirmed the release of the fund in a statement issued in […]
Read More Association of Local Governments of Nigeria, ALGON, yesterday, said it would mobilise against the Minister of Finance, Mrs Kemi Adeosun, if local government areas do not get their allocations from the Federation Accounts and Allocation Committee, FAAC, in one week. Delta State Chairman of ALGON, Mr Itiako Ikpokpo, in a statement, said the local governments […]
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The Federation Accounts Allocation Committee (FAAC) ₦10 billion in excess to states while sharing bailout funds in 2016, according to the annual report of the Auditor-General of the federation obtained by The Cable. Recall that President Muhammadu Buhari approved the release of the funds in 2015 to help governors pay salaries in their various states, […]
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Rivers State Governor, Nyesom Ezenwo Wike, said that his administration was able to pay the salaries of civil servants in June 2018 despite the absence of any release from the Federal Accounts Allocation Committee. Wike explained that his government was able to pay workers as a result of its careful financial engineering. The governor, who […]
Read More For the third time in one month, the Federation Account Allocation Committee meeting, which was to consider as well as approve revenue sharing among the three tiers of government for the month of May ended in a deadlock on Thursday. The meeting had been postponed thrice due to what was described as revenue underpayment by […]
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