The monthly federation account allocation committee (FAAC) meeting in Abuja on Tuesday, ended in a deadlock. This is the fifth time the meeting is ending in deadlock this year and the second for May allocation. According to an anonymous source, the meeting ended in deadlock due to the failure of the stakeholders to form quorum. […]
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The Peoples Democratic Party (PDP) has fingered President Muhammadu Buhari for blame for the deadlock at the Federal Accounts and Allocation Committee (FAAC) meeting for which workers in the federal civil service may not be able access their June salaries. The party in a statement issued by its spokesperson, Kola Ologbondiyan noted that the issues […]
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The Minister for Finance, Mrs. Kemi Adeosun, says the Federation Accounts Allocation Meeting (FAAC) ended in a deadlock on Wednesday in Abuja, because the figures proposed by the NNPC were unacceptable. A statement issued by Mr Oluyinka Akintunde, her Special Advise, Media and Communications, said Adeosun gave this explanation on Thursday in Abuja, at the […]
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The Nigerian National Petroleum Corporation (NNPC) has justified its ₦147 billion June remittance to the Federation Accounts and Allocation Committee (FAAC), saying it is in line with the terms of agreement it had with governors on the matter. A release today by NNPC Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, stated that the […]
Read More The three tiers of government may soon have their monthly allocation from the federal account increased as the Federation Account Allocation Committee is targeting ₦1 trillion for the monthly disbursement. A total of ₦701.022 billion was shared by the Federal Government, states and local governments as allocation for the month of April. The Chairman, FAAC […]
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The Federation Account Allocation Committee (FAAC), on Wednesday disclosed that the three tiers of government shared ₦701.022 billion as statutory allocation for May. The figure was an improvement over ₦626.8 billion shared in April. The Permanent Secretary, Federal Ministry of Finance, Dr Mahmoud Isa Dutse, made the disclosure at a press briefing in Abuja after […]
Read More The three tiers of government shared ₦626.82 billion being the Federal Account Allocation Committee (FAAC) disbursement for April. The figure includes Value Added Tax (VAT) and foreign exchange equalisation. The Accountant General of the Federation (AGF), Ahmed Idris, at a press briefing in Abuja yesterday at the end of a reconvened FAAC meeting said the […]
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The National Bureau of Statistics (NBS), says the Federal Government received a total of ₦263. 28 billion from the ₦635.55 billion Federation Account Allocation Committee (FAAC) disbursed to three tiers of government in February. The NBS made this known in FAAC for February 2018 Disbursement data posted on the bureau’s website. The states received a […]
Read More The Federal Account Allocation Committee (FAAC) shared ₦635.554 billion among the three tiers of government as January allocation. The Accountant General of the Federation (AGF), Ahmed Idris, who disclosed this in Abuja, yesterday, after the monthly FAAC meeting said the amount shared included Value Added Tax (VAT) revenue, adding that it was also N20 billion […]
Read More The three tiers of government shared a total of ₦6.418 trillion in 2017 from the Federation Account Allocation Committee (FAAC). The figure represents an increase of 25.8 per cent and 6.8 per cent when compared to total disbursements of ₦5.1 trillion and ₦6.011 trillion shared in 2016 and 2015 respectively. A breakdown of the amount […]
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The federal government, 36 states and the 774 local government shared ₦6.2 trillion as statutory allocation funds in 2017. Correspondents of the Federation Account Allocation Committee (FAAC) monthly disbursement report by the National Bureau of Statistics (NBS) revealed that the Federal Government received the largest share ₦2.6 trillion or 41.9 percent while the 36 states […]
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Between January and November this year, the Federation Account Allocation Committee shared a total of ₦5.74 trillion to the three tiers of government. An analysis of the FAAC distribution shows that the amount represents an increase of ₦765 billion over the ₦4.98 trillion, which the committee allocated in the corresponding period of 2016. The committee, […]
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