The Federation Account Allocation Committee (FAAC) on Wednesday agreed to share N647.39 billion to federal, states and local governments as revenue generated in February. The Minister of Finance, Kemi Adeosun, said this in Abuja, while briefing journalists on the outcome of the monthly FAAC meeting. She said after deductions for cost of collections had been […]
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The National Bureau of Statistics (NBS) says the net Federal Account Allocation Committee (FAAC) allocation to the 36 states in 2017 Fiscal Year stood at N1.73 trillion. The NBS stated this in “Internally Generated Revenue (IGR) at State Level for 2017 report’’ published on the bureau’s website. Meanwhile, the NBS stated that the full year […]
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The Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday in Abuja said the Federation Account Allocation Committee (FAAC) disbursements increased by 25 per cent in 2017. NEITI Director Communications and Advocacy, Dr Orji Orji, said this in a statement. Orji said FAAC disbursed a total sum of N6.418 trillion in 2017 showing an increase of […]
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The 36 states of the federation on Thursday failed to hold the monthly federal account allocation committee (FAAC) meeting due to alleged discrepancies in federation account figures presented by the federal government. Mahmoud Yunusa, chairman, forum of finance commissioners, said the decision was taken after consultation with state governors. He said the governors gave commissioners […]
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The 36 states shared N173.8 billion from the Federation Account in September from the distributable revenue generated for the month. The breakdown was obtained by the News Agency of Nigeria (NAN) in a report from the office of the Accountant-General of the Federation in Abuja. The funds are usually shared the following month For example, […]
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Kemi Adeosun, Minister of Finance, said on Tuesday that the Federal Government, states and local governments shared N467.8 billion as allocation in August. This indicates a shortfall in revenue by N184.2 billion from N652 billion shared in July. Adeosun, who was represented by the Permanent Secretary, Mr Mahmoud Dutse, said this at the end of […]
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A total of N652.229 billion has been distributed as federal allocation for the month of June 2017 to the federal government, state governments and local government councils. The communiqué issued by the sub-committee of the Federation Accounts Allocation Committee, FAAC, of the Office of the Accountant-General of the Federation, at the end of the meeting […]
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The Federation Account Allocation Committee (FAAC) on Tuesday shared N467.8 billion to the three tiers of the Nigerian government. This is N38.7 billion more than what the three tiers of government shared the previous month. The Accountant-General, Mr Ahmed Idris, who represented the Minister of Finance, Mrs Kemi Adeosun, told journalists in Abuja that the […]
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The Federation Account Allocation Committee (FAAC) on Tuesday shared N429.1 billion, about N36 billion less than what the three tiers of government shared as revenue for January. And the shortfall, according to the Finance Minister, Kemi Adeosun was caused by the unrelenting sabotage of oil pipelines by Niger Delta militants and the fall in oil […]
Continue ReadingThe Minister of Finance, Mrs Kemi Adeosun, on Wednesday in Abuja said N420 billion was shared in October among the Federal, States and Local Governments. Adeosun told newsmen that same amount was shared in September. She said that N6.3 billion was refunded to the federal government by Nigerian National Petroleum Corporation (NNPC). The net statutory […]
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