• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Government revenues fall below 40% of 2017 budget estimate

Onome Ohwovoriole by Onome Ohwovoriole
August 21, 2017
in Business News
Government revenues fall below 40% of 2017 budget estimate
Share on FacebookShare on TwitterShare on Linkedin

The three tiers of government may have to be more conservative in their budgetary estimates, as Federation Accounts Allocation Committee (FAAC) income for the first half of 2017 is 40% lower than budgeted estimates. Data from Issue 4 of the NEITI Quarterly review show the three tiers of government received actual FAAC disbursements of  N2.7 trillion, against the expected inflow of N4.7 trillion. FAAC is the committee comprising Federal, State and Local Government officials who meet monthly to share revenue.

Reasons behind the huge disparity

Tussle between the executive and legislative arms of government leads to unrealistic budget estimates. While the government may want a trim budget, the legislators usually push for several projects for their constituencies.  In order to accommodate various interests, the executive usually accommodates modifications by the legislature. Government budgets also tend to be less prudent compared to the private sector.

The Federal Government has consistently set budget estimates. While government has struggled to meet the target of 2 million barrels since March 2016, the government continues to use that figure for its budget estimate. Militant attacks lead to downtime as oil facilities are often badly damaged, taking months to repair. The advent of shale oil, has also lead to crude oil prices trending lower.

RelatedStories

FG, States and LGAs share N1.35 trillion as FAAC allocation in June

FAAC shares N1.681 trillion April 2025 revenue to FG, States, LGs 

May 16, 2025
FEC approves new connectivity and AI initiatives to drive digital transformation in Nigeria 

FAAC: FG, States, LGAs share N1.578tn March 2025 revenue as allocation falls for third straight month  

April 15, 2025

Implication if this continues

If the trend continues, all arms of government could face difficulties in executing budgets.While the Federal Givernment has the leeway to borrow its way, states and local governments could face a financial crisis. The Buhari administration has had to bail out states and local governments that could not meet salary and pension obligations. A total of N760 billion has been disbursed to state and local governments so far as bail out funds.

Tags: FAACFederation Accounts Allocation CommitteeNews Review
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

FAAC shares N1.681 trillion April 2025 revenue to FG, States, LGs 

May 16, 2025
FEC approves new connectivity and AI initiatives to drive digital transformation in Nigeria 
Economy

FAAC: FG, States, LGAs share N1.578tn March 2025 revenue as allocation falls for third straight month  

April 15, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

FAAC: FG, States, LGs share lower February revenue of N1.678 trillion 

March 22, 2025
Ibok Ete Ibas confirms FAAC release for Rivers, promises prompt salary payments, others  
Business News

Ibok Ete Ibas confirms FAAC release for Rivers, promises prompt salary payments, others  

March 21, 2025
FEC Orders Immediate Investigation into Ibadan Explosion 
Economy

FAAC disburses N15.26 trillion to FG, states, and LGAs in 2024 – NEITI report

March 19, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

FAAC: FG, States, LGCs share N1.703 trillion January 2025 revenue 

February 27, 2025
Next Post
Buhari’s return could impact the economy in these areas

Buhari's return could impact the economy in these areas

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Tinubu returns from BRICS Summit, pushes for global financial reform and climate justice 
  • Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 
  • 10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

Follow us on social media:

Recent News

Tinubu returns from BRICS Summit, pushes for global financial reform and climate justice 

Tinubu returns from BRICS Summit, pushes for global financial reform and climate justice 

July 13, 2025
Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

July 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics