Tag
FAAC
News and analysis about FAAC
The Federation Accounts Allocation Committee (FAAC) has distributed a total of N1.358 trillion among the Federal Government, States, and Local Government Councils (LGCs) for the month of July.
Nigerian states have collectively spent about N139.92 billion on servicing external debt in the first half of 2024.
The Aminu Maifata-led Incorporated Trustees of the Association of Local Governments of Nigeria (ALGON) has denied issuing a legal threat against the Forum of Commissioners for Finance of Nigeria over July allocations from the Federation Account (FAAC) to each of the 774 local government councils.
The Federal Government has set aside N100 billion as the second tranche of the Presidential Metering Initiative (PMI).
The Federation Accounts Allocation Committee (FAAC) distributed N1.354 trillion in June revenue among the Federal Government, states, and Local Government Councils (LGCs).
Local Government Areas (LGAs) in Nigeria got N1.42 trillion from disbursed federal allocations in the first five months of 2024.
The Supreme Court of Nigeria has faulted state governments for exploiting the Local Government Areas for “decades”.
The Federal Government has set aside N120 billion as the first tranche of the Presidential Metering Initiative (PMI).
Nigerian states have witnessed a significant surge in their external debt servicing obligations, marking a 123% increase in the first four months of 2024 compared to the same period in 2023.
The Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have experienced a 131% increase in their cost of revenue collection for the first quarter of 2024.
The Supreme Court of Nigeria has reserved judgment in federal government's suit which seeks to stop the governors of 36 states from spending or tampering with 20.6% allocation from the federation account to local government areas, among other reliefs.
The Federation Accounts Allocation Committee (FAAC) has announced the disbursement of N1.143 trillion as the total revenue for May 2024