Tag
FAAC
News and analysis about FAAC
The increase in revenue was attributed to higher crude oil sales and increasing tax receipts.
Petrol subsidy gulped N101.65bn in the first three months of the year.
Nigeria’s excess crude account has now fallen by a whopping 98% in just 5 years.
Nigeria’s external reserve position is now $9 billion years to date and down from its peak of $45.17 billion achieved.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N780.93bn to the three tiers of government in April 2020 from the revenue generated in March 2020. The disbursement increased by 34.28% and 20.63% compared to N581.57 billion and N647.35 billion that were allocated in March and February 2020 respectively.
Members of FAAC have disagreed over the amount presented by revenue-generating agencies for allocation to FG, State and Local governments.
FAAC has allocated the sum of N635.82 billion to the Federal, States and Local Governments across the nation as revenue for the month of November. #FAAC
The FAAC disbursed the sum of N327.68 billion to the 36 states and the 744 local governments in September 2019.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N769.5 billion from the Federation Account to the three tiers of government in July 2019.
It has been revealed that state governors in Nigeria may request 40% of the total federal allocation, as the federal government is reportedly set to inaugurate the allocation review committee in the coming week.
The Federation Account Allocation Committee disbursed the sum of N762.597 billion from the Federation Account to the three tiers of government in June 2019.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N660.37bn to the three tiers of government in February 2019.