Between June 2023 and June, this year, the 36 states in the country received from the federation account almost N5 trillion (precisely N4,997,201,096248.26). That is an average of N139 billion per state in the 13 months of Federation Account Allocation Committee (FAAC) since the Bola Tinubu administration assumed office on 29 May 2023. In the last 13 months of Muhammadu …

The Federation Account Allocation Committee (FAAC) has disbursed N1.123trillion to the federal, state, and local governments for March 2024. The allocation, derived from a gross total of N1.867 trillion, marks a critical distribution of funds aimed at supporting various government tiers. This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed …

Amid our current economic challenges, it has become obvious that all hands must be on deck as we search for lasting solutions. It does not matter what our political interests and affiliations might be; what we have on our hands calls for patriotism, collaboration and sense of national pride. Hunger and anger go hand- in-hand, and the last thing we …

A total revenue of N2.068 trillion was paid into the Federation Account last month, according to the Office of the Accountant-General of the Federation (OAGF). Deductions for the cost of collection were N78.412 billion; total transfers, interventions and refunds, N639.926 billion; and savings, N200.000 billion. After the deductions, the Federation Account Allocation Committee (FAAC) shared N1.149 trillion to the  three tiers …

The Federation Account Allocation Committee (FAAC)has shared the sum of N1.088 trillion to the Federal Government, States, and Local Government Councils. A communique issued at the end of the FAAC, in Abuja, on Friday, indicated that the allocation came from November 2023 Federation Account revenue. The N1.088 trillion distributable revenue comprised a distributable statutory revenue of N376.306 billion, distributable Value …

The Federation Account Allocation Committee (FAAC) has shared N1.1 trillion to the Federal Government, states and Local Government Councils (LGCs) for August. According to the communiqué of FAAC’s September 2023 meeting, the N1.1 trillion distributable revenue comprised statutory revenue of N357.398 billion, Value Added Tax (VAT) revenue of N 321.941 billion and Electronic Money Transfer Levy (EMTL) revenue of N14.102 …

Seven of the nine oil mineral-producing states left Abuja yesterday with a combined cheque value of N70.408 billion being their allocation from the June 2023 revenue distributed by the Federation Account Allocation Committee (FAAC) on Thursday. Delta State topped the chart with N23,261,593,427.19, according to the breakdown of the allocations obtained by The Nation. Rivers State trailed with N13,192,309,721.26, followed by Akwa …

The Federation Account Allocation Committee (FAAC) has shared N786.161 billion to the federal, state and Local Government Councils. It represented their share from the May 2023 Federation Account Revenue, according to the communiqué issued at the end of the FAAC meeting in Abuja, yesterday. The meeting was chaired by the new Accountant-General of the Federation, Dr. Oluwatoyin Madein, according to …

The Federation Account Allocation Committee (FAAC) shared N750.17 billion among the three tiers of government in January 2023, according to a communiqué issued at the end of the committee’s latest meeting in Abuja on Monday. The figure represents a decrease of N240.02 billion compared to the N990.19 billion shared in December 2022. The amount includes gross statutory revenue, Value Added …