The Federation Account alAllocation Committee (FAAC) said it shared N1.65 trillion among the three tiers of government as allocation for May 2025. This represents a decrease of N30 billion, compared to the N1.68 trillion shared in April. According to a statement on Wednesday from the Ministry of Finance Incorporated, the figure was confirmed in a communique issued at the end …

Seven states spent an average of 190 per cent of their Internally Generated Revenue (IGR) on debt servicing in the first quarter of 2025, a development that shows the worsening fiscal strain facing subnational governments. Data from the Q1 2025 Budget Implementation Reports of Bayelsa, Adamawa, Benue, Niger, Kogi, Taraba, and Bauchi states show that debt service expenditure in each …

The monthly statutory allocations to state governments from the federation account may decline in the coming months following an official request by the Nigeria Sovereign Investment Authority (NSIA) to boost the nation’s residual funds with the support of N100 billion monthly. The request, which was presented by the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, is aimed …

The Federation Account Allocation Committee (FAAC) has distributed the sum of N1.578 trillion, being March 2025 Federation Account Revenue to the three tiers of government. The Office of the Accountant-General of the Federation (AGF) said last night that the money came from the Federation revenue in the month of March. The total distributable revenue of N1.578 trillion comprised statutory revenue …

The Academic Staff Union of Universities (ASUU), on Friday, chided the Federal and state governments over their 2025 education budgets, describing the allocations as a reflection of their disregard and underestimation of the education sector’s importance. In his Wednesday address to the National Assembly, President Bola Tinubu presented the 2025 budget proposal, which outlined a colossal N49.70 trillion spending plan …

The Federation Account Allocation Committee (FAAC), at its October 2024 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.298 trillion to the three tiers of government as Federation Allocation for the month of September, 2024 from a gross total of N2.298 trillion. From the stated amount inclusive …

The Federal Accounts Allocation Committee (FAAC) has said it disbursed N1.2 trillion earned as revenue in August 2024 to the Federal Government, states, and Local Government councils in Nigeria. The revenue distribution was announced at the September 2024 FAAC meeting in Abuja, a statement by the Director of Press and Public Relations at the Office of the Accountant-General of the …

The Federation Account Allocation Committee (FAAC) has shared N1.358 trillion to the three tiers of government. The funds came from the July 2024 Federation Accounts revenue, according to the statement on Friday night by the Director of Press and Public Relations of the Office of the Accountant-General of the Federation, Mr. Bawa Mokwa, in Abuja. The N1.358 trillion total distributable …

The executive secretary of the Universal Basic Education Commission (UBEC), Dr. Hamid Bobboyi, has said many states have not accessed the N45.7 billion matching grant to them for the implementation of Universal Basic Education (UBE) between 2020 and 2023. Bobboyi stated this yesterday when he received members of the House of Representatives Committee on Basic Education and Services at the …

The Federal Government has called on state governments to ensure the responsible and transparent use of the matching grants allocated for the implementation of the Universal Basic Education Commission (UBEC) programme. UBEC’s Executive Secretary, Hamid Bobboyi gave this directive during the inauguration of a six-day training program in Abuja for accountants and auditors from the agency and state Universal Basic …