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FEDERAL ALLOCATION ACCOUNTS COMMITTE FAAC
There were news reports yesterday that President Buhari had approved the suspension of the payment of interest on debts owed by state governments.
Data obtained from the National Bureau of Statistics has shown that the Oil Producing States in Nigeria shared N302.8 billion from the federal government through the 13% derivation principle.
Ten states in Nigeria have accumulated biggest debt profiles above N100 billion each. Collectively, these highly indebted states owe both external and domestic debt to the tune of N2.74 trillion.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.86bn to the three tiers of government in March 2019.
The 36 states in Nigeria shared a total of N2.5 trillion for the 12 months January to December...
The Federation Account Allocation Committee (FAAC) disbursed the sum of N788.14 billion to the three tiers of government...
Kebbi State announced in August that the state generated a revenue of N150 billion from the sale of its local cultivated rice in 2017.
FAAC met in Abuja to disburse ₦741.84bn among tiers of government from revenue generated in August.
FAAC may turn its focus to the NCS and FIRS over the poor remittances.
NNPC has justified its N147billion June remittance to the Federation Accounts and Allocation Committee (FAAC).
Federal Account Allocation Committee (FAAC) disbursements for the first quarter ended March 2018, jumped 37% compared to the...