According to a new report by BudgIT, a civic-tech organisation, 32 out of Nigeria’s 36 states have relied on allocations from the Federation Account Allocation Committee (FAAC) for at least 55% of their total revenue in 2023. 

Agusto & Co, a prominent credit rating agency, cautions that despite a recent slight moderation in Nigeria's inflation, the threat of sustained inflation remains due to several impending fiscal measures.  

FAAC Allocation: FG, States, LGs Suffered N270bn Shortfall In 2021   The Federation Account Allocation Committee shared a total of N8.16tn among the three tiers of government in 2021. However, data from the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2022-2024 shows that the amount budgeted...

FAAC Allocation In 2020 Not Bad         Federation Accounts Allocation Committee (FAAC) revenue to the Federal Government, 36 states and 774 local governments fell by just five percent to N7.14 trillion in eleven months (January to November) from N7.46 trillion in the same period of 2019. Going...

The naira is expected to strengthen this week on improved dollar supply to the market, currency dealers have predicted. The naira fell to N470 to the dollar on the parallel market last Friday, as against the N455 to the dollar it was the preceding Friday....