Tinubu Approves Infrastructure Fund as FAAC Shares 907bn from 1.9trn June Revenue President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the Federation as part of measures to cushion the effects of the petrol subsidy removal on...

We Will Reconcile N2.1trn Subsidy Deduction With FAAC - NNPC The Nigerian National Petroleum Company (NNPC) Limited says it would reconcile subsidy deductions with the federation. The Federation Account Allocation Committee (FAAC) had in May asked NNPCL to refund over N2.1 trillion to the federation account. NNPCL...

FAAC Disbursements To Hit Record N1trn Following Fx Unification   The Federal Account and Allocation Committee (FAAC) disbursements to the federal, state and local governments is set to hit a record N1 trillion following unification of Nigeria’s exchange rates at the Investors and Exporters (I &...

FAAC: FG, States, LGAs share N786bn in May   The Federation Account Allocation Committee (FAAC) says it shared N786.16bn among the three tiers of government in May 2023. The figure represents an increase of N130.23bn compared to the N655.93bn shared in April 2023, and it is the...

FAAC: FG, Others Share N2.84trn In Four Months   The Federal Government (FG), 36 states and 774 local governments (LG) in Nigeria shared N2.84 trillion as statutory allocation from the Federation Account Allocation Committee, FAAC, in the first four months of this year (January to April). This...

FAAC: FG, States Share N655bn in April The Federation Account Allocation Committee says it shared N655.93bn among the three tiers of government in April 2023. The figure represents a decrease of N58.7bn compared to the N714.63bn shared in March 2023. FAAC disclosed this in a communiqué issued...