FG, States Share N676bn For November   The three tiers of government in the country shared N675.946 billion from the federation account for November on Friday. Mr Olajide Oshundun, Acting Director, Information, Ministry of Finance, Budget and National Planning stated this on Saturday in Abuja. The federal government...

NNPC Spends N123.7bn As Petrol Subsidy In September   The Nigerian National Petroleum Corporation (NNPC) has revealed that it spent N123.73 billion on petrol subsidy in September 2021. The Corporation in its report to the Federation Account Allocation Committee (FAAC) for October meeting said the amount with...

States, LGs Should Take 59% Of Federal Allocation – North-West   The North-West geopolitical zone of the country has demanded the lion’s share of the federation allocation for states and local governments. The zone said the two arms of the government should take 60 per cent while...

FAAC Meeting Deadlocked As States, LGs Protest $418m Paris Refund Deductions     A meeting of the Federation Account Allocation Committee (FAAC) for October 2021, held last Friday, was inconclusive as states and local governments resisted the commencement of deductions in relation to the $418 million judgement...

FG Cuts JV Cash Call Arrears By Additional $300m, Outstanding Balance Slumps To $1.163bn   The federal government through the Nigerian National Petroleum Corporation (NNPC) has made an additional payment totalling $300,964,270 out of the Joint Venture (JV) cash call arrears owed some International Oil Companies...

NNPC Struggles To Remit N349.2bn Of Projected N1.465trn To FAAC           Out of a possible N1.46 trillion the Nigerian National Petroleum Corporation (NNPC) budgeted as revenue payment to the nation in the first seven months of 2021, the corporation has only been able to remit N349.254...