FG, States, LGs Shared N697bn Revenue In August – FAAC             The Federation Accounts Allocation Committee on Wednesday said it shared a total of N696.965bn as August 2021 revenue to the Federal, States and Local Governments as well as other relevant agencies in Nigeria. The Office of...

States Generate N5.30trn, Get N10.19trn, Borrow N1.84trn In Five Years       The 36 states in Nigeria earned N5.30tn as internally generated revenue from 2016 to 2020. The states got N10.19tn from the Federation Accounts Allocation Committee within the time under review and borrowed N1.84tn from domestic...

In Five Months, NNPC Records 63% FAAC Remittance Shortfall       The statutory payments made by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account, a joint pool operated by the local, state and federal governments, declined by over 63 per cent in the first five...

In Five Months, NNPC Rakes In N1.088trn Revenue       The Nigerian National Petroleum Corporation (NNPC) made a total revenue of N1.088.88 trillion in the first five months of 2021, a Federation Account Allocation Committee (FAAC) document detailing its operations for the period has shown. The figure is...

Federation Account: How FG, States Shared N7.23tr in 2020 … FG Received N3.04 tr, States/LGCs Got N4.18tr …Highest Allocations: Lagos N299bn, Delta N247bn, Akwa-Ibom N212bn, Rivers N198bn, Kano N174bn …Lowest Allocations: Gombe, Ebonyi, Nasarawa, Ekiti and Kwara Received less than N80bn each A new report by Economic...

Oil Price: Experts Dismiss Gains As Subsidy Nears N200bn       After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues. The Federal Account Allocation Committee report for May, value...