A total of N429.127 billion has been distributed as federal allocation for the month of February 2017 to federal government, state governments and local government councils. The communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting...

The payments from the Federation Account Allocation Committee to state governments plunged by N1.453tn between 2013 and 2016, the Nigeria Extractive Industries Transparency Initiative has said. According to NEITI, the fall from N3.095tn that the states received in 2013 to N1.642tn in 2016, represents a...

FAAC Table: The Sharing of N466bn to FG, States, LGCs in March 2017 The Federation Account Allocation Committee (FAAC) shared a total sum of N466bn at its monthly meeting held in March 2017. In a document obtained by the Economic Confidential, the economic intelligence magazine, the...

The Nigeria Extractive Transparency Initiative, NEITI, yesterday, raised an alarm over the rising debt profiles of states in the country, stating that the 36 states of the Federation are indebted to the tune of N3.342 trillion as at the end of 2016. NEITI, in the...

FAAC Table: The Sharing of N514bn to FG, States, LGCs in February 2017 The Federation Account Allocation Committee (FAAC) shared a total sum of N514bn at its monthly meeting held in February 2017. In a document obtained by the Economic Confidential, the economic intelligence magazine, the...

The Federation Accounts Allocation Committee (FAAC) distributed the sum of N400 billion among the three tiers of government in January 2017, being the statutory allocations for the month of December 2016. The distributable monthly allocation increased by 13.12 billion compared to N386.87 billion shared in...