The Nigerian National Petroleum Company Limited (NNPC) has cancelled subsidy arrears and other debts owed by the Federal Government totalling N4.01tn, following a reconciliation of accounts between both parties.
FAAC Probes Road Tax Scheme Over Poor Responses
The Federation Account Allocation Committee (FAAC) is investigating the Road Infrastructure Tax Credit Scheme due to poor responses from participating companies.
Only three out of seven companies have provided required details on their involvement and expenditure.
"The Sub-Committee had...
FAAC Shares N2.09tn October Revenue to States, LGs
The Federal Government, states, and local governments shared a total of N2.094tn as October 2025 revenue, slightly lower than the N2.103tn distributed for September.
The latest figure shows a marginal shortfall of N9bn, representing a 0.43 per cent...
Report Reveals Over 30 States Dependent on Federal Allocation
The 10th edition of the BudgIT State of States Report has revealed that over 30 states in Nigeria rely on Federal Account Allocation Committee allocations for their revenue, leading to fiscal pressures.
The report, titled ‘A Decade...
