Three Major FG Agencies Spend N533bn on Revenue Collection   Three major revenue-generating agencies in Nigeria deducted a total of N533.11bn as costs of revenue collection in the first seven months of 2024. The agencies include the Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and...

FG Saves N900bn for Infrastructural Funds With a monthly deduction of N100bn from the gross revenue of the federation, the Federal Government has saved a total sum of N900bn proposed to be spent for state governments’ infrastructural development and security between November 2023 and July...

FAAC: FG, States, LGs Share N1.2trn in August 2024 A total sum of ₦1.203 trillion June 2024 federation accounts revenue has been shared with the Federal Government, states, and local government councils in the country. The revenue was shared at the September 2024 meeting of the...

FG, States, LGs Shared N3.47tn in Q2 – NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that the Federation Accounts Allocation Committee (FAAC) disbursed N3.473tn to the three tiers of government in the second quarter of 2024. This reflects an increase of N46.77bn (1.42...

FAAC: FG, States, LGs Share N1.3trn for July A total sum of N1,358.075 billion July 2024 Federation Accounts Revenue has been shared to the Federal Government, States and Local Government Councils in the country. The revenue distribution was announced at the August 2024 meeting of the...

N4.1tn Unremitted by Agencies – FAAC The monies unremitted by Revenue Generating Agencies to the coffers of the Federal Government increased to N4.1tn as of June 2024, the Federation Accounts Allocations Committee has said. FAAC stated that this was despite the agencies’ reconciliation and payment of...