According to a new report by BudgIT, a civic-tech organisation, 32 out of Nigeria’s 36 states have relied on allocations from the Federation Account Allocation Committee (FAAC) for at least 55% of their total revenue in 2023.
An increase in the money shared by the Federation Account Allocation Committee (FAAC) boosted the revenues of 15 states in the fourth quarter of last year, resulting in a decrease of N117.6 billion in total domestic debt stock.
FAAC: FG, States LGCs Share N616.886 bn for April 2021.
The Federation Accounts Allocation Committee (FAAC), at its meeting through Virtual Conference shared a total sum of N616.886 billion to the three tiers of government, as federation allocation for the month of April, 2021.
From this stated...
NNPC Sells N267bn Crude Oil, Maintains 1.42m bpd Output
The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter of 2021, a document presented to...
Lagos, Rivers, FCT, Delta Generate Nigeria’s 52.67% IGR In 2020
With the generation of 32.08 per cent, 8.97 per cent, 7.05 per cent and 4.57 per cent share of the 2020 Internally Generated Revenue (IGR) Lagos, Rivers, Federal Capital Territory (FCT) and Delta States respectively...
