FAAC: FG, States, LGs Share N954bn Revenue For July The Federation Account Allocation Committee (FAAC) distributed N954.085 billion revenue to the three levels of government in July, 2022. The FAAC allocation from the revenue of June show that the States received N281.342bn, the Local Government Councils...

NCC Remitted N463bn To Federation Account In Five Years   The Nigerian Communications Commission (NCC) remitted N463 billion into the Federal Government’s Consolidated Revenue Fund (CRF) in the last five years. Broadband penetration has also reached 44.30 per cent in readiness for the fifth Generation (5G) technology...

NNPC Deductions From Federation Account Rise To N883.56bn In Q1, 2022   The financial pressure on the three tiers of the Nigerian government is escalating as deductions from the oil revenue, the major source of inflow to the Federation Account, rise sharply. Findings from the Federation Account...

Federation Account Remittances Slide By N1.58rn In 10 Months   Remittances by the Nigerian National Petroleum Company Limited to the federation account have plunged by N1.58tn in 10 months, with experts calling on state governments to improve on its Internally Generated Revenue to augment the allocations,...

Fuel Subsidy Hits N1.03trn, NNPC To Deduct N199bn From Federation Account     Amid plans by the Federal Government to remove subsidy on petroleum products next February, a government report shows the subvention has gulped N1.03tn in the first 10 months of this year. The document also...

NYSC To Remit N511m To Federation Account – DG   The Director-General, National Youth Service Corps (NYSC), Brigadier-General Shuaibu Ibrahim, has said the scheme will remit about N511 million to the federation account for the year 2021. Speaking yesterday in Abuja, at a press briefing, he said...