FAAC Allocation: FG, States, LGs Suffered N270bn Shortfall In 2021   The Federation Account Allocation Committee shared a total of N8.16tn among the three tiers of government in 2021. However, data from the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2022-2024 shows that the amount budgeted...

Oil Sector GDP Contribution Drops By N270bn In Nine Months   The contribution of crude petroleum and natural gas sector, which is a subsector under the mining and quarrying sector, to Nigeria’s Gross Domestic Product dropped from N2.82tn in the first quarter of 2021 to N2.55tn...

25 Firms Suffer Decline, Stock Investors Lose N270bn       Investors in the Nigerian stock market lost N270bn last week as 25 equities recorded price declines. The Nigerian Exchange Limited All-Share Index and market capitalisation depreciated by 1.30 per cent to close the week at 38,648.91 basis points...

Recapitalisation: TCN To Waive N270bn Discos’ Debt Nigeria’s power distribution companies currently owed the Transmission Company of Nigeria N270bn and TCN is willing to forgo this debt in order to have the Discos recapitalised and salvage the sector from collapse. The total indebtedness of the 11...

In January, FAAC Disbursed N270bn To FG – NBS   The National Bureau of Statistics says the Federation Account Allocation Committee disbursed the sum of N270bn to the Federal Government in January 2019. The bureau said this in FAAC January 2019 disbursement statistics posted on its website. According...