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: Debt Servicing Gulps Allocation For Ondo, Osun, Two Others   Most of the Federal Accounts Allocation Committee funds for Osun, Ondo, Kaduna and Cross Rivers states will be used in servicing debts this year. The states, as indicated in their 2024 budget may have to rely...

FAAC: FG, States, LGs Share N1.1trn for February   The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the March 2024 meeting...

FAAC: FG, States, LGs Share N1.1trn for February   The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the March 2024 meeting...

NNPC Oil Revenue Remittance Raises Fresh Questions   The Nigerian National Petroleum Corporation Limited’s alleged failure to remit enough oil revenues to the federation’s coffers has sparked concerns about the organisation’s transparency. Experts suggest auditing the corporation’s books to enhance transparency and strengthen the naira. The Nigerian...

'Nigeria Not Generating Enough Revenue to Support Devt'   Nigeria is not earning enough revenue to support its developmental needs, the International Monetary Fund (IMF) has disclosed. According to the IMF, the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not...