The total allocation from Federation Account Allocation Committee (FAAC) to the three tiers of government decreased by 30 per cent to N2.01 trillion in the first half of 2016, compared with the N2.89 trillion recorded in the first half of 2015.
The Nigeria Extractive Industries...
...As FAAC revenue down by N35.3bn
The federation accounts allocation committee(FAAC) shared the sum of N420 billion among the Federal, States and Local Governments for the month of September 2016.
It is however short by N35.3bn compared with the amount in August this year.
Giving the breakdown,...
The Federation Account Allocation Committee (FAAC) shared the sum of N493.8 billion among the three tiers of government in August, this year being the statutory allocation for the month of July.
The distributable monthly allocation slightly decreased below N559 billion shared in the month of...
There has been a general weakening of economic growth in emerging market economy, the security challenges including insurgency in part of the North East, high rate of unemployment, huge infrastructure and housing deficit among others characterized the Nigerian economic landscape. These however have imposed...
The Federal Government borrowed a total of N600bn between January and June this year to augment the shortfall in revenue caused by various challenges affecting oil and non-oil receipts.
The amount, which was borrowed from the domestic market, was contained in a presentation made by...
Barely five months after the federal government assured Nigerians that it will not increase Value Added Tax and corporate taxes, plans seem to have been concluded to increase VAT from five per cent to 10 per cent.
It would be recalled that the Minister of...
