FAAC
14 Apr
Despite the appreciation in the value of the naira against the dollar lately, the N16,099,490,084,691 provision for debt financing as well as debt servicing and sinking fund required to service Nigeria’s debt in 2024 may rise by 48.38 per cent.
22 Mar
The Federal Government generated N2.326,148 trillion last month in February and distributed N1,152.756 trillion to federal, states and local government councils from the proceeds. At its February meeting of the Federation Account Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja Thursday, from the stated…
20 Mar
The Federal, state and local governments in Nigeria shared N10.14 trillion in 2023, the Nigerian Extractive Industry Transparency Initiative (NEITI) said yesterday in Abuja.
23 Feb
Amid the worsening economy occasioned by galloping inflation, the federation revenue rose to N2.068 trillion in January out of which the Federation Allocation Committee (FAAC) yesterday shared N1.149 trillion to the Federal Government, States and Local Government Councils. This was contained in the communiqué issued at the end of the FAAC meeting in Abuja.
22 Feb
The Federation Account Allocation Committee (FAAC) announced the distribution of N1.149 trillion in January 2024 revenue, marking an increase compared to December 2023.
16 Feb
Independent Media and Policy Initiative (IMPI) has said the ineffective usage of over N16.04 trillion by the 36 states and 774 local councils of the Federation should be blamed for the excruciating hardship faced by Nigerians.
16 Feb
The Office of the Accountant General of the Federation (OAGF) has explained that it would be consistent in publishing the details of the monthly Federation Accounts Allocation Committee (FAAC) allocations to the three tiers of government.
9 Feb
The federal, state and local governments, last year, shared a total of N2.52 trillion as the Federal Accounts Allocation Committee (FAAC) foreign exchange (FX) rate gain.
24 Jan
The Federation Account Allocation Committee (FAAC) has shared N1.127.408 trillion to the federal, states and local councils out of the N1, 674.230 trillion generated in December.
21 Dec
Apart from Lagos, Nigeria's economic capital, Ogun State is the nation's most economically-viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has shown.
6 Dec
Despite raking about N15.8 trillion from the Federation Account Allocation Committee (FAAC) in less than four years, the majority of sub-national governments are reeling in huge debts just as some are showing signs of distress.
21 Nov
Minister of Finance, Wale Edun, has said the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 billion monthly to over N1 trillion in the last four months.
Latest
5 mins ago
The Taraba State Police Command has paraded 28 suspects arrested for various offenses, including kidnapping, armed robbery, culpable homicide, cybercrime, banditry, cattle rustling, criminal conspiracy, and theft. Commissioner of Police David Iloyanomon addressed journalists at the police headquarters in Jalingo and highlighted the collaborative efforts between law enforcement agencies and the public, which have resulted…
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Lagos State Commissioner for Basic and Secondary Education, Mr. Jamiu Alli-Balogun, on Thursday, said the government has shut down 12 private schools for safety infractions and illegal operations. Speaking at the ongoing annual ministerial press briefing to mark the first year of the second term of Governor Babajide Sanwo-Olu, Alli-Balogun, said the decision was to…
27 mins ago
A Nigerian coach is in line to be named as the new helmsman of the Super Eagles as the Nigeria Football Federation (NFF) are poised to announce the new head coach, bringing an end to weeks of speculation and discussion regarding the replacement for Jose Peseiro. The NFF's decision-making process involved a deliberation on whether…
40 mins ago
Senator Ayogu Eze, a former lawmaker who represented Enugu North Senatorial District between 2007 to 2015, is dead. The former senator who was a founding member of the People's Democratic Party (PDP) died in an Abuja Hospital after a protracted illness. Born in 1958, Eze died at 66. Although the cause of his death was…
55 mins ago
New York's highest court on Thursday overturned disgraced Hollywood producer Harvey Weinstein's 2020 conviction on sex crime charges and ordered a new trial.
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Dana Air has announced that it is processing refunds for flights affected after it was suspended by the Nigeria Civil Aviation Authority (NCAA). The Minister of Aviation and Aerospace Development Festus Keyamo directed the NCAA to suspend the airline to conduct a safety and financial audit following a runway incursion incident involving one of the…
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Turkey's central bank held its key interest rate steady on Thursday but warned it could hike it again as the country's soaring inflation remains a headache for President Recep Tayyip Erdogan's government. The central bank's monetary policy committee decided to keep the policy rate at 50 percent. But it left the door open to raising…