FAAC
5 Jan
The cost of revenue collection by Nigeria’s key revenue-collecting agencies—namely the Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC)—has continued to rise despite improved technology that has made revenue collection easier and more efficient. The NCS receives 7 per cent of customs levies and duties, the FIRS…
16 Dec
Out of the N5.718 trillion distributable Value Added Tax (VAT) revenue shared by the Federation Accounts Allocation Committee (FAAC) between January and November 2024, three states and the FCT earned N4.183 trillion as their share
13 Dec
The Federation Accounts Allocation Committee (FAAC), has shared N1.727 trillion among the Federal Government, states, and Local Government Councils (LGCs) for November. This is contained in a communiqué issued after the FAAC meeting on Thursday in Abuja. According to the communiqué, the N1.727 trillion total distributable revenue comprised statutory revenue of N455.354 billion. It also…
20 Nov
With a total of N668.291 billion collected in October 2024 as value-added tax (VAT), as against the N583.675 billion collected in September, the revenue available for sharing to the three tiers of government in October rose to N1.411 trillion. This amount is higher than the N1.298 trillion that was shared in September by N113 billion.…
30 Oct
A new report evaluating the fiscal performance of Nigeria’s 36 states has unveiled alarming insights into their financial dependency
18 Oct
The country’s statutory revenue inflows dropped by N177.426 billion in September from N1.221 trillion received in the month of August 2024 to N1.043 trillion.
14 Oct
Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oloyede, has denied rumours that he proposed a reduction
7 Oct
Despite huge yearly ecological funds allocation to states, flooding triggered by unprecedented rainfall and dysfunctional dams has continued to wreak havoc on citizens, and properties.
17 Sep
The revenue available for sharing among the three tiers of government in August was N165.994 billion lower than what they shared in July. This is as the Federation Accounts Allocation Committee (FAAC) shared a total sum of N1.203 trillion as August 2024 Federation Accounts Revenue to the Federal Government, States, and Local Government Councils in…
17 Sep
The Federation Accounts Allocation Committee (FAAC) disbursed N3.473 trillion to the three tiers of government in the second quarter of 2024, marking an additional N46.7 billion against what was shared in the first quarter of this year.
9 Sep
In the wake of the fuel subsidy removal by President Bola Tinubu, the monthly disbursement to the three tiers of government by the Federal Account Allocation Committee (FAAC) increased significantly. However, a survey conducted by the News Agency of Nigeria
27 Aug
Though President Bola Tinubu hailed the latest report by the National Bureau of Statistics (NBS) on the state of the economy, which saw the country’s Gross National Product (GDP) posting new growth, there are concerns about the economic reality on the ground
Latest
11 mins ago
Former President Goodluck Jonathan, on Monday, flag off the new Olympic-standard 25,000-capacity Bayelsa stadium project at Igbogene, Yenagoa, as part of the activities marking the 5th anniversary of governor Douye Diri. The former president performed the groundbreaking ceremony on a day Gov. Diri restated his appeal for support of the the federal government as well…
18 mins ago
The Health and Development Support Programme (HANDS), an NGO, has trained community health workers in Kano on the Social Behavioural Communication Change (SBCC) strategy. The training, held on Monday in Kano, focused on raising awareness about Neglected Tropical Diseases (NTDs) and Water, Sanitation, and Hygiene (WASH) practices. Mr Muhammad Dan’Aro, the state Programme Officer of…
26 mins ago
A chieftain of the All Progressives Congress (APC), Nwaorisa Gerald, has criticised the party’s leadership for failing to address growing tensions with former Kaduna State Governor, Mallam Nasir El-Rufai. The reaction follows reports suggesting that El-Rufai is dissatisfied with both the party and the president, with speculations that failure to address the issue could deepen…
31 mins ago
The Senate Committee on Power has kickstarted discussions with a South Korean energy firm, BK Energy, to explore mini-grid solutions and alternative energy sources, including coconut-derived graphene for power generation. This comes against the backdrop of Nigeria’s persistent national grid collapse and unstable power supply. During a meeting on Monday, the Committee Chairman, Senator Enyinnaya…
36 mins ago
The Inspector-General of Police has ordered the deployment of more decoy operatives to Osun State to maintain law and order following violence over a court ruling on the reinstatement of sacked local council chairmen. Police spokesman, ACP Muyiwa Adejobi, who disclosed the new move by the police, noted that it was in response to the…
40 mins ago
The Federal Government has donated food and non-food relief items to Borno Government to support the resettlement of Nigerians who returned from Chad. Mrs Fatima Daura, the Director, Refugee Department at the National Commission for Migrants, Refugees, and Internally Displaced Persons (NCFRMI) made the presentation on Monday in Maiduguri. The News Agency of Nigeria (NAN)…
45 mins ago
Ahead of the Saturday, February 22, 2025, local government elections in Osun State, the Osun State Independent Electoral Commission (OSSIEC) has officially unveiled voting materials. The unveiling took place on Monday during a press briefing held at the commission’s headquarters in Osogbo. The event was led by OSSIEC Chairman, Hassim Abioye, who assured the public…
49 mins ago
Cashew dealers in Kogi State have appealed to the Federal Government of Nigeria to come to their aid by preventing foreign competitors from disrupting the cashew market, citing exploitation. According to the affected farmers, they have asked the government to take prompt action before foreigners drive them out of business and into poverty, as they…
49 mins ago
EFCC FC secured a hard-fought 1-0 victory over Galadima FC on Monday to book their place in the final of the FCT President Federation Cup at the Area 3 football pitch in Abuja. The News Agency of Nigeria ( NAN) reports that the match was a closely contested affair, with both teams creating scoring opportunities…
50 mins ago
The Legal Practitioners Disciplinary Committee (LPDC) has awarded a cost of N200, 000 against a lawyer, Mr A. O. Amagwula, for stalling the hearing of a petition against his client, Stella Oyiogu. The Chairman of the LPDC, retired Justice Is’haq Bello, gave the order after Amagwula told the committee that he was not ready to…