The Federation Account Allocation Committee (FAAC) has released N679.699 billion as May entitlements to the three tiers of government. The figure includes earnings from gross statutory revenue, Value Added Tax (VAT) and sundry income exchange gains. Addressing reporters yesterday after the monthly FAAC meeting in Kano, the Accountant General of the Federation (AGF), Idris Ahmed,…

The scripting of appropriate reforms for informal sector taxation, tackling the non-remittance challenges and improving the consumption patterns of through policy developments hold the key to the realisation of N3.47 trillion in Value Added Tax (VAT) base by 2023. A research by FSDH Merchant Bank Limited noted that the nation’s large informal sector, put at…

The federal, state and local governments shared N788.139 billion from the federation account in October, the Accountant-General of the Federation, Ahmed Idris, disclosed yesterday. Besides, the gross statutory revenue for the period was N682.161 billion, a N112.880 billion increase over the N569.281 billion figure of the previous month. In a statement at the end of…

Disbursements from the Federation Account Allocation Committee (FAAC) to the three tiers of government have been on a steady rise in 2018. An analysis of documents from the Nigerian Extractive Industry Transparency Initiative (NEITI) yesterday showed that N2.28 trillion was shared in the third of this year, sustaining the upswing in the three quarters. The…

Federal, states and local governments on Thursday shared N714.8 billion revenue generated in July, the News Agency of Nigeria (NAN) reports. The figure indicated a decline of N107.1 billion when compared to what was generated in June. The Minister of Finance, Mrs Kemi Adeosun, while briefing newsmen in Abuja on the outcome of the monthly…

FISCAL discipline, improved revenue generation, rational allocation and efficient use of resources must be imbibed by every tier of government to return the economy to the path of sustainable growth and development.

The Federation Account Allocation Committee (FAAC) on Tuesday shared N415.7 billion, which is N52.1 billion less than what the three tiers of government shared as revenue for March.

After a prolonged tug of war between the Senate and the Presidency, Nigeria’s N6trn budget for this year was signed into law in May. The budget shows retained revenue projected at N3.86trn, resulting in an assumed deficit of N2.2trn.

Apart from Lagos State, the richest Southwestern state in terms of mineral resources, human capital and opportunities is Ondo. The state has no basis not being able to pay salaries ...