The Federation Account Allocation Committee (FAAC) says it distributed N2 trillion among the three tiers of government in July 2025. The disclosure was made at the August FAAC meeting chaired by Wale Edun, minister of finance and coordinating minister of the economy. In a statement on Friday, Muhammed Manga, director of information and public relations […]
The Federation Account Allocation Committee (FAAC) says it disbursed N1.82 trillion to the federal, state, and local governments as allocation for June 2025 — an increase of N170 billion from the N1.65 trillion shared in May. The announcement was contained in a statement signed by Bawa Mokwa, director of press at the Office of the […]
By Our Reporter The Federation Account Allocation Committee, FAAC, has shared N1.681 trillion, being April revenue among the Federal Government, states and the Local Government Councils, LGCs. This is according to a communiqué made available by Bawa Mokwa, the Director, Press and Public Relations, Office of the Accountant- General of the Federation, OAGF. The communiqué […]
The Federation Accounts Allocation Committee (FAAC), has shared N1.203 trillion revenue among the Federal Government, states and Local Government Councils (LGCs). According to a communique issued by FAAC after its meeting on Tuesday, the N1..203 trillion total distributable revenue comprised statutory revenue of N186.636 billion, and Value Added Tax (VAT) revenue of N533.895 billion. It […]
The sum of N1.153 trillion February 2024 Federation Account Revenue has been shared out to the Federal Government, States and Local Government Councils by the Federation Accounts Allocation Committee (FAAC). FAAC shared the revenue at its March 2024 meeting chaired by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun. According to […]
By Tom Okpe The House of Representatives has mandated its relevant Committees to look into States’ spending and utilisation of the increased allocation from the Federal Account allocation Committee (FAAC) to sub-nationals. This is due to an adoption of a motion brought under matters of ‘Urgent National Importance,’ sponsored by Rep Ademorin Kuye, (APC, Lagos) […]
By Mathew Brangyet The Federation Account Allocation Committee (FAAC) has distributed N1.127 trillion December 2023 revenue allocation to the Federal Government, States and Local Government Areas in the country. A communique issued by FAAC at its January 2024 meeting, chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein, stated this on Monday in […]
By Joy Obakeye The Federation Account Allocation Committee (FAAC) has distributed a total of N736.782 billion to the three tiers of government as federation allocation for the month of October 2022. The funds are inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Exchange Gain and augmentation from Non-Oil Revenue. Of the sum, the Federal […]
By Godwin Anyebe The Federation Account Allocation Committee (FAAC) has shared N700.235 billion to the three tiers of government as federation allocation for September 2022. From this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), and Electonic Money Transfer Levy (EMTL), the Federal Government received N262.636 billion, the States received N217.191 billion, […]
The federal, states and local governments have shared N739. 965 billion as federation revenue, which was earned in the month of September. This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for October. The N739.965 billion total Distributable Revenue comprised distributable Statutory Revenue […]
By Philip Clement The Federation Account Allocation Committee (FAAC) has allocated the sum of N676.407 billion as federal allocation for the month of July 2020, Daily Times gathered. The amount was allocated to the three tiers of government at the virtual meeting presided over by the Permanent Secretary, Federal Ministry of Finance, Budget and National […]
The Federation Account Allocation Committee (FAAC) disbursed the sum of N581.57billion to the three tiers of government in March 2020 from the revenue generated in February 2020. The amount disbursed comprised of N466.06bn from the Statutory Account, N15.20billion from FOREX Equalisation Account, N99.55billion from Valued Added Tax (VAT) and N757.94million from Exchange Gain Differences. Federal […]
…Says Q1 2020 FAAC disbursements highest first quarter disbursements since 2014 The federal, state, local governments and other statutory agencies have shared the total sum of N1.95 trillion in the first quarter of 2020, the Nigerian Extractive Industries Transparency Initiative (NEITI) report has revealed. NEITI in its quarterly report, which was released on Monday stated […]
Following the stalemate of the last week’s Federation Accounts Allocation Committee (FAAC) meeting, may have been settled, with the announcement of the sharing of about N581.566 billion to the Federal, States and Local Governments for February 2020. The decision was announced at the end of the rescheduled meeting of the FAAC held in Abuja on […]
The Federation Accounts Allocation Committee (FAAC) has shared the sum of N581.566 billion to the federal, states and local governments for February. Director Press and Public Relations in the office of the accountant-general of the federation, Mr. Henshaw Ogubike, made this known in a statement in Abuja on Monday. COVID-19: We have the capacity to […]
The National Bureau of Statists (NBS) has said the Federation Account Allocation Committee (FAAC) disbursed the sum of N716.30billion to the three tiers of government in January 2020 from the revenue generated in December 2019. The report by NBS explained that the amount disbursed comprised of N600.31billion from the Statutory Account, N114.81billion from Valued Added […]
The Federation Accounts Allocation Committee (FAAC) on Wednesday shared a total of N647.35 billion to the three tiers of government for the month of January 2020, representing a decline of 9.63 per cent when compared to N716. 29 billion shared in December 2019. The Federation Accounts Allocation Committee (FAAC) on Wednesday shared a total of N647.35 billion to the three […]
A constitutional lawyer, Oba Maduabuchi (SAN) has called on the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) to direct the Federal Accounts Allocation Committee (FAAC) to stop the monthly allocations to local government areas with appointee chairmen. The call follows Malami’s recent statement that the operation of caretaker committees at […]
The Federation Account Allocation Committee (FAAC) has distributed a total of N788.139 billion to the Federal Government, State Governments and Local Government Councils for the month of October, 2018. The communiqué issued by the Technical Sub -Committee FAAC at the end of the special session held in Kaduna, after the 2018 National Council on Finance […]
The Federal Government has received the sum of N904.8 billion, the largest amount disbursed by the Federation Account Allocation Committee (FAAC) from the N2.28 trillion revenue shared in Q3 2018. The revenue shared is the highest in 2018 within Q1 and Q3, while the FG got N904.8 billion, states shared N718.5 billion and Local governments […]