Tag Archives: States

NBS: States Received N1.23tn FAAC Allocation In Six Months

The 36 states of the federation received a total sum of N1.23 trillion as net allocation from the Federation Account Allocation Committee (FAAC) in the first half of this year, the National Bureau of Statistics (NBS) has said. It added that a total revenue of N1.74 trillion was available to the states within the review period. Also, the statistical agency …

Read More »

FG, States, LGAs Share N698.71B For September

flag

The Federal Government, 36 States and FCT as well as 774 Local Governments on Thursday shared N698.7 billion for the month of September. The Minister of Finance, Mrs Zainab Ahmed, said this in Abuja, while briefing newsmen on the outcome of the Federation Account Allocation Committee (FAAC) meeting. Giving a breakdown of the revenue accrued in September to be distributed …

Read More »

FG, States, Others Shared N3.95tr In Q1, 2018

The Federal, States and Local Government Areas across the country shared a total of N3.95 trillion from the Federation Account in the first half of 2018. The disbursements made at the Federation Accounts Allocation Committee (FAAC) represent an increase of 41 percent when compared to the N2.79 trillion disbursed in the first half of 2017 and a 95 percent increase …

Read More »

FG, States Debts Hit $22 Billion

The Debt Management Office (DMO), on Wednesday August 29, 2018 put Nigeria’s external debt stock at $22billion. Out of the amount, the Federal Government’s quotient is $17.8 billion, while the combined debt portfolio by the states and the Federal Capital Territory (FCT) stands at $4.28 billion. Of the combined states’ figure, Lagos State, the commercial nerve-centre of Nigeria, has the …

Read More »

Allocation Drops By N20 bn, FG, States, LGs Share N635.55 bn

The Federation Account Allocation Committee on Thursday approved the sum of N635.55 billion to be shared to the three tires of government from the Federation Account as statutory allocation for the month of January. The figure was announced by the Accountant-General of the Federation, Idris Ahmed, shortly after the FAAC meeting, which was held at the headquarters of the Ministry …

Read More »

States lose easy access to foreign, local loans

States will no longer have easy access to foreign or local borrowing windows due to the drop in their earnings from the Federation Account. Debt Management Office (DMO) Director-General Ms. Patience Oniha broke the news yesterday when she hosted Edo State Governor Godwin Obaseki. Oniha said the decision was taken because there was no longer huge allocation to states shared at …

Read More »