TwentyTenDaily

Tag: Federal Allocation

  • FG’s Deficit Spending Falls By 21%

    FG’s Deficit Spending Falls By 21%

    Data from the Central Bank of Nigeria has shown that the deficit spending by the Federal Government fell by 21 per cent, Month-on-Month. This is a drop to N530 billion in October last year from N670.7 billion in September, driven by a decline in interest payments on domestic debts. Meanwhile, revenue into the Federation Account…

  • FG, States and LGs share N954bn In July

    FG, States and LGs share N954bn In July

    The Federation Account Allocation Committee (FAAC) has shared a total sum of N954.085 billion Federation Account Revenue to the Federal Government, States and Local Government Councils in July 2022. According to a communiqué issued, N954.085 billion total distributable revenue comprised distributable statutory revenue of N776.918 billion and distributable Value Added Tax (VAT) revenue of N177.167…

  • FAAC Allocation Rises By 18%

    FAAC Allocation Rises By 18%

    The federal, state and local governments have shared N802.407bn as federation allocation for the month of June, 2022 representing 18 percent increase from N681bn shared in May. The sharing decision was reached at Federation Account Allocation Committee (FAAC)’s meeting, according to a statement sent to by the Director of Press/Information, Federal Ministry of Finance, Mrs…

  • FG, States, LGs Share N725bn In March 2022

    FG, States, LGs Share N725bn In March 2022

    For the month of March, 2022, the Federation Accounts Allocation Committee shared a total sum of N725.57bn among the three tiers of government, as federal allocation. This indicates a 23 percent increase from the N590bn that was shared by the three tiers of government in February. The latest figure for March was contained in a…

  • Federal Government, State and LGs Share N619.3 Billion In December

    Federal Government, State and LGs Share N619.3 Billion In December

    The sum of N619.343 billion was shared as federation allocation for the month of December 2020 to the three tiers of government. This was disclosed at the Federation Accounts Allocation Committee at its virtual meeting. The Federal Government received N218.297bn; states received N178.28bn; Local Government councils got N131.792bn; while the oil-producing states received N31.827bn as…