Executive Order: FG Begins Direct Remittance of Oil Revenues to FAAC
FG commences implementation of Executive Order 9 (2026) mandating direct oil revenue remittance to FAAC. NNPC to stop 30% deductions for management fee and frontier exploration fund. Technical subcommittee set…
States Lean on FAAC, Borrowing to Fund Ambitious 2026 Budgets
Weak internally generated revenue pushes most states toward federal transfers Loans, grants, and other one-off inflows form a large share of projected income Economists caution that growing dependence threatens long-term…
Rivers Ex-Administrator Ibas Received ₦401.9bn Allocation in Six Months — Official FAAC Records Reveal
FAAC documents confirm massive ₦401.9bn inflow under Ibas’ six-month administration ₦36.6bn of local government allocations released directly to him by FG Ex-administrator rejects House probe, calls it a “fool’s errand”…
FAAC Disburses N1.149trn January Revenue To FG, States, LGCs
The Federation Account Allocation Committee (FAAC) disbursed a total of N1,149.816 trillion in January 2024 as revenue from the Federation Account. The N1,149.816 trillion was shared among the Federal Government,…
FG, States, LGs Share N1.36tn In July As Revenue Hits N2.61tn
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.36 trillion to the three tiers of government as federation allocation for the month of July 2024. The…
Nigeria’s Revenue Surges by N9.1tn in Six Months
Nigeria's revenue has soared by N9.1 trillion in the first half of 2024, coupled with a savings of N900 billion from the Federation Account Allocation Committee (FAAC) deductions. This significant…
Federal Allocation Hits N1.298 Trillion for September 2024: Breakdown Revealed
The Federation Accounts Allocation Committee (FAAC) has announced the distribution of N1.298 trillion to the Federal Government, States, and Local Governments for September 2024, a vital financial boost as the…
FG Halts FAAC Payment to Rivers State After Court Order
The Federal Government has confirmed that it will cease the October 2024 monthly Federation Account Allocation Committee (FAAC) revenue payment to Rivers State, following a court order. The decision comes…
FAAC Disburses N1.72trn to FG, States, LGs for November 2024 Revenue
The Federation Account Allocation Committee (FAAC) has distributed N1.72 trillion to the federal, state, and local governments for November 2024 revenue. The gross total revenue for November stood at N3.14…
FG, States, LGAs Share N1.424tn FAAC Revenue For December 2024
The Federal Government, States, and Local Government Councils shared a total sum of N1.424 trillion as December 2024 Federation Accounts Revenue. The revenue was shared at the January 2025 Federation…