Tag: federal allocation

FAAC Allocation in September Drops on Shortfall in Companies Income Tax, Others

By Aduragbemi Omiyale **As FG, States, Local Councils Share N673.1bn The money shared by the federal, state and local governments in September 2022 as federal allocation went down to N673.1 billion from the N954.1 billion received in August 2022. The primary reason for the decline in the revenue generated in the month was a shortfall… Continue reading FAAC Allocation in September Drops on Shortfall in Companies Income Tax, Others

Kwara, 16 Local Councils Receive N5.3bn as March Federal Allocation

By Modupe Gbadeyanka The sum of N5.5 billion was disbursed to the Kwara State government and the 16 local government councils of the state as their share of the federal allocation for March 2022. A statement issued by the Press Secretary in the Ministry of Finance, Mr Babatunde Toyin Abdulrasheed, disclosed that from the money,… Continue reading Kwara, 16 Local Councils Receive N5.3bn as March Federal Allocation

Allocations to FG, States, LGAs Rise 3.02% in December 2020

By Adedapo Adesanya The allocations shared to the federal, state and local governments in December 2020 increased by 3.02 per cent to N619.3 billion from N601.1 billion shared in November. Mr Hassan Dodo, Director of Information, Ministry of Finance, Budget and National Planning, announced this on Wednesday after a virtual conference of the Federation Accounts… Continue reading Allocations to FG, States, LGAs Rise 3.02% in December 2020

Worry as November Federal Allocation to Kwara Drops 8%

By Modupe Gbadeyanka The Kwara State government is beginning to worry about the decline in the federal allocation to the state as it might become a challenge if nothing is done urgently to boost earnings. The amount shared to the north-central state of the federation reduced again for the second time in November by 8.11… Continue reading Worry as November Federal Allocation to Kwara Drops 8%

Allocation to FG, States, LGAs Drops 6.2% in September 2020

By Adedapo Adesanya The amount shared by the Federation Accounts Allocation Committee (FAAC) to the three tiers of government and relevant agencies dropped 6.2 per cent to N639.9 billion in September 2020 from N682.1 billion in August 2020. This was disclosed in a communiqué after the physical meeting of the committee for the month of… Continue reading Allocation to FG, States, LGAs Drops 6.2% in September 2020

Allocation to FG, States, Others Drops 22% in April 2020

By Adedapo Adesanya Allocation to the Federal Government, States and Local Government Areas (LGAs) dropped 22 percent month-on-month to N606.2 billion in April. This information was released at the end of the virtual Federation Accounts Allocation Committee (FAAC) meeting held on Thursday in Abuja. The Ministry of Finance, Budget, and Nation Planning said in a… Continue reading Allocation to FG, States, Others Drops 22% in April 2020

Dependence on Federal Allocation by States, LGs no Longer Sustainable—FG

By Dipo Olowookere States and local governments in Nigeria have been informed by the Federal Government that their dependence on federal allocation was no longer sustainable because of dwindling revenues from crude oil sales. In view of this, they have been challenged to consider looking for alternative sources of revenue for sustainable development in their… Continue reading Dependence on Federal Allocation by States, LGs no Longer Sustainable—FG

FG, States, LGS Share N465b for January

By Modupe Gbadeyanka A total of N465.149 billion has been distributed for the month of January, 2017 among the Federal Government, State Governments and Local Government Councils in the federation. This information was revealed at the meeting of the Federation Account Allocation Committee (FAAC) held on Tuesday. Addressing newsmen, the Technical sub-committee FAAC noted that… Continue reading FG, States, LGS Share N465b for January