The slump in the international crude oil price took its toll on the Federal Account Allocation Committee (FAAC), as its disbursements between January and March 2019 dropped to $1.929 trillion as against N1.938 trillion disbursed for the same period in 2018; representing 0.45% reduction. This information is contained in the latest issue of the quarterly […]Read More
The withdrawal of $1.68 billion from the Excess Crude Account (ECA) in one month by the Federal Government has left a balance of $631 million in the strategic Excess Crude Account as at December 19, it was learnt yesterday . The ECA is a buffer account held in trust by the government to cushion the effects of economic volatilities […]Read More
Revenue disbursements by the Federation Account Allocation Committee to the three tiers of the government hit N6.226tn in the third quarter of 2018. There has been a steady increase in the first three quarters of this year with N2.28tn shared in the third quarter of 2018. A breakdown shows that the Federal Government received the […]Read More
The deadlock in the meeting of Federation Account Allocation Committee (FAAC) and the issue of national minimum wage were some of the troubling issues that occupied Nigerian governors on Wednesday. The Nigeria Governors’ Forum (NGF) met on Wednesday night in Abuja to discuss matters. Also on the meeting agenda was presentation by the Chief […]Read More
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