Tag: FAAC allocation

VAT crosses N1tn for first time as new sharing formula shifts revenue to states

Business Damilola Bayonle -
Tax law: VAT hits record N1tn as new sharing era begins Nigeria’s Value Added Tax pool crossed the N1 trillion...

FG, states, LGs share N2.09tn as October FAAC revenue declines slightly

Business Damilola Bayonle -
The Federation Account Allocation Committee has released a new revenue distribution report showing that the Federal Government, states, and...

States’ revenue windfall wasted on overheads, debt servicing

Business Damilola Bayonle -
Nigeria’s states are squandering their long-awaited revenue windfall on growing overheads and debt servicing rather than using it to...

Fed Account Allocation Drops for Third Consecutive Month

Damilola Bayonle -
In a troubling signal for Nigeria’s fiscal trajectory, the Federation Account Allocation Committee (FAAC) has reported a third consecutive...