Tag: FAAC

26 States depend on FAAC as wage bills outstrip IGR

Economy Emmanuel -
26 States Struggle to Fund Personnel Costs The finding that 26 states depend on FAAC to meet their personnel obligations...

Nigeria local government autonomy crisis deepens as states retain ₦1.46tn funds

Business Damilola Bayonle -
Nigeria local government autonomy crisis worsens as states withhold ₦1.46tn funds despite court ruling Nearly ₦1.46 trillion meant for grassroots...

FG scraps Customs ’ 7% FAAC deduction, frees up billions for revenue sharing

Business Damilola Bayonle -
Nigeria’s fiscal framework has undergone a significant shift following a new policy direction that alters how one of its...

Tinubu’s executive order 9 sparks debate as FG insists it protects Nigeria’s oil revenue system

Business Damilola Bayonle -
FG defends Executive Order 9 as oil revenue safeguard The Federal Government has intensified its defence of its latest fiscal...

FAAC recovers N2.36tn, $7.87m as oil revenue audit uncovers massive arrears

Business Damilola Bayonle -
FAAC recovers N2.36tn, $7.87m oil revenue arrears Nigeria’s Federation Account Allocation Committee (FAAC) has recovered a cumulative N2.36tn and $7.87m...

States Pay N455bn to Service Foreign Loans in 2025, Lagos and Rivers Lead Debt Burden

Business Damilola Bayonle -
States pay N455bn to service foreign loans as debt deductions tighten fiscal space Nigeria’s 36 states collectively surrendered N455.38bn from...

NNPC remittance to FAAC plummets 86% in 2025 – Nigeria’s oil revenue crisis deepens

Business Damilola Bayonle -
Nigeria’s oil revenue took a severe hit in 2025, with the Nigerian National Petroleum Company (NNPC) remitting only N604.61...

FG releases N2.45tn to states for infrastructure and security as fiscal support deepens

Business Damilola Bayonle -
FG Disburses N2.45tn to States for Infrastructure, Security The Federal Government has disbursed a total of N2.45 trillion to state...

Federation account inflows hit ₦23.06tn as tax reforms transform Nigeria’s revenue system

Business Damilola Bayonle -
Nigeria’s public finance landscape recorded a major milestone in 2025 as Federation Account inflows climbed to ₦23.06 trillion within...

Governors vs NNPC: Inside the explosive $42bn revenue dispute shaking oil sector

Business Damilola Bayonle -
Fresh Dispute Deepens as Governors vs NNPC Clash Over Remittance Audit A renewed standoff has emerged between the Nigeria Governors’...

Renewed Hope Ward Development Programme: Inside FG’s controversial N900bn disbursement amid contractor protests

Business Damilola Bayonle -
Surge in Funding for the Renewed Hope Ward Development Programme The Federal Government has released a staggering N900bn to drive...

Nigeria’s oil tax revenue falls 53% amid production shortfalls and fiscal strain

Business Damilola Bayonle -
Nigeria’s oil tax revenue experienced a sharp decline in September 2025, dropping by more than half compared to the...