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Federation Account Allocation Committee

NNPC: We’ve kept up with $5.1bn JVCC repayment plan

The Nigerian National Petroleum Corporation (NNPC) says it has kept to the terms of the agreement of the 5.1 billion dollars repayment plan it entered into with international oil companies with respect to the Joint Venture Cash Call (JVCC).

NNPC: Repayment of $5.1 billion cash call arrears to IOCs progressing

The Nigerian National Petroleum Corporation (NNPC) Sunday disclosed that it is making good progress with its repayment of the $5.1 billion negotiated cash call debts to International Oil Companies (IOCs) in Nigeria, stating that both the National Economic Council (NEC) and Federal Executive Council (FEC) are aware of the progress it has made so far.

Report: States withdrew N593 billion from federation account in three months

The 36 states of the federation have so far withdrawn about 593.1 billion from the Federation Account as revenue generated in the first quarter of 2018.

NEITI: Federal government, others shared N1.94 trillion in first three months of 2018

The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018 to the three tiers of Nigeria’s government, a report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed.

FEC approves N68.6 billion for roads projects, N10.7 billion for rice mills

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari at the Presidential Villa yesterday approved the sum of N68.6 billion for roads construction in the country.

NBS: Banks refund N654.49 million excess charges to federation account

Nigeria Bureau of Statistics (NBS) said that banks have refunded N654.49 million excess charges deducted from government bank accounts related to the federation account.

FAAC disburses N263.28 billion to federal government in February – NBS

The National Bureau of Statistics (NBS), says the Federal Government received a total of N263. 28 billion from the N635.55 billion Federation Account Allocation Committee (FAAC) disbursed to three tiers of government in February.

FAAC: Kemi Adeosun calls emergency meeting with NNPC chief

The Minister of Finance, Mrs Kemi Adeosun, says she is meeting with the NNPC GMD over discrepancies in payment into the Federation Account.

FAAC: Federal, states, local govts share N655.18 billion in January

The Federation Account Allocation Committee (FAAC), yesterday, announced the disbursement of the total sum of N635.55 billion to the three tiers of the federation for the month of February as revenue received in January 2018.

FAAC disbursements increase by 25% in 2017 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday in Abuja said the Federation Account Allocation Committee (FAAC) disbursements increased by 25 per cent in 2017.

FAAC: Federal, states, local govts share N655.17 billion for December

The Federation Account Allocation Committee on Tuesday shared N655.17 billion to the three tiers of government as revenue for December.

Federal govt makes N909 billion from VAT in one year – NBS

Between October 2016 and September 2017, the federation account received a total inflow of N908.9bn in Value Added Tax receipts from the Federal Inland Revenue Service, figures obtained from the National Bureau of Statistics have revealed.

Federal govt, others get N533 billion statutory allocation in November – NBS

The federal government, 36 states and 774 local government received N533 billion from the federation account as statutory allocation funds for November.

Fuel subsidy: Governor Fayose faults VP Yemi Osinbajo’s comment

Ekiti State Governor, Mr Ayodele Fayose, has faulted Vice President, Prof Yemi Osinbajo’s comment that the Nigerian National Petroleum Corporation, NNPC, was bearing the cost of fuel subsidy and not the federal government.

Christmas: Bayelsa workers groan over unpaid salaries

Several civil servants in Bayelsa may have a bleak Christmas as they are yet to be paid their November and December salaries.

Minister Kemi Adeosun condoles with Leadership over photojournalist’s death

The Minister of Finance, Kemi Adeosun, has expressed sadness over the news of the death of a senior photographer with the Leadership Newspaper, Christopher Danladi.

Bayelsa civil servants not paid December salary

In spite of directives by Governor Seriake Dickson that salary be paid, thousands of Bayelsa state civil servants were not paid for December.

Nigerian Governors’ Forum in emergency meeting at Aso Rock

An emergency session of the Nigeria Governors Forum (NGF) is currently on going at the State House Conference Center (Old Banquet Hall), Abuja.

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