FG s loan: States need 3times current IGR to offset debt burdens ― Report tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
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FAAC: FG, states, LGs share N680 billion
On
Emma Ujah – Abuja
The Federation Accounts Allocation Committee (FAAC), shared the sum od N680 billion among the three tiers of government Thursday.
The money was from the revenue that accrued to the federation in the month of March, which has been distributed to enable government meet its financial obligations for the month of April.
An official of the Federal Ministry of Finance, Budget and National Planning who disclosed the amount distributed, did not provide details of what each tier of government received.
He said that top officials of the ministry and the FAAC were preparing the Communique/statement.
FG, states, LGs shared N681 33bn in March –FAAC punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
FG, States, LGAs share N681.330bn revenue for March
From left: Director of Federal Account Allocation Committee (FAAC), Sabo Usman; Director of Funds, Federal Ministry of Finance, Muhammed Kudu Usman; and Accountant-General of the Federation, Ahmad Idris, during the Federal Account Allocation Committee’s meeting in Kaduna
By
Fri Apr 23 2021
The federal, states and local governments have shared a total of N681.33 billion as March 2021 federation revenue.
The communiqué released after the April Federation Accounts Allocation Committee (FAAC) meeting also showed that in the month of March 2021, N154 billion was transferred to the non-oil revenue savings and the balance in the Excess Crude Account (ECA) was $ 72.413 million.
BENIN CITY – The Youth Party has frowned at the continuous waste of public resources on irrelevant overheads and consumption by the federal government.
The Party, in a statement by its National Chairman, Tomiwa Aladekomo expressed great displeasure at the country’s sustenance of government’s non-productive recurrent expenditure, unlike other countries of the world that adopt quantitative easing to stimulate the economy.
It noted that while it wasn’t uncommon for the Central Bank of Nigeria (CBN) to print money, the issue lies with what that money is used to fund, adding, “In our case, unfortunately, it is unnecessary overheads and consumption.”