Tag: FAAC
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FAAC foreign currency rate gain reaches N2.84 trillion by 2023
The Federal Accounts Allocation Committee (FAAC) foreign exchange (FX) rate gain for the federal, state, and local governments was N2.52 trillion last year.
The sum...
What next after the fat FAAC for governors?
The eight-year administration of ex-President Muhammadu Buhari, was amongst others, characterized by indulgence and generosity to state governors in form of bailouts to their states. Variously...
President Tinubu Approves Establishment Of Infrastructure Support Fund For States
President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the Federation as part of measures to...
Only N907bn to Be Shared as FAAC from N1.9trn June Revenue- Fed Govt
The Federal Government says it will only distribute N907 billion out of the June 2023 distributable revenue of N1.9 trillion, to the 36 states...
Excess Crude Account Is Now $474,754 – FAAC
This was stated in the communiqué that was released following the FAAC meeting in April 2023.
The entire distributable revenue of N714.629 billion was made...
