Tag: FAAC
FAAC: FG, States, LGs share N619.3bn for December 2020
The Federal Government, States and Local Government Councils (LGCs) have shared N619.343 billion as federation allocation for December, 2020. Mr. Hassan Dodo, Director of Information, Ministry of Finance, Budget and National Planning announced this on Wednesday in Abuja. Dodo said the allocation was released after a virtual conference of the Federation Accounts Allocation Committee (FAAC). ...COVID-19 Second Wave: Govs to meet over Wednesday as schools re-open
The Nigerian Governors Forum on Monday said it will meet on Wednesday to chart a way out of the second wave of the pandemic as schools reopen across the country. In a statement signed by its spokesman Abdulrazaque Bello-Barkindo, the Governors forum said it was alarmed by the intensity of the second wave of the ...FAAC: FG, States, LGs share N639.9bn for Sept, as FG sees decline in VAT revenue
The Federal Government (FG) states and local government councils have shared N639.901 billion for the month of September, Mr. Aliyu Ahmed, Permanent Secretary, Ministry of Finance, Budget and National Planning, has said. Mr. Hassan Dodo, Director of Information in the ministry, quoted Ahmed as disclosing this in a statement issued at the end of the Federation ...Edo election: Placing a visa ban on anyone found guilty of rigging, forced people to act appropriately -Wike
Governor Nyesom Wike of Rivers State has said that the international community played a huge role in ensuring a smooth governorship election in Edo State. Speaking on Channels TV’s Sunrise Daily on Friday, the governor explained that threatening to place a visa ban on anyone found guilty of rigging, forced people to act appropriately. “One ...Financial autonomy for states’ judiciary, legislature to top agenda as govs meet Wednesday
The Nigeria Governors’ Forum will on Wednesday, meet to discuss the issue of financial autonomy for the states’ judiciary and legislature, code-named the Executive Order 10, 2020. A statement issued by Mr Abdulrazaque Bello-Barkindo, Head, Media and Public Affairs, NGF, on Tuesday in Abuja indicated that the consultation would be the 9th in the series ...FG plans to amend 2020 budget oil benchmark to $20pb
The Federal Government says it is planning to review the 2020 budget to reflect an oil benchmark of $20 per barrel. Reuters report that the Minister of Finance, Budget and National Planning Minister, Zainab Ahmed, disclosed this on Tuesday during a web conference about the impact of low oil prices on Nigeria’s economy. A further ...President Buhari approves withdrawal of $150m from NSIA Stabilisation Fund
President Muhammadu Buhari has approved the withdrawal of 150 million dollars from the Nigeria Sovereign Investment Authority (NSIA) Stabilization Fund to support the June 2020 FAAC disbursement. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this during a news conference on the fiscal stimulus measures in response to the COVID-19 pandemic ...VAT increase : States, LGs to get more allocation from February
Mr Ahmed Idris, Accountant-General of the Federation says States and Local Government Councils will receive additional funds from February following the implementation of the 7.5 increase in Value Added Tax (VAT). Idris made the assertion on Wednesday while speaking with newsmen at the sideline of the Federation Account Allocation Committee (FAAC) 2020 Retreat in Lagos. The ...There’s no multiple taxation in Lagos – Sanwo-Olu assures start-ups
Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Mamman Nami and Lagos State Governor, Mr. Babajide Sanwo-Olu during a courtesy visit to the Governor at Lagos House, Alausa, Ikeja, on Tuesday Governor Babajide Sanwo-Olu on Tuesday said there is currently no multiple taxation in Lagos State revenue system. According to him, his administration will ...MPC urges FG to build cushions to help reduce rising public debt
The Federal Government has been asked to caution the rate at which all the proceeds from the Federal allocation are being shared across all tiers of government. This is according to the Monetary Policy Committee (MPC) of the Central Bank of Nigeria who disclosed this on Friday at the apex bank’s headquarters in Abuja. The ...
