Tag: Allocations
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LG crisis: Osun Assembly demands release of withheld allocations
The Osun House of Assembly on Thursday called on the Federal Government to release the withheld monthly allocations due the local government areas in the state through the subsisting council accounts.
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LG autonomy: Councils to start receiving direct payment of allocations next month
Foreclosing any last-minute change of plan, councils will begin to get direct allocation from the Federation Account next month. It will begin with the disbursement of this month’s allocation to the tiers of government, a source told our correspondent at the weekend. The direct receipt from the Federation Account Allocation Committee (FAAC) will end the…
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Reps want upward review of BPE’s annual budgetary allocations
The House of Representatives has urged the Federal Government through the Ministry of Budget and Economic Planning to review the budgetary allocation of the Bureau of Public Procurement in line with current realities in subsequent budget estimates to enable successful discharge of the Bureau’s core mandate. The House also urged the BPP to collaborate with…
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FAAC reveals how much shared to States, LGs, FG in May
The Federation Accounts Allocation Committee (FAAC), on Monday shared N1.143 trillion among the Federal Government, states and Local Government Councils (LGCs) for May.
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Reps pass N2.1trn supplementary Bill for second reading
The House of Representatives has passed for second reading the 2023 Supplementary budget of N2,176 trillion on Tuesdayatplenary. The was sequel to the receipt of a letter from President Bola Ahmed Tinubu seeking the consideration and approval. The President also presented the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to the House.…
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Half of Nigeria’s 36 states insolvent, survive on allocations from FG – Report
The Economic Confidential has released its Annual States Viability Index (ASVI) which shows that 17 states are insolvent as their Internally Generated Revenues (IGR) in 2017 were far below 10 per cent of their receipts from the Federation Account Allocations (FAA) in the same year. The index proved that without the monthly disbursement from the…