Tag: states
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Dwindling revenue: FG warns states to cut down on overhead, ensure fiscal discipline
The federal government on Monday advised states willing to raise their Internally Generated Revenue (IGR), to cut down on unnecessary overhead costs and ensure fiscal discipline. Finance Minister Mrs. Zainab Ahmed, who gave the counsel, said the application of such measures will enable governments at the states to properly manage the resources at their disposal.…
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FAAC: FG, States, LGAs share N698.71b for September
The Federal Government, 36 States and FCT as well as 774 Local Governments on Thursday shared N698.7billion for the month of September. The Minister of Finance, Mrs Zainab Ahmed, said this in Abuja, while briefing newsmen on the outcome of the Federation Account Allocation Committee (FAAC) meeting. Giving a breakdown of the revenue accrued in…
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UBEC to release N142.5bn to states
The Universal Basic Education Commission (UBEC) will be disbursing N142.58 billion to support educational development in all states of the country, the Minister of Education, Malam Adamu Adamu, has said. Adamu made this known in Kaduna on Wednesday at the opening of a two-day Northern Nigeria Traditional Leaders Conference on Out-of-School Children. The conference was…
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Fed Govt, states debts rise to $22b – DMO
The Debt Management Office (DMO) on Wednesday put Nigeria’s external debt stock at $22 billion. Out of the amount, the Federal Government’s quotient is $17.8 billion, while the combined debt portfolio by the states and the Federal Capital Territory (FCT) stands at $4.28 billion. Of the combined states’ figure, Lagos State, the commercial nerve-centre of…
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Respite for workers as FAAC releases N668bn to FG, states, LGs to pay salaries
The Federation Accounts and Allocation Committee (FAAC) reached a compromise to release N668.898 billion to the three tiers of government for the month of May, pending the resolution of issues raised by the state governors over remittances from the Nigerian National Petroleum Corporation (NNPC). The Federal Ministry of Finance on Friday, that, the move was…
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TUC, NLC demand probe of bailout funds to states
The Organised Labour has called for immediate probe of state governments involved in diversion of bailout funds meant for payment of salaries and pension arrears in the country. President, Trade Union Congress (TUC), Mr Bobboi Kaigama, made the call at the 2018 May Day celebration for workers in the country on Tuesday in Abuja. The…
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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…
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Wike canvasses separate minimum wages for states
Rivers State Governor, Nyesom Ezenwo Wike has stated that Nigerian workers will be better off when states are allowed to fix their separate minimum wages in line with their financial capacity to pay. Speaking during a public hearing on the new national minimum wage for Nigerian workers for the South-South geo-political zone in Port Harcourt…
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FAAC: FG, States, LGs settle differences with NNPC; share N626.8b for April
The federal government, states and local governments shared N626.8 billion for the month of April. Ahmed Idris, the Accountant-General of the Federation (AGF), said this on Thursday in Abuja, while briefing Journalists on the outcome of the Federal Account Allocation Committee (FAAC) meeting. Giving a breakdown of the revenue accrued in March, Mr Idris said…
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States will get refunds for expenditures on federal roads – Buhari
…Commends security agencies for peace efforts in Zamfara President Muhammadu Buhari on Thursday assured state governors of getting refunds for their efforts at fixing federal road networks in their domains. The President dropped the hint during his visit to Zamfara State after Governor AbdulAziz Yari’s request for the refund of the N56 billion being owed…