FAAC – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Sat, 09 May 2026 15:00:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png FAAC – InfoStride News https://www.theinfostride.com 32 32 States earn N1.18tn VAT under new formula https://www.theinfostride.com/states-earn-n1-18tn-vat-under-new-formula/ https://www.theinfostride.com/states-earn-n1-18tn-vat-under-new-formula/#respond Sat, 09 May 2026 15:00:48 +0000 https://www.theinfostride.com/?p=483389 Nigeria’s subnational governments have collectively received about ₦1.18 trillion in Value Added Tax (VAT) allocations following adjustments to the revenue-sharing structure, reflecting shifts in fiscal distribution under the country’s evolving tax framework. The development highlights how recent reforms in revenue allocation are reshaping public finance at the state level. The VAT proceeds are distributed monthly [...]

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]]> https://www.theinfostride.com/states-earn-n1-18tn-vat-under-new-formula/feed/ 0 FG Withdraws ₦256.5bn for Gas Infrastructure Development in First Half of 2025 https://www.theinfostride.com/fg-withdraws-%e2%82%a6256-5bn-for-gas-infrastructure-development-in-first-half-of-2025/ https://www.theinfostride.com/fg-withdraws-%e2%82%a6256-5bn-for-gas-infrastructure-development-in-first-half-of-2025/#respond Thu, 22 Jan 2026 06:12:47 +0000 https://www.theinfostride.com/?p=465219 The Federal Government has deducted a total of ₦256.5 billion from the Federation Account during the first half of 2025 to fund critical gas infrastructure projects across the country. The deductions were made under the statutory Gas Infrastructure Fund (GIF), which was created to support the development, expansion, and maintenance of gas pipelines, processing plants, [...]

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]]> https://www.theinfostride.com/fg-withdraws-%e2%82%a6256-5bn-for-gas-infrastructure-development-in-first-half-of-2025/feed/ 0 Federal, State and Local Governments Receive ₦1.93 Trillion From November Revenue Allocation https://www.theinfostride.com/federal-state-and-local-governments-receive-%e2%82%a61-93-trillion-from-november-revenue-allocation/ https://www.theinfostride.com/federal-state-and-local-governments-receive-%e2%82%a61-93-trillion-from-november-revenue-allocation/#respond Tue, 16 Dec 2025 14:25:40 +0000 https://www.theinfostride.com/?p=473601 The Federal Government, states and local government councils shared a total of ₦1.93 trillion as revenue for the month of November, reflecting improved inflows from statutory sources amid ongoing fiscal pressures across all tiers of government. Reports by Punch and other Nigerian news outlets indicate that the allocation was approved at the meeting of the [...]

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]]> https://www.theinfostride.com/federal-state-and-local-governments-receive-%e2%82%a61-93-trillion-from-november-revenue-allocation/feed/ 0 FG, States and Local Governments Share N2.09 Trillion October Allocation https://www.theinfostride.com/fg-states-and-local-governments-share-n2-09-trillion-october-allocation/ https://www.theinfostride.com/fg-states-and-local-governments-share-n2-09-trillion-october-allocation/#respond Thu, 20 Nov 2025 16:58:04 +0000 https://www.theinfostride.com/?p=471964 The Federation Account Allocation Committee has released a total of N2.09 trillion to the federal government, the 36 states and the 774 local government councils as revenue for October, marking another significant injection into the Nigerian economy amid ongoing fiscal pressures. The disbursement reflects the continued rise in gross federally collected revenue, although officials confirmed [...]

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]]> https://www.theinfostride.com/fg-states-and-local-governments-share-n2-09-trillion-october-allocation/feed/ 0 Oil Tax Revenue Drops by 53%, Says FAAC Report https://www.theinfostride.com/oil-tax-revenue-drops-by-53-says-faac-report/ https://www.theinfostride.com/oil-tax-revenue-drops-by-53-says-faac-report/#respond Wed, 22 Oct 2025 13:52:32 +0000 https://www.theinfostride.com/?p=469731 Nigeria’s oil tax revenue plunged by 53% in the first half of 2025, according to the latest report released by the Federation Account Allocation Committee (FAAC). The steep decline underscores the ongoing challenges facing the country’s petroleum sector despite rising global oil prices and efforts to stabilise domestic production. The FAAC report revealed that oil-related [...]

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]]> https://www.theinfostride.com/oil-tax-revenue-drops-by-53-says-faac-report/feed/ 0 FAAC distributed N2.103 trillion to the Federal, State, and Local Governments for their September allocations https://www.theinfostride.com/faac-distributed-n2-103-trillion-to-the-federal-state-and-local-governments-for-their-september-allocations/ https://www.theinfostride.com/faac-distributed-n2-103-trillion-to-the-federal-state-and-local-governments-for-their-september-allocations/#respond Fri, 17 Oct 2025 18:51:05 +0000 https://www.theinfostride.com/?p=469335 The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦2.103 trillion to the federal, state, and local governments as revenue allocation for September 2025, marking one of the highest monthly disbursements in recent years. The surge in allocation reflects improved revenue generation from the oil and non-oil sectors, as well as enhanced remittances [...]

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]]> https://www.theinfostride.com/faac-distributed-n2-103-trillion-to-the-federal-state-and-local-governments-for-their-september-allocations/feed/ 0 FAAC Allocates ₦2.2tn to Federal, States and LGs for August https://www.theinfostride.com/faac-allocates-%e2%82%a62-2tn-to-federal-states-and-lgs-for-august/ https://www.theinfostride.com/faac-allocates-%e2%82%a62-2tn-to-federal-states-and-lgs-for-august/#respond Thu, 18 Sep 2025 16:08:33 +0000 https://www.theinfostride.com/?p=466816 The Federation Account Allocation Committee (FAAC) has announced the disbursement of ₦2.2 trillion to the Federal Government, states, and local government councils as revenue allocation for August 2025. The figure represents one of the highest monthly disbursements in recent years and reflects improved collections from oil and non-oil sources amid ongoing fiscal reforms. According to [...]

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]]> https://www.theinfostride.com/faac-allocates-%e2%82%a62-2tn-to-federal-states-and-lgs-for-august/feed/ 0 FAAC Set to Recover ₦101 Billion from Customs Following Audit https://www.theinfostride.com/faac-set-to-recover-%e2%82%a6101-billion-from-customs-following-audit/ https://www.theinfostride.com/faac-set-to-recover-%e2%82%a6101-billion-from-customs-following-audit/#respond Tue, 05 Aug 2025 09:39:52 +0000 https://www.theinfostride.com/?p=464017 The Federation Account Allocation Committee (FAAC) has announced plans to recover ₦101 billion from the Nigerian Customs Service after an internal audit report revealed discrepancies and under-remittance of funds meant for allocation across federal, state, and local governments. According to sources within the revenue distribution mechanism, the audit uncovered that Customs collected this amount but [...]

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]]> https://www.theinfostride.com/faac-set-to-recover-%e2%82%a6101-billion-from-customs-following-audit/feed/ 0 FAAC Allocates ₦1.818 Trillion to Federal, State and Local Governments Following ₦1.39 Trillion Revenue Surge https://www.theinfostride.com/faac-allocates-%e2%82%a61-818-trillion-to-federal-state-and-local-governments-following-%e2%82%a61-39-trillion-revenue-surge/ https://www.theinfostride.com/faac-allocates-%e2%82%a61-818-trillion-to-federal-state-and-local-governments-following-%e2%82%a61-39-trillion-revenue-surge/#respond Sun, 20 Jul 2025 11:48:14 +0000 https://www.theinfostride.com/?p=462436 The Federation Account Allocation Committee (FAAC) has disbursed a substantial sum of ₦1.818 trillion to the federal government, states, and local government councils across Nigeria, following a striking increase of ₦1.39 trillion in available revenue during the latest distribution cycle. This upward shift represents one of the largest revenue inflows recorded in recent times and reflects improved [...]

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]]> https://www.theinfostride.com/faac-allocates-%e2%82%a61-818-trillion-to-federal-state-and-local-governments-following-%e2%82%a61-39-trillion-revenue-surge/feed/ 0 FG, States, LGs Share N1.7tn November Revenue – FAAC https://www.theinfostride.com/fg-states-lgs-share-n1-7tn-november-revenue-faac/ https://www.theinfostride.com/fg-states-lgs-share-n1-7tn-november-revenue-faac/#respond Sun, 15 Dec 2024 23:07:46 +0000 https://www.theinfostride.com/?p=397761 The Federation Account Allocation Committee (FAAC) has distributed a total of N1.7 trillion among the federal, state, and local governments as revenue for November 2024. This marks one of the highest disbursements in recent months, driven by increased oil earnings and tax collections. Revenue Breakdown The N1.7 trillion allocation was derived from various sources, including: [...]

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]]> https://www.theinfostride.com/fg-states-lgs-share-n1-7tn-november-revenue-faac/feed/ 0 FG, States, LGAs Share N1.41tn October Revenue – FAAC https://www.theinfostride.com/fg-states-lgas-share-n1-41tn-october-revenue-faac/ https://www.theinfostride.com/fg-states-lgas-share-n1-41tn-october-revenue-faac/#respond Thu, 21 Nov 2024 09:55:18 +0000 https://www.theinfostride.com/?p=395145 The Federal Government, state governments, and Local Government Areas (LGAs) have collectively shared a total of N1.41 trillion as revenue for October 2024, according to the Federation Accounts Allocation Committee (FAAC). This disbursement marks a significant achievement for Nigeria’s public finance system, with the revenue shared among the three tiers of government to support their [...]

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]]> https://www.theinfostride.com/fg-states-lgas-share-n1-41tn-october-revenue-faac/feed/ 0 Report: 32 States Rely on FAAC for 55% of Revenue https://www.theinfostride.com/report-32-states-rely-on-faac-for-55-of-revenue/ https://www.theinfostride.com/report-32-states-rely-on-faac-for-55-of-revenue/#respond Wed, 30 Oct 2024 12:12:13 +0000 https://www.theinfostride.com/?p=392595 A recent report has revealed that 32 of Nigeria’s 36 states depend on allocations from the Federation Account Allocation Committee (FAAC) for a significant portion of their revenue, with some states deriving as much as 55% or more of their funds from federal disbursements. This reliance highlights the fiscal challenges many Nigerian states face and [...]

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]]> https://www.theinfostride.com/report-32-states-rely-on-faac-for-55-of-revenue/feed/ 0 Wale Edun Addresses Concerns Over FAAC Disbursement Impacting Naira Depreciation https://www.theinfostride.com/wale-edun-addresses-concerns-over-faac-disbursement-impacting-naira-depreciation/ https://www.theinfostride.com/wale-edun-addresses-concerns-over-faac-disbursement-impacting-naira-depreciation/#respond Tue, 29 Oct 2024 21:26:15 +0000 https://www.theinfostride.com/?p=392573 In a recent statement, Wale Edun, Nigeria’s Minister of Finance, has responded to growing concerns regarding the potential impact of the Federal Account Allocation Committee (FAAC) disbursements on the depreciation of the naira. The financial landscape in Nigeria has been under significant scrutiny, particularly as the naira continues to experience volatility against major currencies. Edun’s [...]

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]]> https://www.theinfostride.com/wale-edun-addresses-concerns-over-faac-disbursement-impacting-naira-depreciation/feed/ 0 FG, States, LGs Share N1.298tn Revenue for September – FAAC https://www.theinfostride.com/fg-states-lgs-share-n1-298tn-revenue-for-september-faac/ https://www.theinfostride.com/fg-states-lgs-share-n1-298tn-revenue-for-september-faac/#respond Sat, 19 Oct 2024 21:07:57 +0000 https://www.theinfostride.com/?p=391514 The Federal Account Allocation Committee (FAAC) has distributed a total of N1.298 trillion among the Federal Government, state governments, and local governments as revenue generated for September 2024. The revenue sharing, which took place during the FAAC’s monthly meeting, reflects continued efforts to distribute the nation’s wealth equitably among the three tiers of government. The [...]

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]]> https://www.theinfostride.com/fg-states-lgs-share-n1-298tn-revenue-for-september-faac/feed/ 0 CNPP Demands Urgent Forensic Audit of NNPC’s Financial Activities Under Mele Kyari https://www.theinfostride.com/cnpp-demands-urgent-forensic-audit-of-nnpcs-financial-activities-under-mele-kyari/ https://www.theinfostride.com/cnpp-demands-urgent-forensic-audit-of-nnpcs-financial-activities-under-mele-kyari/#respond Thu, 22 Aug 2024 11:00:46 +0000 https://www.theinfostride.com/?p=387578 The leadership of the Conference of Nigeria Political Parties (CNPP) has issued a strong call for an independent forensic audit of the Nigerian National Petroleum Company Limited (NNPC), focusing on the period of Engineer Mele Kyari’s leadership from 2020 to the present. This demand comes in response to recent revelations regarding NNPC’s financial operations, which [...]

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]]> https://www.theinfostride.com/cnpp-demands-urgent-forensic-audit-of-nnpcs-financial-activities-under-mele-kyari/feed/ 0 FAAC Allocations: 774 LG councils accuse state Finance commissioners of colluding with Governors, threaten legal action https://www.theinfostride.com/faac-allocations-774-lg-councils-accuse-state-finance-commissioners-of-colluding-with-governors-threaten-legal-action/ https://www.theinfostride.com/faac-allocations-774-lg-councils-accuse-state-finance-commissioners-of-colluding-with-governors-threaten-legal-action/#respond Wed, 31 Jul 2024 18:36:11 +0000 https://www.theinfostride.com/?p=386067 The Incorporated Trustees of the Association of Local Governments of Nigeria (ALGON) have accused State Commissioners for Finance of conspiring with governors to obstruct the direct payment of allocations from the federation account to the 774 local government councils’ accounts.  This accusation was made in a letter addressed to the Chairman of the Forum of [...]

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]]> https://www.theinfostride.com/faac-allocations-774-lg-councils-accuse-state-finance-commissioners-of-colluding-with-governors-threaten-legal-action/feed/ 0 Federal, State, and Local Governments Share N1.15 Trillion as FAAC Revenue Witnesses Increase https://www.theinfostride.com/federal-state-and-local-governments-share-n1-15-trillion-as-faac-revenue-witnesses-increase/ https://www.theinfostride.com/federal-state-and-local-governments-share-n1-15-trillion-as-faac-revenue-witnesses-increase/#respond Sat, 24 Feb 2024 13:40:51 +0000 https://www.theinfostride.com/?p=371707 The Federation Accounts Allocation Committee (FAAC) has announced the distribution of N1.15 trillion among the Federal Government, states, and local governments, marking an increase in revenue. This development, as reported by FAAC, reflects positive trends in Nigeria’s financial landscape. The Infosride delves into the details of this revenue distribution, analyzes the factors contributing to the [...]

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]]> https://www.theinfostride.com/federal-state-and-local-governments-share-n1-15-trillion-as-faac-revenue-witnesses-increase/feed/ 0 States to Get N5.5 Trillion FAAC Allocations in 2024 https://www.theinfostride.com/states-to-get-n5-5-trillion-faac-allocations-in-2024/ https://www.theinfostride.com/states-to-get-n5-5-trillion-faac-allocations-in-2024/#respond Wed, 14 Feb 2024 21:47:31 +0000 https://www.theinfostride.com/?p=370403 States in Nigeria are projected to receive N5.5 trillion in Federal Accounts Allocation Committee (FAAC) allocations in 2024. This financial projection holds implications for state governments, public services, and the overall fiscal landscape. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the allocation criteria, the potential impact on [...]

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]]> https://www.theinfostride.com/states-to-get-n5-5-trillion-faac-allocations-in-2024/feed/ 0 House of Reps Probes States’ Utilisation of Increased FAAC Allocations https://www.theinfostride.com/house-of-reps-probes-states-utilisation-of-increased-faac-allocations/ https://www.theinfostride.com/house-of-reps-probes-states-utilisation-of-increased-faac-allocations/#respond Mon, 12 Feb 2024 20:30:47 +0000 https://www.theinfostride.com/?p=370289 The House of Representatives has directed its Committees on Special Duties, National Planning, and Economic Development to investigate the spending and utilization of increased allocations from the Federal Account Allocation Committee (FAAC) by state governments. Additionally, the Committee on Inter-Governmental Affairs has been mandated to join the investigation and report back to the house within [...]

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]]> https://www.theinfostride.com/house-of-reps-probes-states-utilisation-of-increased-faac-allocations/feed/ 0 FAAC Sub-Committee Urges Federal Government to Repay N228 Billion Borrowed for 2023 General Elections https://www.theinfostride.com/faac-sub-committee-urges-federal-government-to-repay-n228-billion-borrowed-for-2023-general-elections/ https://www.theinfostride.com/faac-sub-committee-urges-federal-government-to-repay-n228-billion-borrowed-for-2023-general-elections/#respond Sun, 14 Jan 2024 01:00:27 +0000 https://www.theinfostride.com/?p=367188 In a notable development, the Federation Accounts Allocation Committee (FAAC) sub-committee has recommended that the Federal Government repays a sum of N228 billion, which was borrowed to finance the 2023 general elections. This move signifies a focus on fiscal responsibility and the commitment to addressing outstanding financial obligations. ### **Key Points:** 1. **Election Financing Borrowing:** [...]

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]]> https://www.theinfostride.com/faac-sub-committee-urges-federal-government-to-repay-n228-billion-borrowed-for-2023-general-elections/feed/ 0 FAAC Windfall: Weak Naira Boosts Federation Account by N101.98 Billion in a Month https://www.theinfostride.com/faac-windfall-weak-naira-boosts-federation-account-by-n101-98-billion-in-a-month/ https://www.theinfostride.com/faac-windfall-weak-naira-boosts-federation-account-by-n101-98-billion-in-a-month/#respond Tue, 19 Dec 2023 19:28:38 +0000 https://www.theinfostride.com/?p=364804 Infostride News reports that in November 2023, the Federation Account witnessed a substantial increase in Exchange Difference revenue, accumulating an impressive N364.87 billion. This marked a noteworthy surge of N101.98 billion compared to the N262.89 billion recorded in October of the same year. The surge signals a positive impact of the country’s unified exchange rates [...]

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]]> https://www.theinfostride.com/faac-windfall-weak-naira-boosts-federation-account-by-n101-98-billion-in-a-month/feed/ 0 FAAC Distributes N903.48bn in September to FG, States, and LGs https://www.theinfostride.com/faac-distributes-n903-48bn-in-september-to-fg-states-and-lgs/ https://www.theinfostride.com/faac-distributes-n903-48bn-in-september-to-fg-states-and-lgs/#respond Thu, 26 Oct 2023 00:26:59 +0000 https://www.theinfostride.com/?p=358317 Infostride News reports that the Federation Account Allocation Committee (FAAC) has recently disbursed a total sum of N903.48 billion to the three tiers of government for the month of September 2023. This revelation was made during FAAC’s latest meeting, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. [...]

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]]> https://www.theinfostride.com/faac-distributes-n903-48bn-in-september-to-fg-states-and-lgs/feed/ 0 September FAAC Allocation: N903.4 Billion Split Among FG, States, and Local Governments https://www.theinfostride.com/september-faac-allocation-n903-4-billion-split-among-fg-states-and-local-governments/ https://www.theinfostride.com/september-faac-allocation-n903-4-billion-split-among-fg-states-and-local-governments/#respond Wed, 25 Oct 2023 22:27:33 +0000 https://www.theinfostride.com/?p=358253 The Federation Account Allocation Committee (FAAC) has, in its latest meeting held in October 2023, disbursed a total of N903.4 billion in Federation Account Revenue for the month of September 2023 to various tiers of the government in Nigeria. This allocation, as reported by Infostride News, encompasses the Federal Government, States, and Local Government Councils, [...]

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]]> https://www.theinfostride.com/september-faac-allocation-n903-4-billion-split-among-fg-states-and-local-governments/feed/ 0 FAAC shares N673.137 billion to FG, states and LGs in August https://www.theinfostride.com/faac-shares-n673-137-billion-to-fg-states-and-lgs-in-august/ https://www.theinfostride.com/faac-shares-n673-137-billion-to-fg-states-and-lgs-in-august/#respond Sat, 24 Sep 2022 19:05:59 +0000 https://www.theinfostride.com/?p=333016 The Federation Account Allocation Committee (FAAC) shared a total sum of N673.137 billion in August 2022 from the Federation Account Revenue to the federal government, states and local government councils. This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for September 2022, signed by Henshaw Ogubike, [...]

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]]> https://www.theinfostride.com/faac-shares-n673-137-billion-to-fg-states-and-lgs-in-august/feed/ 0 PDP Govs Describe APC As A Menace, Decry Nnpc’s Inability To Contribute To FAAC https://www.theinfostride.com/pdp-govs-describe-apc-as-a-menace-decry-nnpcs-inability-to-contribute-to-faac/ https://www.theinfostride.com/pdp-govs-describe-apc-as-a-menace-decry-nnpcs-inability-to-contribute-to-faac/#respond Wed, 23 Mar 2022 12:00:37 +0000 https://www.theinfostride.com/?p=321225 Governors elected on the platform of the Peoples Democratic Party (PDP) has described the ruling All Progressives Congress (APC) as a menace to Nigeria. PDP Governors Forum in a communique issued at the end of its meeting in Aba, Abia State on Wednesday also decried the inability of the Nigerian National Petroleum Corporation (NNPC) to [...]

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]]> https://www.theinfostride.com/pdp-govs-describe-apc-as-a-menace-decry-nnpcs-inability-to-contribute-to-faac/feed/ 0 Finance Minister Discloses FG, States, LGs Share N369bn For November 2015 https://www.theinfostride.com/finance-minister-discloses-fg-states-lgs-share-n369bn-for-november-2015/ Wed, 23 Dec 2015 13:14:05 +0000 http://www.theinfostride.com/?p=114746 Nigeria’s Minister of Finance, Mrs Kemi Adeosun, on Tuesday, December 22, disclosed that N369.9billion was shared among the Federal, States and Local Governments for November 2015. She stated this when she addressed journalists on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting in Abuja. She added that the amount comprised the month’s statutory revenue of [...]

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]]> Publish Rivers Statement Of Accounts, Amaechi Challenges Wike | #News https://www.theinfostride.com/amaechi-challenges-wike-to-publish-rivers-statement-of-accounts-news/ Tue, 01 Sep 2015 11:30:39 +0000 http://www.theinfostride.com/2015/09/amaechi-challenges-wike-to-publish-rivers-statement-of-accounts-news/   Former Rivers State Governor, Rotimi Amaechi has challenged Governor Nyesom Wike to publish the statements of government accounts with Skye Bank, FAAC, Zenith Bank and Access Bank, as he was sure he left about N7.5 billion as balance in the state Internally Generated Revenue (IGR) as at May 29, 2015, alongside money in other [...]

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]]> Every Bank Worker Now A Marketer As Liquidity Problem Worsens | #Nigeria https://www.theinfostride.com/every-bank-worker-now-a-marketer-as-liquidity-problem-worsens-nigeria/ Thu, 20 Aug 2015 07:30:04 +0000 http://www.theinfostride.com/2015/08/every-bank-worker-now-a-marketer-as-liquidity-problem-worsens-nigeria/ Some banks in Nigeria have given deposit targets to their workers as they face low cash inflow due to the shrinking of public sector funds component of banks’ deposit base. The overall cash inflow from the system in the month of August, so far, has been reported to be about N440 billion compared to about [...]

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