Results for "Federation Account"

The national oil company transferred a substantial sum to the federal treasury between January and July, demonstrating strong fiscal contributions even as crude production faces headwinds.

This article is an archive page related to the Federal Accounts Allocation Committee (FAAC), which is responsible for distributing revenue from the Federation Account to Nigeria's three tiers of government.

The Nigerian National Petroleum Corporation (NNPC) announced a remittance of N19.5 trillion to the Federation Account over a 14-month period. This significant contribution highlights the NNPC's financial impact on the national economy.

A correction has been published regarding an article titled 'Šimunić published accounts of the volleyball federation, 150,000 euros mentioned: 'The problem is bigger than we think'' originally published on April 18, 2026.

Nigeria's House of Representatives has initiated efforts to recover over $7 billion in debt owed by foreign airlines to the Federation Account, citing fiscal pressures.

The 36 state governors, under the Nigeria Governors' Forum, have endorsed President Bola Tinubu's reforms requiring oil and gas revenue entitlements to be remitted directly into the Federation Account.

NEITI praises President Tinubu’s executive order aimed at blocking oil revenue leaks by mandating direct remittance of oil funds to the Federation Account. Read More: https://punchng.com/neiti-hails-tinubus-new-executive-order-for-blocking-oil-revenue-leaks/

The Joint Admissions and Matriculation Board (JAMB) has set a target of N23.8 billion as internally generated revenue (IGR) for the 2026 fiscal year, representing an increase of N4 billion over its 2025 projection. The post JAMB targets N23.8bn IGR in 2026, plans N6bn remittance to federation account appeared first on Vanguard News.

President Tinubu has mandated that all oil and gas revenues be directly remitted to Nigeria's Federation Account to enhance revenue, curb wasteful spending, and eliminate duplication.

The governor also disclosed that Kaduna State currently pays N6.7 billion monthly from its Federation Account Allocation Committee (FAAC) revenue to service loans inherited from previous…

The Arewa Development and Advocacy Network (ADNAN) has endorsed the Independent National Electoral Commission (INEC) Chairman’s call for direct funding from the Federation Account. The group urged the National Assembly to urgently enact legislation to support this.

The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.300 trillion among the federal, state, and local governments as revenue allocation for May 2026.

The Nigerian Senate is considering new legislation that proposes allocating one percent of the total revenue from the Federation Account to the police, aiming to expand their funding sources.

A submitted framework for establishing state police in Nigeria suggests they would handle local criminal offenses, domestic violence, homicide, and armed robbery, while receiving 3% from the Federation Account. Federal police would focus on national security and interstate crime.

Vanguard also reports that 36 state governors, operating under the Nigeria Governors’ Forum (NGF), have endorsed President Bola Tinubu’s policy mandating the direct payment of oil and gas revenue entitlements into the Federation Account. The post Nigerian newspapers review: [Middle-East war] No distress calls yet from Nigerians in Iran — FG appeared first on Vanguard News.

The Nigeria Governors’ Forum (NGF) has endorsed the direct remittance of oil revenue to the Federation Account, aiming to enhance fiscal transparency and predictability.

Nigerian President Tinubu has ordered the direct remittance of oil and gas revenues to the Federation Account, a move aimed at boosting transparency and fiscal discipline.

Emma Ujah, Abuja Bureau Chief The Director-General (D-G) of the Budget Office of the Federation (BoF), Mr. Tanimu Yakubu, has described as “constitutional,” the recent Executive Order (EO9) by President Bola Tinubu, for direct payment of oil and gas revenues into the Federation Account. In a statement he personally issued in Abuja, on Monday, Mr. […] The post Oil & Gas revenue Executive Order constitutional, says D-G Budget appeared first on Vanguard News.

The Federal Government, states, and local government areas in Nigeria have shared a total of N3 trillion from the Federation Account Allocation Committee (FAAC). This distribution represents the revenue allocated among the three tiers of government.

The Federation Account Allocation Committee (FAAC) has shared N2.55 trillion among the federal, state, and local governments as June revenue. This marks a significant increase in allocation compared to previous months.

Nigeria's Federation Account Allocation Committee (FAAC) allocation increased to N2.26 trillion in April 2026, primarily driven by higher tax collections.

Andrija Kević, procurator at Manavi consulting, has responded to an article published on Index concerning the accounts of the volleyball federation.

The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion among the three tiers of government as federation allocation for February 2026. The post FG, States, LGs share…

The 36 state governors, under the aegis of the Nigeria Governors’ Forum (NGF), have thrown their weight behind President Bola Tinubu’s reforms requiring oil and gas revenue entitlements to be…

Tinubu has signalled a broader overhaul of Nigeria’s petroleum governance framework following his executive order mandating direct remittance of oil and gas revenues into the Federation Account. The post Tinubu sets stage for comprehensive PIA review after executive revenue reset appeared first on Vanguard News.

Governors from Nigeria's South-South region have expressed support for President Tinubu’s executive order mandating direct oil revenue remittance to the Federation Account, hailing it as a historic decision.

NNPC Limited will no longer collect and manage the 30 per cent Frontier Exploration Fund. The post Tinubu signs Executive Order that slashes NNPC’s revenue, directs remittance to Federation Account appeared first on Premium Times Nigeria.