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FAAC Distributes N1.41tn as October Revenue Surges to N2.668tn

The Federation Accounts Allocation Committee (FAAC) has distributed N1.411 trillion among the three tiers of government and other stakeholders for October 2024. This amount represents a significant portion of the N2.668 trillion gross revenue generated during the month. The increase in revenues from oil and gas royalties, excise duty, Value Added Tax (VAT), import duty, […]

Federal Government Boosts Rural Power Supply with Mini-Grids

In an effort to improve electricity access in rural communities and provide relief from the recent removal of subsidy on petrol, the Federal Government has stepped up the deployment of mini-grids. These mini-grids, as announced by the Rural Electrification Agency (REA) in Abuja, will bring round-the-clock power supply to the communities where they are installed. […]

Public Debt in Nigeria Surpasses N49.95 Trillion, Requires Stronger Revenues

The Debt Management Office (DMO) has revealed that Nigeria’s total public debt has reached a staggering N49.95 trillion (equivalent to $108.30 billion) as of March. This, the DMO said, includes the combined external and domestic debts of the Federal Government, the 36 states, and the Federal Capital Territory (FCT). This significant increase in the country’s […]

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