Nigerian govt proposes reduction in FAAC share …C0NTINUE READING HERE >>>
The federal government has proposed a major shift in the distribution of funds from the Federation Account Allocation Committee, FAAC.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, revealed this via his X handle on Sunday.
Oyedele said the federal government was set to take only 10 percent of the total FAAC allocations while states and local governments will receive a combined 90 percent.
This represents a drastic departure from the current sharing formula, which allocates 52.68 percent to the federal government, 26.72 percent to states, and…
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