The Federation Accounts Allocation Committee (FAAC) disbursed a record N15.26 trillion to the federal, state, and local governments in 2024, reflecting a 43 per cent increase from the previous year.
The surge, detailed in the latest Nigeria Extractive Industries Transparency Initiative FAAC Quarterly Review, underscores the impact of key fiscal reforms, including fuel subsidy removal and exchange rate adjustments, which significantly boosted oil revenue remittances.
The report,…
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