Stats: 3,173,589 members, 7,888,883 topics. Date: Saturday, 13 July 2024 at 05:33 PM |
Nairaland Forum / Nairaland / General / Politics / 990b; FAAC To Share Highest Monthly Allocation In Nigerian History (1316 Views)
FAAC To Share N1.959 Trillion Revenue In July — Probably Highest Ever / Obasa’s Wife Receives N10m Illegal Monthly Allocation From Lagos Assembly - SR / Imo Bail Out Funds: "N1 Billion Deducted From Imo Monthly Allocation" (2) (3) (4)
990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 5:54pm On Jan 18, 2023 |
The Federation Account Allocation Committee (FAAC), at its meeting yesterday, approved the sharing of N990.189 billion to the three tiers of government, as revenue from the month of December 2022. https:///3iGD4s9 https://www.facebook.com/194110890622942/posts/pfbid02tNZ7uiStbCyBacxe1vRGLXQ2UJQZbnY5ErToamnjeKVYpCg5AcPoiWudZCX3hV9sl/?app=fbl
|
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 5:54pm On Jan 18, 2023 |
When Buhari took over, there was global recession. The 3 tiers of government shared as low as 400 billions naira. Reason why states were unable to pay workers salary. Nigerians never ask questions and easily forget things. Last year there were some months that NNPC did not remit Kobo into federation account. Nobody cares to ask where federal government is getting monthly allocation from 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 6:02pm On Jan 18, 2023 |
B |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by stevnwigw1: 6:05pm On Jan 18, 2023 |
Noted, hope Abia state, can now pay salaries? |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 6:25pm On Jan 18, 2023 |
Biodun556:The value of 400 billion in 2014 is almost the same with the value of 900 billion in 2023 9 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Blue3k(m): 6:28pm On Jan 18, 2023 |
jimyjames: Lol, good catch always adjusts for inflation. Nominal numbers can easily fool people. 2 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 6:39pm On Jan 18, 2023 |
jimyjames: It is never the same Since 1999, the average monthly FAAC shared by fed, state and lg is between 600 to 700 billion The 400 billion was as a result of global recession and that was why many states could not pay salaries Buhari must be commended for saving Nigeria from collapsing |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 6:43pm On Jan 18, 2023 |
Biodun556:You don't get the point Naira had value back then , check the value of naira today The worth of 400 billion in 2014 is almost the same with the worth of 900 billion today How much was 1 dollar to naira then and how much is dollar to naira today? 4 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Sammy07: 6:44pm On Jan 18, 2023 |
Delta, Bayelsa over to you |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 6:46pm On Jan 18, 2023 |
jimyjames: It is not about naira value. Many government activities were down in that period compare to now The bulk of the 990 billion comes from custom, loan and improved non oil sectors |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 6:49pm On Jan 18, 2023 |
Biodun556:What are you talking about? It's no longer about the money allocated to states again? 3 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by vowiski(m): 6:50pm On Jan 18, 2023 |
Biodun556: This one is a confirmed Olodo 5 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Sammy07: 6:50pm On Jan 18, 2023 |
jimyjames: Though, I'm not interested in this conversation but nevertheless. I agree with you. But the truth is, as long as standard of living, population, GDP, technology of a country increases, same way the currency exchange, prices of commodities increases. I'm sure you wouldn't wanna compare Nigeria of 1999 to 1943 And Nigeria of 2022 to 1999 As regards to price of commodities, exchange, population and Standard of living, technology. By 2050, you'll understand what I'm trying to say 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 6:55pm On Jan 18, 2023 |
Sammy07: Many people don't know the role custom duty is playing in Nigeria treasury Please compare the performance of custom under Buhari to other government before him Custom generate trillions of naira. The single treasury account also help Buhari government from collapsing |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by sweetonugbu: 6:55pm On Jan 18, 2023 |
Share and swallow. |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by sweetonugbu: 6:58pm On Jan 18, 2023 |
Biodun556:borrow pose. 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Sammy07: 7:04pm On Jan 18, 2023 |
Biodun556: Yeah, they play a huge role. But are not doing enough. Truth is, Nigerians like solving problems from the top instead from the bottom or root. Every policies or most policies, that Nigeria government has been implementing since 1999. They are very beautiful and good. In fact they are very okay. But the problem is implementation, that's why fiscal policies (closing of borders) & monetary policy (cashless policies) effects are not showing |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 7:06pm On Jan 18, 2023 |
Blue3k: If inflation is relegating government revenue. It is normal for government to look inward. That was why they increased VAT and custom duties and this is the result |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 7:10pm On Jan 18, 2023 |
jimyjames: Because of global recession, endsars crises was why federal executive council approved increments of Value Added Tax (VAT), custom duty etc And this is the result Decrease of Value of naira can only decrease government revenue, it can never lead to this huge cash |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Blue3k(m): 7:14pm On Jan 18, 2023 |
Biodun556: Yes government has to tax more to stay afloat due to their monetary policy. They should take credit for their fiscal and monetary policies. Assuming the Inflation rate is 10% you have to earn 10% more just to maintain current standard. 1 Like 1 Share |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 7:45pm On Jan 18, 2023 |
![]() |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 10:17pm On Jan 18, 2023 |
Biodun556:Which huge cash , if 900 billion is almost equal to 400 billion in 2014 , then how is that huge? 2 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 10:31pm On Jan 18, 2023 |
Sammy07: Nigeria is ranked below standard in almost all aspects of a 21th century standard Nigeria in the 40s 50s was not ranked this poorly according to the world standard at that time 2 Likes |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 12:50am On Jan 19, 2023 |
![]() |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by grandstar(m): 11:08pm On Jan 21, 2023 |
jimyjames: You're wrong. In 2014 January, the exchange rate was circa $1-N160 at the parallel market or black market. It is now N730. I use the black market rate as that is what goods and services in the market place are priced at and not the audio official rate. N400bn was the equivalent of $2.5bn then while N900bn today is around $1.36bn. That is about almost half the value in real terms. Nigerians have jammed 'one chance' since 2015 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 11:38pm On Jan 21, 2023 |
grandstar:Yeah, I didn't do the calculation I only guessed, that's why I said , (almost the same) |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Urchinpainer: 5:51am On Jan 22, 2023 |
jimyjames:They can only fool idiots! Actually 900Billion today is less than 400 billion under Jonathan. 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by BigIyanga: 6:22am On Jan 22, 2023 |
How much of that is coming from China |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Agbegbaorogboye: 6:43am On Jan 22, 2023 |
Biodun556:What a load of crap. A good number of APC zombies are actually very low on intelligence. Minimum wage in 2015 was 18k while a bag of rice was 12k. Minimum wage in 2023 has increased to 30k while a bag of rice is 35k. Should we clap for buhari based on the above illustration? You should learn to understand issues perfectly. 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by jimyjames(m): 10:31am On Jan 22, 2023 |
Urchinpainer:Yeah , I realized it after calculating 1 Like |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Okpeke22: 11:09am On Jan 22, 2023 |
Biodun556:Yeah Buhari needs to be commended for the surge but the records must be set straight. Only in May 2015 was the allocation down to a little of #400b. The months before, the allocation hovered around #500/600b. Again, the reason why some states where not able to pay salaries isn't necessarily because of low revenue alone but greed and the 2015 elections. |
Re: 990b; FAAC To Share Highest Monthly Allocation In Nigerian History by Biodun556(m): 11:40am On Jan 22, 2023 |
Okpeke22: Good |
(1) (Reply)
Peter Obi Writing Down Suggestions That Were Made To Him In Gombe / Tinubu Gave Me N2 Million When My Wife Was Kidnapped / Akpabio May Step Down For Kalu,izunaso
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 41 |