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FAAC manages only a slight rise in February as Nigeria’s states bleed

The gross monthly distribution by the Federation Account Allocation Committee (FAAC) to the three government tiers and eligible agencies totalled NGN640bn (USD1.56bn) in February, 2021. This was NGN21bn above the previous month’s payout according to a report by FBNQuest. This latest payout to states falls far short of their spending, which averaged NGN351bn per month…

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