Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn in May 2022, representing a 30 per cent reduction over the period.
The decrease in allocation to these levels of government reveals the fiscal challenges facing various levels of government in Africa’s biggest economy.
Nigeria earns its biggest revenue from crude oil, but it has paid N2.1tn in the first six months of the year and could pay another N4tn by the end of the year, according to the International Monetary Fund estimates.
A Federal High Court has revoked the bail earlier granted to former Attorney-General of the…
Forensic specialists have recovered 105 bodies from mass graves in Yelwata, marking a significant development…
The Supreme Council for Sharia in Nigeria (SCSN) has firmly dismissed reported calls by some…
Ahmadu Umaru Fintiri, the Governor of Adamawa State, has officially left the Peoples Democratic Party…
Tragedy struck in Ogun State after a worker attached to the state’s planning authority was…
President Bola Tinubu hosted a select group of senators for an Iftar dinner at the…