In a significant financial milestone, the Federation Account Allocation Committee (FAAC) disbursed a record N15.26 trillion in 2024, marking a 43% increase from the previous year. This substantial disbursement was allocated among Nigeria’s three tiers of government, according to the Nigeria Extractive Industries Transparency Initiative (NEITI).
The rising disbursements highlight the increasing revenue generation and distribution efficiency within Nigeria, with potential implications for national economic growth and investment in public services. The surge underscores the critical role of transparent and efficient financial management in the country’s development agenda.
Source: Read more