​Another low payout by FAAC
The total monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government in January (from December revenues) picked up marginally to N388bn (US$1.97bn) from N370bn the previous month. We return to the committee’s work so soon after our last commentary (on Tuesday) because it has announced its latest monthly distribution, albeit behind schedule. While the amount for disbursement this month has picked up by N18bn, it was still the second lowest over a 12-month period.
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