THE RISE AND RISE OF FAAC REVENUE BY TEMITOPE AJAYI

THE RISE AND RISE OF FAAC REVENUE

FAAC revenue for the month of November for the 3 tiers of government crossed the N1trillion mark. From the available N1.6trillion the States and Federal government agreed to share sum Of N1,088.783 Trillion Naira as follows while the remaining cash is saved to control inflation.

Breakdown Of Allocation :

●Federal Government -N402.867bn
●State Governments -N351.697bn
●Local Governments -N258.810bn
●Oil Producing State -N75.410

For context, the revenue available to the 3 tiers of government has been on increase since June when President Bola Tinubu removed fuel subsidy. This is money that would have been frittered away and made few people billionaires at the expense of the masses. What this means is that our states and local governments have more money to spend on social services and improve the living condition of Nigerians.

It is equally important to say that the Federal Government also granted each of the 36 states the sum of N7billion as infrastructure support fund as part of promises made by President Tinubu to help states. While Nigerians reserve the right to continually demand accountability and good governance from the President, it is important that we begin to focus on the other two layers of government and interrogate the quality of governance that is taking place.

My point has always been that over 90% of service delivery that impacts the lives of citizens are municipal services and they are what states and local governments are meant to do.