NewStats: 3,264,087 , 8,182,554 topics. Date: Monday, 09 June 2025 at 03:47 PM 3j3a6m

The three tiers of government are set to share N1.959 trillion in July 2023 — probably a record, TheCable can report.

This is nearly triple the N786.161 billion shared in June and more than triple the N655.93 billion in May.

Allocations are usually shared from the preceding month’s revenue — meaning June will be shared in July.

The Federation Allocation Committee (FAAC) will meet in Abuja on Wednesday to allocate the revenue to the tiers of government — federal, state and local — based on the sharing metrics.

Statutory collections make up N1.7 trillion of the federally collected revenues, followed by N293 billion from VAT and N12 billion from electronic money transfer charges.

TheCable is yet to establish if there had been any higher monthly revenue in the history of Nigeria.

A snap analysis by TheCableIndex data team suggests that the fall in the official exchange of the naira might have contributed to the seemingly unprecedented rise in revenue.

FAAC adopted N436.38/$ as exchange rate for the calculation of the forex component of federally-collected revenues for June 2023 but this has now gone up to at least N750/$.

TheCable could not confirm the actual exchange rate used for July.

FAAC is made up of the minister of finance as chairman, all state commissioners of finance, state ants-general, the ant-general of the federation and the permanent secretary of the federal ministry of finance.

https://www.thecable.ng/exclusive-faac-to-share-n1-959tr-revenue-in-july-probably-highest-ever/amp

Ok

Lol where the money wey dem share

That's close to 2 trillion

Print and share. Inflation loading.

Money that will be looted by Governors and local government chairmen

very good.
BAT should remove electronic bank transfer chargers to ease the effect of subside removal

inoki247:
Lol where the money wey dem share

they printed money now. Tinubuonomics!

Funny how they increased the exchange rate to collect more Naira from Nigerians to share.
What's the dollar equivalent?

What's paining me right now is this leaders that have privilege to the old system instead to change the old system and adopt the system that will work for us as a nation they seem not concerned just because the old system favors them.

RepoMan007:
they printed money now. Tinubuonomics!

Lol buh na the old Money still full ATM nd over the counter withdrawal so where dem pack the printed money put....

inoki247:


Lol buh na the old Money still full ATM nd over the counter withdrawal so where dem pack the printed money put....

electronic money was created and there was excess notes in CBN hands due to naira swap.

So na these thieves dey share all these bank charges and electronic transfer charges. They still use your money to do business, run you at a loss and then still steal from you in the name of charges. They are unrepentant rogues and thieves. Once they get to that place, they forget about party or fight, they form more alliance to reloot , restrategize to continue to enslave her citizens.
That money won't go anywhere to meaningful things. Only just few thieves will have access to it.
Concurrent inflation increments loading. I believe many things will be a little bit stable after summer holidays though towards December.

Rivers state government should be held able for not promoting workers for 12 years and non implementation of the 30k minimum wage. This is the height of wickedness and insensitivity. The state had decided to impoverish it's workers.

Ok

Tekzyflex:
Rivers state government should be held able for not promoting workers for 12 years and non implementation of the 30k minimum wage. This is the height of wickedness and insensitivity. They state had decided to impoverish it's workers.

State or local? Can you imagine? Oyel producing state oo.
No matter way you look at it, democratic government is equipped to impoverish her citizens especially in Africa. So pathetic. 12 good years. Now how will they adjust to the new inflation and minimum wages? I guess they will make mouth about it, bribe union leaders, and then look away later. And the cycle continues.

The conversation should shift to the states coz this allocation is unprecedented. They should be made to for it.

States can increase their minimum wages.

Damnnn niggar
Always sharing

Not in value

After 8 years of unimaginable suffering you people still queued under the sun to vote for APC ?? because of hatred, tribalism & religion

Your bigotry & hatred for Jonathan resulted in Buhari, You never learnt from your mistakes, You mocked ur neighbors because a candidate from your tribe has won but all of you are suffering the bad leadership. Buhari’s 1st 4yrs was a total disaster, you still voted him for second tenure?

Everyone was waiting for February 2023 to kick APC out, PDP had their best chance with Obi/Kwankwaso Candidacy, … but money politics brought in another Fulani man as presidential candidate, an insensitive decision by a pioneer party like PDP

Obi left and ed LP. and gathered a huge number of followers nationwide, suddenly the hatred & bigotry kicked in again and you fools went under the sun and voted for APC’s continuity..

On Election Day, lives were lost, a nursing mother was stabbed, innocent voters were attacked, property destroyed, ballot boxes stolen, NYSC staff aware intimidated ….Just so that this same party would remain in power..

I use to blame the government, but now I’ve realized that the problem of this country is the people. ………

Ok

In developed countries, states thrive economically and contribute to the center but the reverse is the case here.

All our people know is fight and kill to get to Abuja, loot then share the remaining to the states.

Once the money gets to the states, Governors sef go loot and share the remaining to their Local Governments.

Awon werey

terrible

Let the sharing begin..

Renewed shege indeed

Let the looting begin.

Tinubu is taxing the masses so that his fellows can have more money to steal.

Oya, share and chop

The poor are getting poorer, while the rich politicians are getting richer. Am just happy that the tribalistic Nigerians are seeing that Tinibu is a bunch of failure.

Ee

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