FAAC payment to states rise by 36%

Federation Allocation disbursement to the states rise 36 per cent this year to N8.52 trillion, higher than last year’s N6.25 trillion.

The report from Financial Derivatives Company Limited, a financial advisory and research firm, showed that FAAC allocation released early this month rose 3.13 per cent.

The report also said that despite higher government revenue, purchasing power of Nigerian consumers declined, leading to a slide in headline inflation in 2018.