32 states rely on FAAC for 55% of revenue – BudgIT
A new report by BudgIT reveals that 32 of Nigeria’s 36 states relied on allocations from the Federation Account Allocation Committee for at least 55% of their total revenue in 2023. This over-dependence on federal transfers exposes states to vulnerabilities, particularly related to fluctuations in oil revenue. The 2024 State of States report, launched in […]