Economy

FG Proposes Drastic Overhaul Of FAAC Sharing Formula The federal government is proposing a major shift in the distribution of funds from the Federation Account Allocation Committee (FAAC). This was revealed by Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, in a statement on his X (formerly Twitter) handle. Oyedele disclosed that the federal government is set to take only 10 percent of the total FAAC allocations, while states and local governments will receive a combined 90 percent. This represents a drastic departure from the current sharing formula, which allocates 52.68 percent to the federal…

FG To Reverse Growing Unemployment Rate – Shettima Assures The Federal Government is working to reverse Nigeria’s growing unemployment rate, Vice-President Kashim Shettima said on Saturday. Shettima said this at the launch of the Nasarawa state human capital development strategy document and gender transformative human capital development policy framework in Lafia. He stated that the current administration is committed to empowering Nigerians with globally competitive skills which would enable them excel anywhere in the world. STATE HOUSE PRESS RELEASE AT NASARAWA HCD STRATEGY DOCUMENT LAUNCH: Under Tinubu, We’ll Reverse Growing Unemployment Rate, VP Shettima Vows *** Says Nigerians must begin…