Despite rising FAAC allocations, poverty spreads in states

The Federation Account Allocation Committee (FAAC) increased its allocation to states by 30.5 percent to N3.16 trillion in 2022, data show, even as poverty continued to spread across the country.

The bulk of the revenue shared at FAAC meetings by the federal, state, and local governments are earnings from oil exports, taxes, and other statutory allocations.

BUSINESS DAY: Read More