₦airaland Forum

ozo13:
I like evidence based stuff .
In 2010 December FAAC share 1.7trillion naira. Exchange rate then was 200 naira per dollar
Infact in Sept 2010 they share 500 billion naira.thats like 2.5billion dollar base in exchange rate then

Why are you guys obsessed with the dollars?. The fake exchange rate where billions was used to subside naira monthly in the past.

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

This right here is the reason why no matter who presides over the affairs of this country there will never be any difference.

We have a national budget of 58trh with over 200m people.

That's about 250k per head for health, education, security agriculture etc plus the one politicians will steal.
We need to ramp, reeve up our igr to be able to live a better life.

Newyork's budget is bigger than Nigeria and u want to live like someone in newyork

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

Do more research, let's know whether allocations under Jonathan and Buhari were up to 1 billion dollars

Unfortunately Nigerians will turn a blind eye and refuse to see the kind of money the federal government is a disbursing.
You will never see the likes of Obi and Atikus speak about issues like this.

OBI will never ask what the governors are doing with this monies.

What of the money generated through subsidy removal?
Abi that one no dey?

Most state government will not use this money to improve the overall quality of the state

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

The structure justifies otherwise of the bold. We dont produce so the population is of no use here. We simply plunder natural resources.

7demons:
What of the money generated through subsidy removal?
Abi that one no dey?

Money is not being generated through subsidy, Govt simply stopped paying subsidy and the money goes directly into the federation account where it is being shared.

FAAC jamboree!

Removed subsidy and increased allocation to state governors which they use for flyovers and payment to their god fathers with little impact on the citizens.

seanfer:
Can you please share with us all the last time the FAAC shared up to $1 billion as allocation...
This report says the highest in the history of the country and you're here ranting as usual. $1.48 billion as allocation is not that bad except you have decided that you will never see anything good in the current government..

Of what good has this been so far? Kindly educate us on what they have done with all the money being shared.
They share "trillions" while the masses continue to sink...

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

Hence tax man squeezing ever ounce of blood to generate revenue.

It is all about sharing the money. How can you remove subsidies, deregulate the market , made life unbearable for millions only to be sharing the revenues to politicians who only come to the office to steal and enjoy themselves. Little or no idea on investment and multiplying state wealth. Tinubu should have thought better how to use the subsidy money

Putindbutt:
Why are you guys obsessed with the dollars?. The fake exchange rate where billions was used to subside naira monthly in the past.

baba it's base on the value of the FAAC shared. We are import driven economy so dollar is important in all we do.

Biodun556:
Do more research, let's know whether allocations under Jonathan and Buhari were up to 1 billion dollars

Educate yourself boy that's over 3 billion dollars

zero8zero:
Lol, see Imo state, No1 on the list. Chestbeaters 🤣

You think VAT is the only way to generate revenue

zero8zero:
Nawa for you wailers o, the Governors are not complaining, na you dey complain. Tell us one Governor that has come out to wail as una dey do, rather they appreciate the fact that they're getting more.
When this country had recession back to back, did it not affect the entire economy?, were all the states not cash strapped?, did we even have increase in FAAC to ease off?.
During GEJ, more than 20 states couldn't pay salaries, some were paying half salaries, almost all the state couldn't pay pensions and this was the period inflation rate was still ok. Yet the FG couldn't rescue the states, even Okonjo confessed the FG was also borrowing to pay workers salaries..

Now, that more funds is getting to the grassroots, you're complaining even when those collecting it did not ask you to complain for them. Inflation has been on steady decline, the Governors can now do more, Akwa-Ibom, Ebonyi, Edo etc have raised minimum wage up to 80k -100k, yet na wailers dey complain. Governors have invited the President to commission projects yet na wailers dey wail.
Since your excuse is inflation, would you blame your state Governor after collecting the big cash to sit on it and do nothing since the money doesn't have value, make them kuku keep looting it or spend it on their mistresses, you will like that, right?. I pray make God dash una common sense.

Good point raised, but with corresponding increase in cost of living 80k seams like a far cry

zero8zero:
That one that used 54billion to renovate secondary schools with no evidence. The money don enter pocket. Yet some bitter Obidient are saying the money no get value.

Bad belle people, at least Abians are not complaining like Portable and all Ogun people are shouting on the head of Dapo Abiodun to kick start him to duty .


You carry thief make am governor and you expect him to perform miracles.


🤣🤣🤣🤣

Putindbutt:
Money is not being generated through subsidy, Govt simply stopped paying subsidy and the money goes directly into the federation account where it is being shared.

Yes that's what I'm saying. It wasn't shown in the breakdown. Cos it's part of IGR.

ozo13:
baba it's base on the value of the FAAC shared. We are import driven economy so dollar is important in all we do.

Who taught you this nonsense?. This is FAAC, not Import. We generate money, we convert to naira and spend in naira in the country. The dollar right now is even losing more value, Chinese traders now collect naira directly. The overdependence on dollars is waning.

zero8zero:
This epistle is nonsense, doesn't make sense. If you're so bothered on dollars, go to the market and convert the price of garri to dollars and pay for it in dollar equivalent, since you wailers have absolutely no idea about macroeconomics.
Today, we now have the true value of naira, rather than the artificial and subsidized value where there were four to five exchange rate windows. A situation whereby a few privileged could get dollars at 450 and sell it in the black market for 700.. trash!. Take several seat back abeg.

It’s obvious you lack the mental capacity to comprehend basic economics especially as a student of the “na statistics we go chop” school of thought, which feeds Nigerians fake numbers and rebased inflation and GDP figures.

As for the bolded, Insults aren’t a substitute for economic literacy. If you actually understood inflation and purchasing power, you'd know that nominal figures like bigger FAAC allocations are meaningless without context. Real value matters

Pakute:
https://guardian.ng/news/faac-distributes-n2-225-trillion-revenue-for-august-2025/

Politicians dey enjoy ohhh

7demons:
Yes that's what I'm saying. It wasn't shown in the breakdown. Cos it's part of IGR.

Nope, what's generated from oil sales goes directly to FAAC now. In the past, NNPC would first deduct subsidy from it before remitting the rest in the federation account.

Ofunaofu:
It’s obvious you lack the mental capacity to comprehend basic economics especially as a student of the “na statistics we go chop” school of thought, which feeds Nigerians fake numbers and rebased inflation and GDP figures.

As for the bolded, Insults aren’t a substitute for economic literacy. If you actually understood inflation and purchasing power, you'd know that nominal figures like bigger FAAC allocations are meaningless without context. Real value matters

Go and sit down joor. GEJ & Okonjo Iweala rebased the economy yet they were still borrowing to pay salaries till they left office.. Fake rebasing.

Depreciation of the naira ,naira losing value, high inflation , high costs of living, high costs of foodstuffs good and services will make this allocation not to have much impact and value to the economy and Nigerians

Smartcitizen:
Bad belle people, at least Abians are not complaining like Portable and all Ogun people are shouting on the head of Dapo Abiodun to kick start him to duty .


You carry thief make am governor and you expect him to perform miracles.


🤣🤣🤣🤣

We can see how the saints and angels you voted for in SE are turning the region to Dubai. That's why una dey jump at the back of night buses enter SW everyday

seanfer:
Can you please share with us all the last time the FAAC shared up to $1 billion as allocation...
This report says the highest in the history of the country and you're here ranting as usual. $1.48 billion as allocation is not that bad except you have decided that you will never see anything good in the current government..

This is like a bread seller celebrating that this is the first time he got 2000 from selling a loaf of bread because years ago he used to get only 800.

In the real sense, he sold a loaf for 2000 because naira has lost its value not because a loaf of bread has changed value.

By Naira dropping in value, the real income might even be less compared to the past, compare this to the past nothing has changed in dollar terms since the govt gets the bulk of the revenue in dollars

It’s obvious that to some the glass is half full while to others it is half empty. It is your choice and your mindset that determines whether you wail or rejoice at any news


quote author=Ofunaofu post=136859453]Compare the naira value of the so-called largest-ever FAAC allocation today to what it was before Tinubu 'grabbed it, snatched it, and ran away with it,' and you will realize the enormous and monumental damage Tinubu has done to the economy of this nation.[/quote]

seanfer:
Can you please share with us all the last time the FAAC shared up to $1 billion as allocation...
This report says the highest in the history of the country and you're here ranting as usual. $1.48 billion as allocation is not that bad except you have decided that you will never see anything good in the current government..

Check 2014 monthly allocations, averaged equivalent to $4 billion monthly.

Almost all the states got more than what they generated. But by way you see that those money's are generated majorly from tax and vat etc. This government is largely aware of the inflations and hardship going on, now it depends on them if they will do something about the increases.

commoditiesnig:
Good.

Its hightime we hold our immediate govt accountable. LG chairmen, Governors. Not only the FG

Sadly many online don't even followup on their state Governors or even know their state LG.. Just come online to rant about Tinubu.

Look as states like Akwa ibom, Cross river, Lagos, just few states that have been doing using their allocations judiciously.

The FG has the highest percentage of 53% from the federation account.

How are you holding them accountable

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

Thats equivalent to N202 billion in 2015!

Worthless N2.2 trillion

Pakute:
https://guardian.ng/news/faac-distributes-n2-225-trillion-revenue-for-august-2025/