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The three tiers of government in Nigeria shared N620.65 billion ($3.9 billion) in May
x | June 22, 2013
At the recently concluded Federation Account Allocation Committee (FAAC) meeting, N620.65 billion ($3.9billion) was shared amongst the three tiers of... (3) Comment



"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
Admin    ., .    June 23, 2013
Admin Note: Bugsy, you assume that all the allocation that was shared only came from proceeds from oll, what about the proceeds from Value Added Tax (VAT), SURE-P, NNPC refunds, etc?
OMOTAYO, J. A.    Lagos, NIGERIA    June 23, 2013
Mathematics or no Mathematics, let us visit history for a better understanding. In 1998, the total annual national budget was about N230 billion. That amount included provisions for NITEL, PTF, Debt Repayment, etc. In 1999, the national budget including cost of political transition, completion of NASS quarters and remunerations, etc was N300.4 billion.

What joy is there now that about twice the national budget is shared monthly when the federal government has become less responsible? No NITEL, PTF, Debt repayment but more borrowing, etc. The truth is that tomorrow's food is being shared today in pursuit of fantasies. No savings for tomorrow. The future of the young and yet to be born is being compromised by a greedy political elite irrespective of political parties.!

God save Nigeria.
Bugsy Demola    Abuja, Nigeria    June 22, 2013
These numbers don't add up. I think the writer did us some disservice. If you shared 620+ and subtract 156 and still end up with 500+. Confusing math you would say.
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