Presidency urges govs to spend increased FAAC allowance responsibly
FAAC
Abdullateef Fowewe
President Bola Tinubu’s Special Adviser on Policy Communication, Daniel Bwala has urged State Governors to prioritise responsible spending of the newly increased Federal Account Allocation Committee disbursements, ensuring that the funds directly benefit citizens.
Bwala said this via a post shared on his social media handle.
Bwala revealed that the total revenue distributed in the latest FAAC allocation had reached an all-time high of N3.143 trillion, marking a historic record.
He said, “A gross total revenue of N3.143 Trillion is the highest ever recorded since FAAC allocations began. Kudos to President #officialabat for blocking loopholes and freeing up funds for rapid development. States and Local governments are now receiving unprecedented allocations, and it’s time for Nigerians to enjoy the dividends of these reforms.
“I enjoin our State Governors to make judicious use of these increments in allocations in service of our people.
“The time to harvest the different gains of the Renewed Hope is nigh; continue keeping faith with the Prophet of the Renewed Hope Prophecy.”
Dailyeconomy had earlier reported that FAAC shared N1.727 trillion among the Federal Government, States, and Local Government councils in November.
