Real Decline in Nigeria's FAAC Revenue
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Real Decline in Nigeria's FAAC Revenue
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About this listen
The Real Decline of Nigerian FAAC AllocationsThis edition of the podcast discusses the distribution of the Federation Account Allocation Committee (FAAC) revenue following the fuel subsidy removal, arguing that while nominal Naira allocations have surged, this growth is an illusion primarily driven by exchange rate devaluation and inflation, resulting in a significant decline in real (inflation-adjusted) terms and US dollar value.The constitutional basis and structure of the Federation Account, detailing the roles of bodies like FAAC and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the revenue sharing formula among the three tiers of government, and the challenges inherent to Nigeria's system of fiscal federalism.
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