Nigeria’s Accounts Allocation Declines by 30%

Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn in May 2022, representing a 30 per cent reduction over the period. <br />The decrease in allocation to these levels of government reveals the fiscal challenges facing various levels of government in Africa’s biggest economy. <br />The Federal Government has raised its budgetary allocation of N443 billion for gasoline subsidy to N4 trillion and has received approval from the National Assembly.