FAAC may share N700bn in August -FDC
The Federation Account Allocation Committee (FAAC) may be in position to share about N700 billion for August and this will be the highest shared in the last 30 months. Analysts at Financial Derivatives Company (FDC) Limited gave the projection.
The Chief Executive Officer of FDC, Mr. Bismarck Rewane has said and he attributed the rise to partially improved tax collection and exchange rate gains. He added that increased exchange rate gains reached highest level in 18 months.
It would be recalled that allocation began to show remarkable increase in July as N559 billion was shared, representing an increase of 83.2 per cent over the previous month. FAAC allocation in June was N305.12 billion. The increased spending also helped activate shipping activities during the month. He explained.
Rewane explained further that because there were more ships in Lagos as a result of increased spending. He said ships awaiting berth increased to 45 in July. He added that ships awaiting berth are expected to increase to 50 in August, “boosted by budget implementation and flexible exchange rate”.
“Higher international trade activity, forex availability and settlement of backlogs were also responsible, ‘he said.
Folarin Dalmeida liked this on Facebook.
FAAC may share N700bn in August -FDC https://t.co/UJkp8yJG0u
Athekame Kenneth liked this on Facebook.
Tunde Opajobi liked this on Facebook.
Adeleke James liked this on Facebook.
LIke your site. Do you want to trade links.
Do you mind if I quote a few of your posts as long as I provide credit and sources back to your website? My website is in the very same area of interest as yours and my users would really benefit from a lot of the information you provide here. Please let me know if this ok with you. Many thanks!
You’ve gotten superb information these
Daniele De http://www.myxiamen.cn/bbs/home.php?mod=space&uid=67347&do=profile&from=space
Great looking website. Assume you did a bunch of your very ownyour very own coding
Caniggia http://www.gdehome.com/?option=com_k2&view=itemlist&task=user&id=1147640
Your stuff is very exciting
Milan Baros http://literatura.mcvane.ge/user/BennieBenavides/
Neat blog! Is your theme custom made or did you download it from somewhere? A theme like yours with a few simple adjustements would really make my blog jump out. Please let me know where you got your theme. Thanks a lot