The federal government has proposed a major shift in the distribution of funds from the Federation Account Allocation Committee, FAAC.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, revealed this via his X handle on Sunday.
Oyedele said the federal government was set to take only 10 percent of the total FAAC allocations while states and local governments will receive a combined 90 percent.
He further explained that the change was part of broader reforms aimed at eliminating numerous nuisance taxes and streamlining the tax collection process.
He added that the proposed reforms represent a bold step towards decentralizing revenue collection and promoting a more balanced fiscal structure in Nigeria...
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