Latest from the Economic Confidential www.economicconfidential.com

Nigerians dont ask questions how their monthly revenues from the Federation Account are utilised to the benefit of their communities by Federal, States and Local Government Councils just as the Economic Confidential monthly provides detailed summary of the allocations. Another allocation for April 2009 will be made this week in Abuja. For the March 2009 double allocation, please click on the headline below to read the stories.

FACTS

Excess Crude Account: The Sharing of $1.5bn in March 2009

The table on the sharing of $1.5billion from the Foreign Excess Crude Savings Account to states and local governments at the March meeting of the Federation Account Allocation Committee (FAAC) is exclusively brought to you here by the Economic Confidential. While one of the states received $90million some others received $12 million each. Please click HERE.

Federation Account: The Sharing of N254bn in March 2009

The Economic Confidential magazine provides here the distribution of a total sum of N254 billion which was shared to all tiers of government at the March 2009 meeting of the monthly Federation Account Allocation Committee (FAAC) in Makurdi, Benue State which comprised statutory allocation and VAT distribution. From the total disbursement while Rivers State received N11bn being an oil producing state, some states like Gombe, Nasarawa, Ebonyi and Ekiti only received N2.2bn each. To see the table, click HERE

Nigeria Becomes World’s Worst Market on Bank Losses

By Janice Kew and Michael Patterson

April 1 (Bloomberg) -- Nigeria’s stock market, Africa’s best performer during the past decade, posted the biggest declines worldwide in the first quarter as bad loans to speculators pushed bank valuations to an all-time low… Read

2009 Budget Will be Closely Monitored – DG Budget

In this exclusive interview with the Economic Confidential after a workshop on Budget Implementation, Monitoring and Evaluation in Abuja, the Director General of Budget Office of the Federation, Dr. Bight Okogu who was a former Special Adviser to Minister of Finance, gives assurances on 2009 Budget…. Read