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OIL PRICE SLUMPS, SHRINKS FAAC DISBURSEMENTS TO $1.9TR

13 May 2019 National


THE SLUMP IN THE INTERNATIONAL CRUDE OIL PRICE TOOK ITS TOLL ON THE FEDERAL ACCOUNT ALLOCATION COMMITTEE (FAAC), AS ITS DISBURSEMENTS BETWEEN JANUARY AND MARCH 2019 DROPPED TO $1.929 TRILLION AS AGAINST N1.938 TRILLION DISBURSED FOR THE SAME PERIOD IN 2018; REPRESENTING 0.45% REDUCTION.


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