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Ondo gov unveils AI system for civil service management,

Policy and Regulations

States’ IGR hit ₦5.15trn in 2025, Lagos leads

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Tag: FAAC

Opinion

FAAC figures rise but naira value keeps falling, says Atiku

Former Vice-President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has described disbursements from the Federal Account Allocation Committee to the three tiers of government as an “illusion,” arguing that rising nominal allocations have failed to translate into better living standards for Nigerians. In a statement issued on Wednesday by his media aide, […]

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States receive ₦435bn from new FAAC infrastructure, security funds

State governments are receiving billions of naira through a relatively new Federation Account Allocation Committee intervention for infrastructure and security, with available half-year budget implementation reports showing that at least N435bn in revenue was recorded under the funding window by 29 states between January and June 2026. The intervention, classified in state financial records as […]

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Federal, states, LGs share ₦3.007trn July FAAC

The three tiers of government have shared N3.007 trillion as July 2026 revenue. The revenue was shared at the Federation Account Allocation Committee meeting held on Tuesday, on the sidelines of the ongoing National Council on Federation and Economic Development in Owerri, Imo State. This month’s shared revenue was higher than the N2.551 trillion shared […]

Economy featured

Tinubu’s reforms pushed FAAC to ₦2trn monthly, from ₦300bn — Oyedele

Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, says the Federal Government’s economic reforms have pushed the monthly Federal Allocation to over N2 trillion, up from an average of N300 billion under past administrations. Oyedele disclosed the fiscal shift on Monday in Owerri, while declaring open the 2026 National Council on […]

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FAAC shares ₦2.3trn revenue for May

The Federation Account Allocation Committee has shared a total of N2.3 trillion among the Federal Government, state governments and local government councils from revenues generated in May 2026. The latest allocation represents an increase of N43 billion compared to the N2.257 trillion distributed from April revenues, reflecting continued growth in federally collected income. Details of […]

FAAC funds to FG, states hit 7-year high in 2023
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FAAC shares ₦2.04tn March revenue across FG, states, LGs

The Federation Account Allocation Committee shared a total of N2.04tn as revenue for March 2026, reflecting a N150bn increase from the N1.89tn distributed in February, amid stronger statutory inflows. The disclosure was contained in a statement issued on Wednesday by the Office of the Accountant-General of the Federation and signed by its Director of Press […]

FAAC funds to FG, states hit 7-year high in 2023
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FG rejects claims of diversion from federation revenue

The Federal Government says deductions from the federation earnings by the Federation Account Allocation Committee are being misrepresented as a diversion of revenue. In a statement on Sunday signed by Taiwo Oyedele, minister of state for finance, the ministry said some media reports are misrepresenting the findings of the World Bank in the Nigeria Development […]

FAAC funds to FG, states hit 7-year high in 2023
Finance

Nigeria loses 41% revenue to deductions before FAAC sharing — W’Bank

Nigeria’s federation revenues rose to N84 trillion over the past three years, but 41 per cent of these earnings was lost to pre-distribution deductions, significantly shrinking what is eventually shared among the three tiers of government, findings by The PUNCH have revealed. Latest fiscal data obtained from the World Bank’s Nigeria Development Update, analysed by […]

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Professionals dismiss ₦210tn missing funds claim in NNPCL accounts

A coalition of professionals under the Ajiyya Solidarity Forum has dismissed allegations that about N210tn is missing from the accounts of the Nigerian National Petroleum Company Limited. Addressing journalists on Thursday, The PUNCH reported that ASF National Coordinator Usman Hamza described the claim as “mathematically impossible” and politically motivated. The group’s position responds to a […]

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