By JOANNA ILUSANMI THE Federal Government, 36 states and 774 local government areas shared ₦3.007 trillion in revenue for July, according to the Federation Account Allocation Committee (FAAC). The Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed the figure in a statement on Tuesday in […]
Federation Revenue Tops ₦10 Trillion THE Federation Account Allocation Committee (FAAC) distributed a total of ₦10.456 trillion to the Federal Government, the 36 state governments, the 774 local government councils and oil-producing states during its first five allocation meetings of 2026, reflecting sustained growth in federation revenue despite fluctuations in Value Added Tax (VAT) and […]
FAAC Allocates ₦2.3 Trillion to Federal, State and Local Governments THE Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.3 trillion among the Federal Government, state governments and the 774 local government councils as revenue allocation for May 2026. The allocation was approved during the June 2026 FAAC meeting held in Abuja, according […]
A Controversy at the Heart of Nigeria’s Revenue System NIGERIA’S political climate is becoming increasingly charged ahead of the 2027 general elections, with fresh allegations placing the Federation Account Allocation Committee (FAAC) at the centre of a widening political storm. The African Democratic Congress (ADC) has alleged that about ₦800 billion may have been deducted […]
A Troubling Revenue Reality NIGERIA’S public finance system is under renewed scrutiny following revelations that deductions from the Federation Account Allocation Committee (FAAC) consumed a staggering 41 per cent of the country’s ₦84 trillion revenue over the past three years. The figures paint a troubling picture: while revenue inflows appear to be rising, a significant […]
FAAC Records Challenge Governor’s Assertion OFFICIAL records from the Federation Accounts Allocation Committee (FAAC) indicate that Akwa Ibom State received ₦119.82 billion in statutory 13 per cent oil derivation funds between September and December 2025 — a figure that appears to contradict a recent claim by Governor Umo Eno. Speaking during a prayer meeting on […]
By ESTHER McWILLIS-IKHIDE Uncertainty Trails Presidential Revenue Directive FRESH uncertainty has gripped Nigeria’s oil and gas sector following President Bola Tinubu’s executive order mandating the immediate remittance of oil and gas revenues to the Federation Account for distribution among the three tiers of government. The directive, which reinforces Section 162 of the Constitution, halts the […]
A Historic Revenue Upswing AKWA Ibom State has witnessed an unprecedented fiscal upswing under Governor Umo Eno, recording over ₦2.53 trillion in revenue within 32 months of his administration. Official data drawn from audited accounts, budget performance reports, and FAAC allocations confirm that the state’s earnings between May 2023 and December 2025 exceed the total […]
Governors Demand Evidence of Presidential Write-Off THE Federation Account Allocation Committee (FAAC) has been thrown into fresh scrutiny after Nigerian governors demanded evidence of President Bola Tinubu’s recent approval to write off $1.42 billion and ₦5.5 trillion in legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd.) to the Federation. The request […]
By OBIOMA TORI GOVERNMENT REASSURANCE AND FAAC CLARIFICATION THE Federal Government has confirmed that civil servants have received their January 2026 salaries following the disbursement of ₦1.969 trillion from the Federation Account Allocation Committee (FAAC). The Minister of State for Finance, Dr. Doris Uzoka-Anite, clarified the situation on Sunday, dismissing claims that the January FAAC […]