For many Nigerians, local governments exist only on paper. Their names appear on signboards, election posters and official documents, but their presence is rarely felt in daily life.
The Federation Account Allocation Committee (FAAC) has distributed a total of N2.036 trillion among the Federal Government, state governments and local government councils as revenue allocation for March 2026.
Oil Royalties Increase by 88% Amid Govt's Revenue Boost
Oil and gas royalty collections by the Nigeria Revenue Service surged by N220.09bn in February 2026, a sharp increase of 87.6 per cent compared to January, following the implementation of Executive Order 9 mandating the centralisation...
A total of N1.894 trillion, representing the February 2026 Federation Account revenue, has been shared among the Federal Government, state governments and local government councils
The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).
State Seek Transparency in $8.8bn Crude-for-loan Agreements
State governments have called for a forensic audit of Nigeria’s crude oil-backed borrowing arrangements, warning that opaque crude-for-loan and swap deals may be undermining inflows into the Federation Account.
Economic Confidential earlier reported that the Nigerian National Petroleum Company...
