The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted over N322bn and $116.9m into the Federation Account within two months, following the implementation of Executive Order 9 signed by President Bola Tinubu in February 2026.
Subnational external debt rose sharply in 2025, with 32 states and the Federal Capital Territory (FCT) accumulating nearly $5.7bn, despite higher inflows from the Federation Account Allocation Committee (FAAC).
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
