FG Sets Up N500bn Emergency Security Fund to Combat Banditry   About N500bn was deducted from the Federation Account Allocation Committee (FAAC) revenue for May 2026 to fund a national security emergency intervention, multiple sources familiar with the development said. The deduction was made before the monthly...

The Federation Account Allocation Committee (FAAC) shared ₦2.3 trillion among the Federal Government, states, and local governments

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.