The Federation Account Allocation Committee (FAAC) has disbursed an unprecedented N2.001 trillion from July 2025 revenues to the three tiers of government—marking the highest monthly allocation this year. The disbursement, confirmed at the August 2025 FAAC meeting in Abuja, was sourced from statutory revenues, Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), and…
Nigerian states spent ₦235.58 billion on external debt servicing in the first half of 2025—a sharp 68.4% increase from the ₦139.92 billion paid during the same period in 2024, according to National Bureau of Statistics data from FAAC disbursements. The spike highlights the growing strain of dollar-denominated loan repayments, worsened by the continued depreciation of…
New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that oil marketers have largely abandoned local refineries in favour of importing refined petroleum products, with imports meeting 71.38% of Nigeria’s petrol demand in May and June 2025. Only 28.62% of the country’s petrol supply during the period came from the $20…
About N1.7 trillion in revenue by the Federal Account Allocation Committee (FAAC) has been shared by the federal, state and local governments in February 2025. A statement issued on Saturday by the Director of Press and Public Relations, Bawa Mokwa, revealed that a total of N1.678 trillion was distributed in March 2025 during the Federation…
The Pan Niger Delta Forum (PANDEF) has called for a review of the Supreme Court’s recent ruling that halted the disbursement of Federation Account Allocation Committee (FAAC) funds to Rivers State, expressing deep concern over its implications for the state’s development and the welfare of its people. PANDEF has called for a review of the…
A total sum of ₦ 1.703 trillion, being January 2025 Federation Account Revenue, has been shared with the Federal Government, states, and local government Councils. This is according to a statement on Thursday by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa. Mokwa said that the…
A total sum of ₦1.424 trillion, being December 2024 Federation Accounts Revenue, has been shared among the Federal Government, States and Local Government Councils. The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The Director of Press and Public Relations, Office of the Accountant General of the…
A dedicated unit is now in place in the Office of the Accountant General of the Federation (OAGF) to handle direct disbursement of funds to the 774 local governments across the country as the planned financial autonomy for the third tier of government takes effect this month. The first meeting of the Federation Account Allocation Committee (FAAC)…
Ten states in all obtained an increase in their monthly allotment from statutory federal monies of at least fifty percent. This occurred as the monthly allotment increased by at least 40% for 12 of the 36 states. The National Bureau of Statistics issued monthly reports from the Federation Accounts Allocation Committee, from which the data…
