The Federal Government, state governments and local government councils received a combined N17.12tn from the Federation Account between January and August 2026, with the Federal Government accounting for the largest share of N6.53tn.
President Bola Tinubu has approved the involvement of the Economic and Financial Crimes Commission (EFCC) in tracking Federation Account allocations to Nigeria’s 36 states and 774 local government areas, in a move aimed at strengthening oversight of public spending and ensuring that funds are used for their intended purposes.
State governments are deploying increased allocations from the Federation Account to roads, healthcare, education, workers’ welfare and other public services, but development partners and fiscal authorities have warned that higher revenues must translate into measurable improvements in living standards.
Nigeria’s 36 states received about ₦7.41 trillion in gross Federation Account Allocation Committee allocations between January and August 2026, according to data compiled from FAAC reports by BudgIT and Agora Policy.
The Federation Account Allocation Committee (FAAC) has shared ₦2.428 trillion in September 2026 revenue among the Federal Government, state governments and local government councils, an increase from the ₦2.338 trillion distributed in the preceding month.
According to a statement issued on Thursday by the Office of the Accountant-General of the Federation, the allocation was announced after the September meeting of FAAC held in Abuja.
Finance experts contend that the real value of the revenue has diminished because of the prevailing exchange rate, which makes logistics and operational costs very prohibitive.
Lagos State emerged as Nigeria’s biggest recipient of FAAC allocations in the first half of 2026, receiving N365.78bn and overtaking oil-producing states including Delta and Rivers in the ranking.
Lagos’ allocation jumped 54.39 percent year-on-year from N236.92bn, with...
Delta, Bayelsa and Akwa Ibom shared N242.63 billion in the first quarter, accounting for about 75.4 percent of the N321.90 billion derivation funds distributed to Nigeria’s 11 oil-producing states.
Delta emerged as the biggest beneficiary with N101.60 billion,...
FAAC shared ₦2.55 trillion among the Federal Government, states and local governments after gross federation revenue surged 32.6 percent to ₦4.5 trillion in June.
Stronger collections from Companies Income Tax, VAT, petroleum royalties, and import duties boosted the...
The President, Bola Ahmed Tinubu has flagged off the construction of the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a strategic investment that will reduce pressure on Lagos ports and reposition Nigeria’s maritime industry.
