FAAC

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...

June 26 (THEWILL) — Lagos retained its position as Nigeria’s largest recipient of Federation Account Allocation Committee (FAAC) disbursements in the first quarter of 2026, as the 10 highest-earning states accounted for 40.1 percent of total allocations shared during...

June 18, (THEWILL) — The Federation Allocation Account Committee (FAAC), has shared a total sum of N2.3 trillion to the Federal Government, States, and Local Government Councils as May 2026 Federation Account Revenue. A statement signed by the Director, Press and...

May 17, (THEWILL) — Progressives Congress are allegedly making monthly contributions from their FAAC allocations into a campaign fund reportedly meant to support the re-election bid of President Bola Ahmed Tinubu. The organisation argued that such allegations raise broader issues...

April 22, (THEWILL) — The Federation Allocation Account Committee (FAAC), has shared a total sum of N2.036 trillion to the federal government, states, and local government councils as March 2026 Federation Account Revenue. A communique signed by the spokesperson of...

April 02, (THEWILL) — Nigerian states are ramping up borrowing despite a sharp increase in allocations from the Federation Account Allocation Committee (FAAC), raising fresh concerns about fiscal sustainability and weak growth in internally generated revenue (IGR). Recent data...

March 27, (THEWILL) — Nigeria’s revenue distribution in January 2026 highlights a continued concentration of FAAC allocations among a handful of states, with total net disbursement to states reaching ₦703.26 billion. Data reported by Nairametrics shows that the...