Former Vice-President Atiku Abubakar has described the Federal Account Allocation Committee (FAAC) disbursements to the three tiers of government as an "illusion", stating that rising nominal allocations have not improved Nigerians' living standards. In a statement issued on Wednesday by his media aide, Phrank Shaibu, Atiku said the increase in FAAC allocations must be viewed against the depreciation of the naira, high inflation, declining purchasing power and rising government debt. He cited figures from Agora Policy showing that FAAC disbursements increased from N4.43 trillion in the first half of 2021 to N18.72 trillion in the corresponding period of 2026, representing an increase of about 322 per cent. The figures also showed that FAAC disbursements rose from N5.53 trillion in the first half of 2022 to N6.76 trillion in H1 2023, N13.46 trillion in H1 2024, and N17.43 trillion in H1 2025.
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