Lower Revenue For Govts As FAAC Allocation Falls By 22% To N2.338trn

The federal government, the 36 states and the 774 local government councils shared N2.338 trillion from the Federation Account Allocation Committee for August 2026, representing a 22 per cent decline over the N3.0 trillion distributed for July. The allocation was approved at the September meeting of the FAAC held in Abuja on Thursday. According to the FAAC communiqué, gross statutory revenue fell to N2.850 trillion in August from N4.359 trillion recorded in July, representing a decline of N1.508 trillion.

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