Nigeria's Revenue Rises 14.2% Amid Deepening Poverty
• This Day • Business
In the first two months of 2026, Nigeria's revenue from the Federal Account Allocation Committee (FAAC) increased by 14.2% compared to the same period in 2025, totaling ₦3.863 trillion, up from ₦3.381 trillion. The federal government received ₦653.5 billion, states received ₦706.4 billion, and local government councils received ₦513.2 billion. This growth in revenue comes amid persistent economic hardship, with the World Bank estimating that approximately 15 million Nigerians could fall into poverty between 2023 and 2024 due to inflationary pressures and recent macroeconomic reforms, including the removal of fuel subsidies. The National Bureau of Statistics (NBS) has ceased publishing its multidimensional poverty index, but estimates indicate that about 133 million Nigerians, or roughly 63% of the population, live in multidimensional poverty, facing deprivations in education, healthcare, and basic infrastructure. Despite the increase in government revenue, the economic conditions for many households continue to deteriorate, underscoring structural imbalances within Nigeria's economy.
Topics: Economy, Social Issues