FAAC Allocates N3.79 Trillion to Six Nigerian States

The Federation Account Allocation Committee (FAAC) distributed N3.79 trillion among six Nigerian states over a 39-month period from 2023 to the first quarter of 2026. Lagos State received the highest allocation, totaling N1.44 trillion, while Oyo State followed with N635.62 billion and Ondo State received N550.08 billion.

Other states included Osun with N423.7 billion, Ekiti with N366.92 billion, and Ogun with N372.4 billion. Monthly allocations are critical for funding state responsibilities, including salaries, pensions, infrastructure, healthcare, and education.

The allocations reflect changes in federal revenue, driven by factors such as crude oil production and tax collections. Lagos's allocation increased sharply from N371.39 billion in 2023 to N514.6 billion in 2025, while Oyo's allocation rose from N207.37 billion in 2023 to N213.7 billion in 2025.

Ms. Olubunmi Akored emphasized the importance of FAAC allocations in financing state governments.