FAAC Reconciliations Inject N2.36tn into Federation Account in 9 Months

The Federation Account Allocation Committee (FAAC) reconciled and paid N2.36 trillion in outstanding revenue arrears to the federal and subnational governments from January to September. The inflow, sourced from crude sales, royalties, and domestic gas payments, helped ease fiscal pressures.

The reconciliation process involved various agencies like NNPC and NUPRC. The Nigerian Governor Forum responded to allegations of irregularities in revenue remittances by NNPC, emphasizing the need for forensic reviews.