FAAC Allocations Cross ₦2 Trillion as States Get More Money, But the Bigger Question Is What They Do With It
Nigeria’s monthly federal allocations have entered territory that would have seemed almost impossible a few years ago. Federation Account Allocation Committee, FAAC, distributions are now averaging more than ₦2 trillion per month, with the highest monthly distribution reaching about ₦2.8 trillion. The increase has been driven largely by changes in fuel subsidy policy, foreign exchange…