FAAC allocation shrinks to N2.33trn as statutory revenue slump by 34.62%

Nigeria’s Federation Account Allocation Committee (FAAC) shared N2.33 trillion during the period covered, reflecting a decline linked to a 34.62% fall in statutory revenue. The reduction indicates weaker statutory inflows available for distribution among the federal, state and local governments, although the headline does not specify the period or the factors behind the revenue slump.