FAAC Shares Record ₦3 Trillion Among Federal, State and Local Governments for July

The Office of the Accountant-General of the Federation says ₦3 trillion was allocated through the Federation Account Allocation Committee for July, to be shared among the federal, state and local governments. The allocation is described as a record distribution to the three tiers of government. Supporters say the larger revenues could give states and local governments more capacity to provide public services and development projects. The development has also been presented as a positive sign for the economy and the Tinubu administration’s long-term growth target. The real impact will depend on how transparently and effectively the funds are used.

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