Atiku Says Rising FAAC Allocations Mask Naira’s Falling Value

Former Vice President Atiku Abubakar has argued that the Federal Government’s rising FAAC allocations do not reflect real economic growth. He said the larger naira figures lose value when measured against currency depreciation, inflation and declining purchasing power. Atiku compared FAAC distributions of about ₦7.85 trillion in 2019 with roughly ₦21.9 trillion in 2025. He argued that, despite the increase in naira terms, the dollar value of the allocations fell sharply. He also said the ₦70,000 minimum wage now buys less in real terms than the ₦30,000 wage did several years ago. He questioned why many states still carry large debts, unpaid pensions, contractor obligations and other liabilities despite record allocations. According to him, the real measure of public revenue should be improved living standards, infrastructure and debt reduction rather than higher figures announced after FAAC meetings.

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