By George Ozalla
The Federation Account Allocation Committee (FAAC) has shared N2.001 trillion across the three tiers of government for July 2025, although there’s no confirmation on this figure yet. Recent allocations show varying figures, such as N1.659 trillion shared for May 2025, with a gross revenue of N2.942 trillion; N1.703 trillion shared for January 2025, from a gross total of N2.641 trillion; N1.578 trillion shared for March 2025, from a gross total of N2.411 trillion; and N1.358 trillion shared for July 2024, from a gross total of N2.613791 trillion.
The allocations are typically based on revenue-sharing formulas and are distributed among the Federal Government, State Governments, and Local Government Councils. These funds are crucial for supporting government operations, infrastructure development, and social programs at various levels.
In May 2025, the Federal Government received N538.004 billion, State Governments got N577.841 billion, Local Government Councils received N419.968 billion, and oil-producing states received N124.076 billion as derivation. In January 2025, the Federal Government received N552.591 billion, State Governments got N590.614 billion, Local Government Councils received N434.567 billion, and oil-producing states received N125.284 billion as derivation.
These allocations indicate the government’s efforts to manage and distribute national revenue effectively, despite fluctuations in key revenue streams.
The Minister of Finance, Wale Edun, has been instrumental in shaping Nigeria’s economic landscape since assuming office. With over four decades of experience in merchant banking, corporate finance, economics, and international finance, he brings a wealth of knowledge to the role. Some of his notable initiatives include establishing the Nigeria Diaspora Fund to mobilize and utilize diaspora remittances into the productive economy. This fund targets to strengthen Nigeria’s connections with local and international investors, encouraging them to invest in the country’s economy.
The ministry is also working to create an enabling environment for investments to thrive, removing roadblocks and red tape to ensure investments yield maximum returns. Under the leadership of Minister Edun, the government is committed to supporting investment drives and promoting economic growth. The Minister’s efforts have been focused on private equity and asset management, where the ministry is implementing strategic measures to attract capital investments, aiming to transform domestic businesses and industries into global competitors. By creating a favorable investment climate, the Minister hopes to stimulate economic growth and development in Nigeria.
