Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
More than ten days after the Federation Account Allocation Committee (FAAC) held its monthly revenue‑sharing meeting, the federal government has yet to release the customary communiqué that details how billions of naira are carved up among the three tiers of government. The unusual silence, which has persisted as states brace for another round of salary payments, marks the second time this year that the committee has failed to promptly account for a monthly allocation exercise – a departure from the long‑standing practice of issuing a public breakdown shortly after each meeting.
The delay centres on the May meeting, at which FAAC was expected to distribute revenue collected in April 2026. When contacted by TheCable, Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant‑General of the Federation (OAGF), acknowledged that the committee had not finished its work. “I’m just talking to the director of FAAC now. They say they’ve not finished, but give us to, let’s say, 12 o’clock,” Mokwa said, offering no specific date beyond the vague deadline. However, sources at the Federal Ministry of Finance painted a different picture, telling TheCable that the hold‑up stemmed from pending actions at the accountant‑general’s office. “The last time they met, they said they needed to ratify some issues, and since then, we have been following up on them, but they are yet to tell us anything,” one of the sources said. The finger‑pointing has done little to reassure stakeholders who depend on the monthly communiqué to track revenue flows, monitor fiscal discipline and plan state budgets.
FAAC, which brings together representatives of the federal government, the 36 state governments and the 774 local government councils, typically meets during the second or third week of each month to carve up revenue from the Federation Account. After the meeting, the Ministry of Finance usually issues a detailed communiqué that includes the total distributable revenue, statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), exchange difference earnings, and the specific allocations to each tier of government. At the previous FAAC meeting, held in April, the committee shared N2.03 trillion from March 2026 revenue. This month, however, no such statement has been issued.
The silence comes at an acutely sensitive time. Many state governments rely heavily on monthly FAAC allocations to meet salary obligations and other recurrent expenditures. The delay has forced some states to scramble for alternative funding sources, while civil servants in at least a few jurisdictions are reportedly watching their pay dates slip past the usual five‑day window after the FAAC meeting. The recurrence of a similar situation earlier this year has only deepened anxiety. In January, the committee also delayed publishing the outcome of its revenue‑sharing exercise, breaking from its established practice and triggering questions about transparency before the figures were eventually released. The fact that the same pattern is repeating itself just months later is likely to fuel fresh concerns about the openness of one of the country’s most critical fiscal processes.
This latest delay also coincides with a leadership transition at the Federal Ministry of Finance. In April, President Bola Tinubu appointed Taiwo Oyedele as Minister of Finance and Coordinating Minister of the Economy, after Wale Edun was relieved of the position. Oyedele formally assumed office on April 24, following a brief handover. While there is no direct evidence linking the change in leadership to the holdup, the revenue‑sharing exercise is among the first major fiscal decisions to be conducted under the new minister. The delayed communiqué, therefore, is being watched not only for the numbers it will eventually contain, but also as an early signal of how the ministry under Oyedele will handle transparency and accountability in public finance.
Beyond the immediate fiscal implications, the prolonged silence raises broader governance questions. FAAC communiqués are more than administrative paperwork; they are a public record of how Nigeria’s collective wealth is distributed among states and local governments. When those records are delayed, even for a few days, the opacity feeds speculation about hidden deductions, unresolved reconciliation issues or potential disagreements between revenue agencies. In January, economist Prof. Ken Ife warned that such delays can create a cascade of problems: “The delay in revenue sharing has a ripple effect, delaying the payment of workers’ salaries, stalling payments to contractors, and consequently reducing productivity and overall economic activity at the state level,” he told the News Agency of Nigeria. He also noted that the impasse could be rooted in disagreements over revenue remittances to the Federation Account, particularly from the Nigerian National Petroleum Company Limited (NNPC).
As the clock ticks toward the second week without a communiqué, the OAGF has offered no definitive timeline beyond the elusive “12 o’clock” promise. Analysts have urged the federal government to provide a clear explanation for the delay and to expedite the release of the document to avert further fiscal instability. For now, however, the only certainty is that Nigeria’s monthly fiscal ritual – one that affects salaries, contracts, and the delivery of basic services – is stuck in limbo, and no one is saying exactly why.
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