More Money For Govt Yet Nigerians Get Poorer
A new analysis has shown that funds shared by the Federation Accounts Allocation Committee to the three tiers of government have surged sharply in the last four years, yet living conditions for most Nigerians keep deteriorating. The report revealed that total FAAC allocations jumped from about N9.18 trillion in 2022 to N10.9 trillion in 2023 and N15.26 trillion in 2024, an increase of roughly 66 percent within two years. Despite this rise in public revenue, poverty indicators remain grim, with more households struggling to afford food, transport, health care and housing. Rising inflation, weak job growth and the impact of subsidy removal have combined to wipe out any potential benefits of higher government earnings for ordinary citizens. Data in the report show that states and local governments have also benefited significantly from the higher inflows, receiving record amounts from FAAC […]