Nigeria’s statutory revenue allocation fell N20.74tn short of its budget target in the first 10 months of 2026, despite a sharp increase in crude oil prices triggered by the United States-Iran war, raising questions about the extent to which the country has converted the global oil market rally into stronger government…

…Mobilisation Allocation and Fiscal Commission has completed the review of Nigeria’s Revenue Allocation Formula, paving the way for a new framework for sharing revenues among the Federal, state and local governments. The commission also said it had concluded the review of remuneration for judicial office holders, while…

…statutory component, N283.47bn from VAT and N53.44bn from the augmentation. The April revenue allocation was even higher. FAAC later distributed N2.257tn from April revenue, with state governments receiving N772.36bn. The distributable pool included N1.26tn in statutory revenue, N747.09bn in VAT and N250bn in augmentat…

…information available to the Commission and assess fiscal data required for effective revenue allocation. Speaking at an earlier stakeholders' engagement, the Commissioner for Finance, Kenneth Lekue, said the state government recognises the importance of the exercise, particularly its relevance to revenue allocation an…