About N500bn was deducted from the Federation Account Allocation Committee (FAAC) revenue for May 2026 to fund a national security emergency intervention before the monthly revenue was shared among the Federal Government, states, and local government councils.
Officials familiar with the development said the deduction was made upfront during the FAAC process. One source stated that the security intervention fund accounted for a major portion of the gap between total revenue generated and the final distributable amount.
Documents from the FAAC meeting showed that alongside the security-related allocation, about N250bn was set aside for a Military Intervention Fund, while N252bn was allocated to an Infrastructure Development Fund for states. In addition, N450bn was transferred to the Non-Oil Excess Revenue Account. Altogether, these major deductions amounted to about N952bn.
After these deductions and other statutory adjustments, the remaining distributable revenue for May stood at N2.3tn. This was shared among the three tiers of government, with the Federal Government receiving N818.68bn, states receiving N759.14bn, and local government councils getting N534.28bn. Oil-producing states also received N188.13bn as 13 per cent derivation.
The development comes amid ongoing security challenges across the country, including insurgency, banditry, kidnappings, and resource-related violence.
The Federal Government has continued to increase security spending, procure military equipment, and support intelligence operations aimed at addressing the threats nationwide.
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