Nkechi Linda
New member
I was reading through a report released by the National Bureau of Statistics (NBS). It wasn't gossip. It wasn't politics.
It was something every Nigerian should read at least once in their lifetime.
It was the FAAC Allocation Report for April 2026.
And after reading it, I asked myself one simple question...
How many Nigerians actually know where their tax money goes?
Not what politicians tell us...
Not what we see on television...
But the actual money shared every month.
Most people don't.
That is why today as your Financial Literacy Advocate, I want to explain it like I am talking to Mama Ngozi who sells tomatoes in the village.
Don't worry about the big Grammar...
you don't need to study accounting and finance like me... I have done that already..
So...
I will break everything down with a simple story.
No accounting grammar.
No economics grammar.
Just common sense.
Let's say an entire family owns one big farm.
Every month, that farm produces money.
Nobody in the family owns the farm alone.
So at the end of every month, everybody gathers around one table to share the money.
That is exactly what FAAC is.
FAAC simply means Federation Account Allocation Committee.
Every month, Nigeria gathers money from different sources.
For example:
Oil revenue
VAT (the small tax you pay whenever you buy many goods and services)
Company taxes
Non-oil revenue
Solid minerals
Then this money is shared.
So IKING... how much was shared?
Oya... Relax.
Let me explain....
For the April 2026 allocation, a total of ₦2.63 TRILLION was shared across Nigeria.
Read that again.
Not ₦2.63 billion.
₦2.63 TRILLION.
That money came from different places, including:
• ₦1.70 trillion from statutory revenue
• ₦664.42 billion from VAT
• ₦200 billion from non-oil revenue
• ₦68.10 billion from solid minerals.
But IKING....
Who received the money?
Hmmm...
This is where many Nigerians get it wrong.
Many people believe only the President controls government money.
No.
The money is shared among three levels of government.
1. Federal Government
Received: ₦820.37 billion
2. The 36 State Governments
Shared: ₦673.43 billion
3. The 774 Local Governments
Shared: ₦481.03 billion.
Now I want you to pause for a second...
If roads in your community are bad...
Primary healthcare is poor...
Primary schools are falling apart...
Local markets have no toilets...
Street lights don't work...
The first question should not always be:
"What is the President doing?"
Sometimes...
The better question is:
"Governor, what are you doing with the money your state receives every month?"
Or...
"Chairman, what are you doing with the money allocated to our local government?"
That is financial literacy.
Chieeh...
But IKING.....Which states received the highest allocations?
Oya Relax, let me Go deeper.. According to the NBS report:
Delta State received about ₦53.77 billion
Rivers State received about ₦46.64 billion
Akwa Ibom State received about ₦44.84 billion
Bayelsa also received over ₦41.93 billion, while Lagos received about ₦40.51 billion.
Every other state received money.
From Abia...Adamawa...Akwa Ibom...Anambra...Bauchi...Bayelsa...Benue...
Borno...Cross River...Delta...Ebonyi...Edo...
Ekiti...Enugu...Gombe...Imo...Jigawa...Kaduna...Kano...Katsina...Kebbi...Kogi...Kwara...Lagos...
Nasarawa...Niger...Ogun...Ondo...Osun...Oyo...
Plateau...Rivers...Sokoto...Taraba...Yobe...
Zamfara...
...every state received an allocation, while the Federal Capital Territory (FCT) also received its own allocation under a different category.
For those of us in the South-East, let me bring it closer to home...
Many times, we complain about what is happening in Nigeria, but we rarely ask how much money actually came into our own state.
According to the National Bureau of Statistics (NBS) FAAC April 2026 Allocation Report, this is what the five South-East states received from the Federation Account:
Abia State - ₦16.09 billion
Anambra State - ₦17.46 billion
Ebonyi State - ₦13.88 billion
Enugu State - ₦13.24 billion
Imo State - ₦16.79 billion
Now, please understand something very important...
These figures are only the allocations that went to the state governments from FAAC.
Apart from this money, all the Local Government Areas (LGAs) in these states also received their own separate allocations directly from the same FAAC pool. Across Nigeria, local governments shared ₦481.03 billion for the month.
So, whenever someone says, "There is no money," don't argue.
Just ask respectfully:
"How much came into our state this month?"
"How much came into our local government?"
"What projects has this money been used for?"
That is not politics.
That is financial literacy.
That is citizens asking informed questions.
Please understand that...This is NOT all the money available to your states.
This is only the money shared from the Federation Account.
Apart from this...
Every States also generate money through:
• PAYE taxes
• Land charges
• Business registrations
• Market fees
• Road taxes
• Other internally generated revenue (IGR).
So when a state says,
"There is no money..."
The next question should be:
"Can you explain how the allocations and the state's own revenue have been used?"
That is accountability.
Because...
Financial literacy is not only about investing.
It is also about understanding how your country manages public money.
When you understand where money comes from...
You ask better questions.
When you ask better questions...
Leaders know people are paying attention.
And when citizens pay attention...
Government has more reason to explain how public funds are being spent.
I am not writing this to tell you which politician to support or oppose.
That is your personal decision.
I am writing this because an informed citizen is harder to deceive.
And... As a financial literacy advocate, I believe that before we argue about politics, we should first understand how the money is shared.
Knowledge comes before opinions.
And sometimes...
The most powerful question in a democracy is simply:
"The money came into our state this month... what exactly has it been used for?"
If every Nigerian starts asking that question respectfully and consistently, we would all understand our public finances much better.
My name is Iking Ferry,
A Financial Literacy Advocate and Investment Strategist on a Mission to Build 10 million Financially Free Nigerians via Fokona with the right Knowledge.
It was something every Nigerian should read at least once in their lifetime.
It was the FAAC Allocation Report for April 2026.
And after reading it, I asked myself one simple question...
How many Nigerians actually know where their tax money goes?
Not what politicians tell us...
Not what we see on television...
But the actual money shared every month.
Most people don't.
That is why today as your Financial Literacy Advocate, I want to explain it like I am talking to Mama Ngozi who sells tomatoes in the village.
Don't worry about the big Grammar...
you don't need to study accounting and finance like me... I have done that already..
So...
I will break everything down with a simple story.
No accounting grammar.
No economics grammar.
Just common sense.
Let's say an entire family owns one big farm.
Every month, that farm produces money.
Nobody in the family owns the farm alone.
So at the end of every month, everybody gathers around one table to share the money.
That is exactly what FAAC is.
FAAC simply means Federation Account Allocation Committee.
Every month, Nigeria gathers money from different sources.
For example:
Oil revenue
VAT (the small tax you pay whenever you buy many goods and services)
Company taxes
Non-oil revenue
Solid minerals
Then this money is shared.
So IKING... how much was shared?
Oya... Relax.
Let me explain....
For the April 2026 allocation, a total of ₦2.63 TRILLION was shared across Nigeria.
Read that again.
Not ₦2.63 billion.
₦2.63 TRILLION.
That money came from different places, including:
• ₦1.70 trillion from statutory revenue
• ₦664.42 billion from VAT
• ₦200 billion from non-oil revenue
• ₦68.10 billion from solid minerals.
But IKING....
Who received the money?
Hmmm...
This is where many Nigerians get it wrong.
Many people believe only the President controls government money.
No.
The money is shared among three levels of government.
1. Federal Government
Received: ₦820.37 billion
2. The 36 State Governments
Shared: ₦673.43 billion
3. The 774 Local Governments
Shared: ₦481.03 billion.
Now I want you to pause for a second...
If roads in your community are bad...
Primary healthcare is poor...
Primary schools are falling apart...
Local markets have no toilets...
Street lights don't work...
The first question should not always be:
"What is the President doing?"
Sometimes...
The better question is:
"Governor, what are you doing with the money your state receives every month?"
Or...
"Chairman, what are you doing with the money allocated to our local government?"
That is financial literacy.
Chieeh...
But IKING.....Which states received the highest allocations?
Oya Relax, let me Go deeper.. According to the NBS report:
Delta State received about ₦53.77 billion
Rivers State received about ₦46.64 billion
Akwa Ibom State received about ₦44.84 billion
Bayelsa also received over ₦41.93 billion, while Lagos received about ₦40.51 billion.
Every other state received money.
From Abia...Adamawa...Akwa Ibom...Anambra...Bauchi...Bayelsa...Benue...
Borno...Cross River...Delta...Ebonyi...Edo...
Ekiti...Enugu...Gombe...Imo...Jigawa...Kaduna...Kano...Katsina...Kebbi...Kogi...Kwara...Lagos...
Nasarawa...Niger...Ogun...Ondo...Osun...Oyo...
Plateau...Rivers...Sokoto...Taraba...Yobe...
Zamfara...
...every state received an allocation, while the Federal Capital Territory (FCT) also received its own allocation under a different category.
For those of us in the South-East, let me bring it closer to home...
Many times, we complain about what is happening in Nigeria, but we rarely ask how much money actually came into our own state.
According to the National Bureau of Statistics (NBS) FAAC April 2026 Allocation Report, this is what the five South-East states received from the Federation Account:
Abia State - ₦16.09 billion
Anambra State - ₦17.46 billion
Ebonyi State - ₦13.88 billion
Enugu State - ₦13.24 billion
Imo State - ₦16.79 billion
Now, please understand something very important...
These figures are only the allocations that went to the state governments from FAAC.
Apart from this money, all the Local Government Areas (LGAs) in these states also received their own separate allocations directly from the same FAAC pool. Across Nigeria, local governments shared ₦481.03 billion for the month.
So, whenever someone says, "There is no money," don't argue.
Just ask respectfully:
"How much came into our state this month?"
"How much came into our local government?"
"What projects has this money been used for?"
That is not politics.
That is financial literacy.
That is citizens asking informed questions.
Please understand that...This is NOT all the money available to your states.
This is only the money shared from the Federation Account.
Apart from this...
Every States also generate money through:
• PAYE taxes
• Land charges
• Business registrations
• Market fees
• Road taxes
• Other internally generated revenue (IGR).
So when a state says,
"There is no money..."
The next question should be:
"Can you explain how the allocations and the state's own revenue have been used?"
That is accountability.
Because...
Financial literacy is not only about investing.
It is also about understanding how your country manages public money.
When you understand where money comes from...
You ask better questions.
When you ask better questions...
Leaders know people are paying attention.
And when citizens pay attention...
Government has more reason to explain how public funds are being spent.
I am not writing this to tell you which politician to support or oppose.
That is your personal decision.
I am writing this because an informed citizen is harder to deceive.
And... As a financial literacy advocate, I believe that before we argue about politics, we should first understand how the money is shared.
Knowledge comes before opinions.
And sometimes...
The most powerful question in a democracy is simply:
"The money came into our state this month... what exactly has it been used for?"
If every Nigerian starts asking that question respectfully and consistently, we would all understand our public finances much better.
My name is Iking Ferry,
A Financial Literacy Advocate and Investment Strategist on a Mission to Build 10 million Financially Free Nigerians via Fokona with the right Knowledge.