Analysis: @atiku does the maths nobody wanted done.
Atiku Abubakar has criticised rising Federation Account Allocation Committee (FAAC) disbursements, arguing that higher nominal allocations have been eroded by naira depreciation, inflation and debt.
Agora Policy data showed allocations rose 322% to ₦18.72 trillion in H1 2026 from ₦4.43 trillion in H1 2021. Meanwhile, Nigeria’s headline inflation eased marginally to 15.39% in August from 15.43% in July, while food inflation fell to 19.57%. The National Bureau of Statistics attributed the slowdown to declining prices of several food items, although significant regional differences persist.
The clash between the Tinubu administration and Atiku Abubakar over Federation Account Allocation Committee (FAAC) disbursements points to a wider pattern that political actors, investors and policy analysts should track closely. It is the gap between nominal and real economic indicators.
The headline figures are striking. FAAC disbursements climbed by roughly 332% in naira terms between the first half of 2021 and the first half of 2026. They rose from about ₦4.43 trillion to ₦18.72 trillion. Adjust for naira devaluation, though, and that growth shrinks to a far more modest gain. It is estimated at around 33% in dollar terms at the prevailing official exchange rate.
This divergence sits at the heart of the political contest. It deserves treatment as a matter of measurement discipline, not partisan spin alone.
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