adsThe Federation Account Allocation Committee (FAAC) is set to release the sum of N7 billion monthly, amounting to N84 billion annually, to each State of the Federation for infrastructure financing effective from May 2026.
Ikeuwa Omebeh, Ebonyi State Commissioner for Information and State Orientation, disclosed this during a State Executive Council press briefing in Abakaliki, Ebonyi State’s Capital on Tuesday.
Omebeh said the initiative applies equally to all States of the Federation, noting that the N84 billion yearly allocation would enable States to access medium- to long-term financing through the FAAC receivables discounting programme, supported by the Debt Management Office (DMO), Abuja.
According to him, the Federation Account Allocation Committee (FAAC) in its meeting held on 20th February, 2026 reached a resolution to set aside the sum of Two hundred and fifty two billion naira (N252,000,000,000) monthly from the Federation Account for Infrastructure financing to the 36 States of the federation for a period of one year, effective from May, 2026.
“Therefore, the sum of seven billion naira (N7,000,000,000) per month for a total of 12 months, amounting to eighty-four billion naira (84,000,000,000), would be released to each of the States of the Federation.adsads
