Governors of the 36 states and the Federal Capital Territory have become the biggest winners of President Bola Tinubu’s petrol subsidy removal, with unprecedented federation account allocations swelling state coffers and ushering in an era of multi-billion-naira monthly revenues.
Allocation reached a record N3.007tn in July 2026, making it the first time monthly Federation Account Allocation Committee distributions crossed the N3tn mark.
The amount shared among the Federal Government, states and local governments also increased the funds available to state governments.
The July allocation followed N2.551tn shared in June and N1.894tn in February.
However, policy analysts, civil society groups and other critics say the increase in revenue has not translated into a corresponding improvement in the living conditions of Nigerians facing rising living costs, unemployment, poverty and inadequate public services.
