The Claim
During a recent ministerial press briefing in Abuja, senior cabinet officials asserted that monthly Federation Account Allocation Committee (FAAC) transfers to state governments have more than doubled in nominal terms compared to 2022 and early 2023 benchmarks.
The Evidence
Red Pen Labs reviewed official monthly disbursement reports published by the National Bureau of Statistics (NBS) and the Office of the Accountant-General of the Federation (OAGF) covering January 2022 through December 2024.
Nominal Naira Figures vs. Inflation-Adjusted Purchasing Power
1. **Nominal Inflows:** In the first half of 2022, total monthly FAAC distributions to all three tiers of government averaged approximately ₦650 billion to ₦750 billion. By mid-2024, post-subsidy removal and post-currency devaluation distributions surged past ₦1.2 trillion to ₦1.4 trillion monthly. 2. **State Tier Share:** In nominal Naira figures, state allocations did indeed increase by roughly 85% to 110% depending on derivation status and solid mineral royalties. 3. **The Inflation Factor:** However, during the identical period, headline inflation rose from 21.8% to over 33%, while food inflation surpassed 39%. When adjusted for purchasing power parity and construction material input costs, the real fiscal expansion experienced by subnationals was estimated at between 12% and 18%.
Verdict: MOSTLY TRUE (With Vital Context)
The assertion that state governors are receiving more than double the volume of nominal Naira is mathematically factual based on official treasury accounts. However, categorizing this as a doubled resource endowment without clarifying that domestic inflation and foreign exchange adjustments significantly eroded real buying power leaves an incomplete public record. State accountability must focus on capital delivery per Naira spent rather than raw treasury balances.