Shamseldeen Ogunjimi, accountant-general of the federation (AGF), says the inflow into federation accounts rose to N35 trillion in 2025.
This represents an increase of N8 trillion or 29.63 percent
from the N27 trillion recorded in 2024.
Ogunjimi, represented by Rita Okolie, director federation
account, spoke during the federation account allocation committee (FAAC) post
mortem sub-committee retreat held in Enugu on Monday.
The theme of the retreat was ‘Assessing Fiscal and Sectoral
Policies for Closing Revenue Leakage in the Federation Account’.
Ogunjimi said the growth was a testament to the positive
impact of fiscal reforms instituted by the administration of President Bola
Tinubu.
AGF said it also reflected a heartening move toward a more
resilient economy that would be less dependent on the volatile cycles of oil
revenue.
‘FEDERATION ACCOUNT REMAINS FISCAL LIFELINE ‘
He added that the federation account remains the fiscal
lifeline of the federal system as it is the primary channel through which
national resources are mobilised, pooled, and equitably distributed among the
three tiers of government.
“However, persistent revenue shortfalls, volatility oil
receipts, suboptimal non-oil revenue performance, and systemic leakages have
continued to undermine the efficiency, predictability, and credibility of the
federation account,” he said.
“The retreat convention by the Sub-Committee came at a time
when Nigeria’s fiscal resilience, revenue integrity, and institutional
accountability are more critical than ever.
“Our recent progress is undeniable. In the year 2025,
inflows into the Federation Account rose above N35 trillion, a significant jump
from N27 trillion in 2024.”
‘REVENUE LEAKAGES NOT JUST ABSTRACT BUT SPECIFIC’
The account-general also said revenue leakages were not
merely accounting gaps or abstract but specific and quantifiable.
He added that they occurred at three critical junctions –
collection, remittance, and expenditure oversight.
“They are lost opportunities for development, weakened
public trust, and constraints on our collective aspiration for a stronger and
more prosperous Nigeria as every naira lost is a school not built, a road
unfinished, or a vital service delayed,” he said.
On her part, Doris Uzoka-Anite, minister of finance (state),
assured the participants that she would continue to promote and ensure equity,
fairness and justice in the operations and management of federal account.
The minister, represented by Ali Mohammed, director of home
finance, also expressed confidence that the deliberation would strengthen the
mechanism that ensured the federation account serves the people better.
Earlier, Mohammed Shehu, chairman, Revenue Mobilisation
Allocation and Fiscal Commission (RMAFC), said the volume of resources
available for distribution by the three tiers of government had increasingly
been influenced.
Shehu, represented by Eyo-Nsa Whiley, vice-chairman, FAAC
post mortem subcommittee, said the influence are by economic performance, a
growing array of fiscal and sectoral policies, legislative reforms, economic
instruments, and financing arrangements.
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