The Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee has recovered N2.36tn and $7.87m in outstanding revenue arrears from revenue-generating agencies that had failed to remit funds into the Federation Account.
Findings from the committee’s latest reconciliation report, released on Wednesday, show that the amount reconciled and paid into the Federation Account within the first 12 months of 2025 exceeded the total reconciled in the entire 2024 fiscal year by 73.5 per cent.
The recovered funds were remitted following reconciliation exercises aimed at identifying and plugging revenue leakages, particularly in the oil and gas sector. The initiative forms part of FAAC’s broader strategy to ensure that all revenues due to the three tiers of government are fully accounted for and paid into the Federation Account.
An analysis of the FAAC Post-Mortem Sub-Committee meeting report indicated that between January and September 2025, reconciled arrears paid into the Federation Account stood at N2.36tn.
By November 2025, an additional N981.67m and $7.87m had been reconciled and credited, bringing the cumulative 2025 total to N2.36tn plus $7.87m.
The dollar-denominated recoveries were largely driven by crude oil export profit shares, production-sharing contract royalties, and other oil and gas-related revenues.
The reconciliation process underscores ongoing efforts by FAAC to strengthen revenue transparency and improve fiscal accountability across government agencies.
