All of Nigeria’s major revenue-generating agencies underperformed in December 2025, falling short of their expected contributions to the Federation Account, according to data presented at the February meeting of the Federation Account Allocation Committee (FAAC).
An analysis of the Central Bank of Nigeria’s (CBN) Federation Account Component Statement revealed that none of the agencies met 40% of their projected performance benchmarks. The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded the weakest remittance, posting just 0.38% of expected revenue with N9.79 billion contributed to the federation account in December.
The report, reviewed at the FAAC Post-Mortem Sub-Committee (PMSC), showed that the agencies collectively generated N2.585 trillion for the federation account during the month. However, individual contributions remained well below optimal expectations, highlighting challenges in revenue mobilisation.
In contrast, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recorded a 22.94% performance rate, remitting N593.11 billion into the federation account.
Despite oil being the backbone of Nigeria’s revenue structure, the extremely low performance from NNPC underscores persistent concerns about the sector’s contribution to government finances. Analysts say improving efficiency and oversight in these revenue-generating agencies is critical to boosting the federation account and funding national priorities.
