FG Dismisses Claims of Hidden Spending, Says World Bank Report Misrepresented
The controversy follows the World Bank’s April 2026 edition of the Nigeria Development Update, which found that FAAC deductions gulped N14.94 trillion or 39 percent of revenues before distribution in 2025, with first-line deductions to federal ministries, departments and agencies surpassing budget allocations to major social and growth-oriented ministries.