How Tinubu’s Government Masks Shrinking State Revenues

I argue that although FAAC allocations have grown in naira terms, runaway inflation and a weakened currency have eroded their real value. Quoting only headline figures without accounting for exchange rates, debt burdens, and purchasing power paints a misleading picture. This narrative convinces governors and citizens that state revenues are rising when in reality their spending power is declining. It’s encouraging to see more analysts now question whether bigger allocations truly translate into improved governance or prosperity.

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