Nigeria’s Federation Account received a major inflow of N1.49 trillion in the first half of 2025 from arrears reconciled and paid by the country’s revenue generating agencies, fresh data from the Federation Accounts Allocation Committee (FAAC) has shown.
A report by the FAAC Post-Mortem Sub-Committee (PMSC), which reviews remittances from key agencies, indicated that the cumulative inflows into the Federation Account between January and June 2025 came from reconciled outstanding arrears previously owed by key agencies.
These included: The Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Federal Inland Revenue Service (FIRS), and other statutory bodies.
According to the report seen by THISDAY, the total arrears inflows amounted to exactly N1,490,778,578,480.61 over the six-month period, averaging over N248 billion monthly and providing additional fiscal space for the government at a time of government’s mounting debt service obligations.
The figures released showed that in January 2025, reconciled arrears worth N367.37 billion were remitted to the Federation Account, the highest single-month inflow during the period.
This was followed by N227.15 billion in February and N175.99 billion in March.
