By Kofoworola Fakeye, JKNewsMedia Reporter
ABOUT N500 billion was deducted from May 2026 Federation Account (FAAC) revenues for security related interventions before funds were shared among the Federal Government, states and local governments, according to FAAC records.
JKNewsMedia.com reports that the deduction formed part of N952 billion in pre distribution commitments captured in the May revenue allocation records.
Of the amount, N250 billion was reportedly earmarked for a Military Intervention Fund (MIF), while N252 billion was allocated to an Infrastructure Development Fund (IDF) for states before the remaining revenue was distributed among the three tiers of government.
FAAC was also said to have distributed N2.3 trillion for May, with the Federal Government receiving N818.68 billion, states receiving N759.14 billion, local governments receiving N534.27 billion and oil producing states receiving N188.13 billion through derivation.
FAAC records note that the allocation represented an increase of about N43 billion compared with the previous month’s distribution.
The funding intervention also comes amid security challenges including banditry, kidnapping, insurgency and oil theft across several regions of the country.
JKNewsMedia.com also reports that Economist Dr Ayo Teriba said Nigerians would generally support increased funding for security, while Prof. Akpan Ekpo emphasised the need for transparency, accountability and effective implementation.
It was noted that the development also coincides with concerns raised by the Department of State Services (DSS) over foreign financing for a proposed Security Trust Fund (STF).
The agency warned lawmakers that such arrangements could affect intelligence operations and national sovereignty.
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