- The Federation Account Allocation Committee (FAAC) has approved ₦11.5 billion from the 0.5% Stabilisation Fund to bankroll sub-committees preparing the 2026 national budget.
- Finance Minister Wale Edun authorized the transfer in late January to support critical work on revenue projections, expenditure planning, and macroeconomic assumptions.
- The 2026 budget, titled the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is currently undergoing scrutiny by the National Assembly with a tentative passage date of March 17, 2026.
The Federal Government has moved to accelerate the planning phase of the 2026 fiscal year by releasing ₦11.5 billion to various sub-committees of the Federation Account Allocation Committee (FAAC).
Eko Hot Blog reports that official documents indicate the funds were drawn from the 0.5% Stabilisation Fund to ensure a seamless development of the national budget framework.
EDITOR’S PICK
- 540 Candidates Cleared as Lagos APC Moves to Elect LGA Executives
- Court Sentences Pastor to Death for Killing UniUyo Student
- Lagos Teacher Questions Lack of Recognition for One-Day Governor Mentors
The withdrawal, authorized by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on January 28, 2026, is specifically earmarked for committees tasked with refining the 2026 proposed budget.
Before this transaction, the Stabilisation Fund stood at ₦61.11 billion, dropping temporarily to ₦49.61 billion before subsequent inflows pushed the balance back up to ₦54.27 billion by late February.
This financial boost comes as the National Assembly intensifies its review of the ₦58.18 trillion 2026 Appropriation Bill presented by President Bola Tinubu last December.
The budget is built on a $64.85 per barrel oil benchmark and an exchange rate of ₦1,400 to the dollar, focusing on sustaining economic reforms and infrastructure expansion.
Currently, several ministries and government agencies are appearing before Senate and House committees to defend their spending plans.
This defense process is a vital stage where lawmakers scrutinize revenue projections and justify project allocations before the final report is compiled for a scheduled passage on March 17.
Beyond budget planning, the Stabilisation Fund has also been utilized for other statutory obligations, including transfers to the Nigerian Sovereign Investment Authority (NSIA) and forensic audits of the defunct NNPC covering 2015 to 2023.
Fiscal experts note that utilizing the Stabilisation Fund for these sub-committees highlights the increasing need for high-level coordination between federal and state governments.
These committees are responsible for the “heavy lifting” of fiscal planning, setting the benchmarks that determine how national wealth is shared across the three tiers of government.
