Dele Oye: FG Retained N1.1 Trillion Before Sharing May FAAC Allocation

Dele Oye, Chairman of the Alliance for Economic Research and Ethics, has accused the federal government of retaining N1.1 trillion before distributing the May Federal Account Allocation Committee (FAAC) funds, alleging a distortion in fiscal federalism. Oye is advocating for a mandatory 10% savings into a Sovereign Wealth Fund before any distribution. This move is crucial as it could reshape fiscal policies and ensure better long-term financial management and equitable resource distribution among Nigeria's tiers of government.