The Federation Account Allocation Committee has approved the transfer of N11.5bn from the 0.5 per cent Stabilisation Fund to finance the operations of its sub-committees working on preparations for the 2026 national budget framework, according to official documents obtained by The PUNCH. The document indicated that N11,500,000,000.01 was withdrawn from the account on January 28, 2026, specifically for the sub-committees handling the preparation of the 2026 proposed budget. The document showed that by February 20, 2026, the Stabilisation Fund account had recorded a closing balance of N54.27bn. Economic and fiscal experts say the use of the fund to support FAAC budget sub-committees underscores the growing fiscal coordination required among federal and sub-national governments in planning national budgets. The FAAC sub-committees typically work on critical components of the fiscal framework, including revenue projections, expenditure planning, oil price benchmarks, and macroeconomic assumptions, which ultimately shape the national budget and revenue distribution to the three tiers of government.

Source: Punch March 09, 2026 10:49 UTC