Nigerians have taken to social media to react strongly after Finance Minister Wale Edun announced a major policy shift that forces key revenue-generating agencies to remit all collections directly to the Federation Account Allocation Committee (FAAC).
Edun, speaking in Abuja on October 9, 2025, disclosed that the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) would no longer retain any portion of their earnings for internal expenses. He explained that the move was designed to improve transparency, block leakages, and reinforce President Bola Tinubu’s Renewed Hope Agenda, which aims to provide financial support to ten million vulnerable families across the country.
The decision follows revelations that several agencies withheld a staggering ₦657.99 billion in the first half of 2025 alone. According to the Finance Minister, such practices have deprived the federal treasury of vital funds needed to drive social protection programmes and development initiatives.
However, the announcement has sparked intense debate online. Many Nigerians praised the government’s intention to improve accountability, but others questioned the feasibility and sincerity behind the policy.
An X user, @Egbehi012, criticized the persistent failure of funds to reach the grassroots despite claims of local government autonomy. “These funds never get to the local councils where poverty bites hardest. The so-called local government independence is just for the media. We can do better as a country,” he wrote.
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Similarly, @Mr9iceguy expressed cautious optimism but voiced deep distrust toward government officials. “I like what Edun and Femi are trying to do, but until they dismantle the clique benefiting from the system, this will just be another way to reroute the money. Same corruption, new channel,” he posted.
Another user, @Orjiphiplihip, went further to question accountability mechanisms, saying, “The minister didn’t explain who keeps records of the remitted funds. Nigerians deserve to know where the money goes and who is answerable for it.”
While the reform has been described as one of the boldest fiscal measures in recent years, analysts warn that its success depends on strict enforcement and transparent management of the funds once they reach FAAC.
The announcement has reignited national conversations on fiscal discipline, corruption, and the effectiveness of Tinubu’s economic reforms, issues that continue to dominate both political and public discourse in Nigeria’s digital space.
