External debt obligations gulped a total of N136.54bn from revenues generated by the federation in January 2026, according to Federation Account Allocation Committee documents analysed by The PUNCH. The amount was deducted at source from the gross revenue for the month before distribution in February 2026, effectively reducing the net FAAC allocations available to the three tiers of government. Findings showed that the January 2026 deduction represents an increase of N10.53bn or 8.35 per cent when compared with the N126.01bn deducted from January 2025 revenues..............................….......READ MORE