The question is what Nigeria has built with more than N160 trillion in public allocations over nearly three decades. This means that the estimated FAAC allocations shared since 1999 are larger than the country’s entire current debt stock. Nigeria’s proposed 2026 capital expenditure of N26.08 trillion is only a fraction of the estimated FAAC allocations shared since 1999. Salaries, recurrent expenditure, political appointments, administrative costs and government overheads consume substantial portions of public resources, while capital projects remain insufficient. Until that happens, N160 trillion in FAAC allocations will remain a symbol of missed opportunity rather than a foundation for national transformation.