This paper conducts the distributed adaptive prescribed performance fuzzy control design for nonlinear multiagent systems (MASs) subjected to actuator faults and dual input saturations. A unified smooth characterizing function is constructed to approximate a practical input saturations model. Then, with the aid of the mean-value theorem, Nussbaum-type function and boundary estimation method, the distributed saturated fault-tolerant controllers are devised to deal with actuator faults and dual input saturations. In order to achieve excellent tracking performance of followers, an improved prescribed performance control method with a tight constraint region is proposed. Different from most existing control methods, the proposed method not only ensures that the tracking error rapidly converges to the specified area within a predetermined time, but also achieves transient performance without obvious overshoot. Stability analysis proves that the consensus tracking error converges to an arbitrary small specified area within a preset time and all signals of the overall controlled systems are semi-globally uniformly ultimately bounded (SUUB). Eventually, the comprehensive simulation results validate the feasibility and superiority of the control strategy.