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FG, States, LGCs Share N2.338trn August 2026 Revenue

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By Tony Obiechina, Abuja

A total sum of N2.338 trillion, being August 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.

The revenue was shared at the September 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N2.

338 trillion total distributable revenue comprised distributable statutory revenue of N1.565 trillion, distributable Value Added Tax (VAT) revenue of N773.233 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N3.

685 trillion was available in the month of August 2026. Total deduction for cost of collection was N125.142 billion while total transfers, refunds and savings N1.221 trillion.

According to the communiqué, gross statutory revenue of N2.850 trillion was received for the month of August 2026. This was lower than the sum of N4.359 trillion received in the preceding month by N1.508 trillion. 

Gross revenue of N834.843 billion was available from the Value Added Tax (VAT) in August 2026. This was higher than the N793.968 billion available in the month of July 2026 by N40.875 billion.  

The communiqué stated that from the N2.338 trillion total distributable revenue, the Federal Government received a total sum of N804.897 billion and the State Governments received a total sum of N794.313 billion.

The Local government Council received N555.142 billion, while the sum of N184.388 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.

On the N1.565 billion distributable statutory revenue, the communiqué stated that the Federal Government received N727.573 billion and the State Governments received N369.035 billion.

The Local Government Councils received N284.511 billion and the sum of N184.388 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N773.233 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N77.323 billion, the State Governments received N425.278 billion and the Local Government Councils received N270.632 billion.

In August 2026, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VTA), CET Levies and Excise Duty increased significantly while Companies income Tax (CIT), CGT, SDT, Petroleum Royalties, Mineral Royalties, and Gas Flared Penalty   Import Duty, Rental Gas Flared Fee and Misc. Oil Revenue decreased considerably.

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FG Tackles N330bn Export Grant Liabilities, Reviews Funding Model

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By Tony Obiechina, Abuja

The Federal Government has begun fresh moves to clear about N330bn in outstanding claims under the Export Expansion Grant (EEG) scheme, while working on a new framework to make the export incentive programme more sustainable.

The Nigerian Export Promotion Council (NEPC), in collaboration with the Manufacturers Association of Nigeria Export Group and other stakeholders, is coordinating the process following a directive from the Minister of Industry, Trade and Investment, Dr.

Jumoke Oduwole.

The NEPC Executive Director/Chief Executive Officer, Nonye Ayeni, disclosed this on Thursday at a stakeholder engagement on the EEG scheme at the council’s headquarters in Abuja.

Ayeni said the meeting was convened to reconcile outstanding liabilities, identify challenges affecting the scheme and develop practical recommendations for its restructuring.

She said the Federal Government’s renewed emphasis on non-oil exports had made it necessary to restore confidence in the incentive framework and ensure that exporters had greater certainty.

According to her, the EEG has historically supported Nigerian exporters and improved the competitiveness of non-oil products. She said the government was therefore committed to ensuring that the incentive system remained credible, transparent and sustainable.

Ayeni, however, stressed that the settlement of outstanding claims would be subject to verification and the required approval processes.

The liabilities under consideration include previously approved claims under the Promissory Note mechanism, verified claims for the 2017–2020 and 2021–2022 periods, as well as stepped-down claims that remain subject to verification and approval.

She recalled that the Federal Executive Council, in May 2023, approved a Promissory Note Programme covering approximately N269.45bn in verified EEG claims for 195 beneficiary companies.

She added that outstanding stepped-down claims for 32 companies covering the 2017–2020 period were estimated at about N60.64bn, bringing the combined outstanding figure to approximately N330.08bn.

The reconciliation process involves the Federal Ministry of Industry, Trade and Investment, NEPC, Ministry of Finance, Debt Management Office, Office of the Accountant-General of the Federation, Central Bank of Nigeria, National Assembly and other relevant institutions.

Beyond settling the backlog, Ayeni said the government was reviewing the funding architecture of the scheme to ensure that future obligations could be sustainably financed.

She disclosed that President Bola Tinubu had approved the establishment of a professionally managed Trade Facilitation Fund, with 40 per cent of monthly Nigerian Export Supervision Scheme collections to be ring-fenced for strategic trade-facilitation and export-incentive interventions.

According to Ayeni, the arrangement is expected to establish a clearer link between available funding, verified export performance and government support for exporters.

She also noted that Nigeria had recorded increases in the volume and value of non-oil exports, the number of products exported and the destinations reached.

Ayeni urged exporters to focus more on value addition, saying stronger domestic processing would contribute to industrialisation, job creation and poverty reduction.

The EEG is a post-shipment incentive established under the Export (Incentives and Miscellaneous Provisions) Act, Cap E19, to improve the competitiveness of Nigerian products and increase the volume and value of non-oil exports.

Under the scheme, eligible exporters receive Export Credit Certificates, which may be used for specified Federal Government tax obligations and other approved liabilities. Eligibility takes into account factors such as local value addition, local content, employment and export growth.

The Federal Government also approved N308.45bn in promissory notes for 199 exporting companies in March 2023, covering various categories of outstanding EEG claims.

Ayeni said Thursday’s engagement was intended to produce practical recommendations, clear action points and a stronger framework for administering Nigeria’s export incentives.

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NEWS

NCDC Unveils 20-Year Plan for Regional Transformation

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By David Torough, Abuja

The North Central Development Commission (NCDC) has unveiled a draft 20-year development plan aimed at transforming Benue, Kogi, Kwara, Nasarawa, Niger, Plateau and the Federal Capital Territory into a more productive, connected, inclusive, secure, resilient and digitally enabled region.

The plan, covering 2027 to 2046, was presented at the NCDC Road Map and Stakeholders’ Development Summit held in Abuja from September 14 to 15, 2026, under the theme, “The Great Leap Forward: A 20-Year Economic, Infrastructural and Social Development Plan for the North Central Region.

The summit attracted 862 physical participants and 49 online participants, including representatives of the Federal Government, governors of the six mandate states and the FCT, members of the National Assembly, traditional and religious leaders, development partners, the private sector, academia, civil society, youth and women groups, professional bodies and the media.

In the communiqué adopted at the close of the summit, participants said the region had substantial agricultural land, water, mineral and energy resources, human capital, markets and a strategic location, but had not consistently converted these assets into higher productivity, incomes, industrial capacity and improved social outcomes.

They identified fragmented planning, weak inter-state connectivity, insecurity, infrastructure deficits, limited value addition, unreliable data and inconsistent implementation as major constraints to regional development.

The summit consequently called for the NCDC to serve principally as a regional coordinator, investment catalyst and development enabler, while governments, communities, investors and other partners take clearly defined roles in implementing the plan.

On the economy, participants recommended the creation of a GIS-enabled regional economic database to map productive assets, agricultural resources, minerals, infrastructure gaps and investment opportunities.

They also called for the development of state-specific agricultural and livestock value chains, greater mechanisation and irrigation, improved storage and processing, and stronger export capacity.

The communiqué further recommended the formalisation of artisanal mining and the development of mineral-processing and manufacturing clusters to retain more value, employment and public revenue within the region.

Support for micro, small and medium enterprises and industrial clusters through skills development, affordable finance, market access and investor incentives was also proposed.

On infrastructure, the summit recommended an integrated regional programme linking the states and FCT through roads, rail, inland waterways and logistics systems.

It specifically called for urgent consideration of high-impact corridors, including the Abuja-Lokoja Road, alongside phased feasibility studies for regional rail, Baro inland-port logistics, dry-port connections and modern freight systems.

Participants also proposed a regional energy programme, improved public water supply and irrigation, and greater attention to climate resilience, security, operations and maintenance in infrastructure planning.

The social-development component of the plan focuses on education, skills, healthcare and economic inclusion. The communiqué proposed a regional human-capital and social-inclusion database covering children, youth, women, persons with disabilities, indigent households and rural communities.

It also called for measures to reduce school dropout, address teacher shortages, improve learning quality and expand STEM, technical and vocational education linked to regional industries and value chains.

In healthcare, the summit recommended strengthening teaching hospitals and specialised institutions, expanding health-insurance coverage for vulnerable residents, improving access to essential medicines and addressing mental health and substance-abuse concerns.

Security was described as “productive infrastructure,” with participants stressing that agriculture, trade, investment, education and community life could not thrive where people, assets and transport corridors remained unsafe.

The proposed regional security framework would emphasise intelligence sharing, community engagement, early warning systems and inter-state coordination.

The communiqué also recommended assessing the responsible use of satellite imagery, drones and geospatial technology, with appropriate safeguards and operational protocols.

Climate and environmental resilience featured prominently in the recommendations. The summit called for mapping flood, erosion, drought and mining hazards, strengthening early-warning systems, undertaking flood and erosion-control projects and establishing recovery pathways for people displaced by climate-related events.

It also recommended a “safeguard-before-scale” approach to mining and major infrastructure projects, including a regional mining-hazard register, mine-site remediation and ecosystem restoration.

For the digital economy, the plan proposes expanding broadband connectivity and affordable digital access across the region, including local governments, wards and underserved rural communities.

AI, digital-skills and teacher-training centres are also proposed, alongside innovation hubs, makerspaces and dedicated financing for technology enterprises.

The summit further called for skills programmes to be linked directly to employment opportunities, including business-process outsourcing and credible remote-work platforms.

On financing, participants recommended matching funding models to the economic characteristics of individual projects.

Commercially viable projects would be expected to attract private investment, while projects with strong economic benefits but weaker initial returns could use blended finance, with essential non-commercial services receiving appropriate public funding.

The communiqué called for stronger project preparation, including feasibility studies, financial models, transparent contracts, credible sponsors, risk allocation and operations and maintenance plans before projects are presented to investors.

To sustain implementation, the summit recommended giving the 20-year plan legal and institutional backing and establishing a Programme Management Office within the NCDC. The office would coordinate flagship programmes, project preparation, financing, implementation support, risk management and performance reporting.

The proposed framework also calls for verified baselines, measurable targets and regular public reporting, with implementation reviews annually and at three-year and five-year intervals.

The communiqué said security, reliable data, inclusion, climate resilience, digital enablement, private-sector participation and institutional capacity should be treated as cross-cutting requirements throughout the plan.

It further emphasised meaningful participation by young people, women, persons with disabilities, displaced persons and rural communities in programme design and implementation.

The communiqué was presented by Professor Mohammed B. Nuhu and adopted by participants on Tuesday, at the close of the summit in Abuja.

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NEWS

Experts Task Govt on Early Child Devt, Investment

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By Laide Akinboade, Abuja

Experts in Early Childhood Development (ECD), has identified strong coordination, evidence-based planning, adequate financing, effective implementation, and transparent monitoring of results, in order to address the challenges of out of school children in Nigeria.

This was agreed on during a consultation workshop with Civil Society Organisations and the media as part of the World Bank’s Early Childhood Development Inception Mission, in Abuja.

Among those who spoke at the occasion included World Bank Task Team Leader, Early Childhood, Dr.

Ritgak Tilley-Gyado, Dr. Oluwatosin Olorunmiteni, Neurodevelopment radiation, National Coordinator, Open Government Partnership, Dr. Gloria Ahmed.

The World Bank representative while doing her presentation urged the three tiers of government action to strengthen early childhood development in Nigeria, stressing that coordinated investment in the first five years of life is critical to improving the country’s human capital outcomes.

Tilley-Gyado said the scale of Nigeria’s child population made coordinated action urgent, noting that the country has about 38 million children under the age of five.

“What this agenda says is that the effort is to coalesce all of government horizontally across sectors, vertically across the four tiers of government,” she said.

According to her, investments in healthcare, nutrition, responsive caregiving, parenting, protection and early learning during the formative years could significantly influence children’s educational outcomes, lifetime earnings and eventual contribution to national productivity.

She said the greatest opportunity to improve Nigeria’s human capital lies with children in their early years because their physical growth, upbringing and development can still be significantly influenced through appropriate interventions.

“The flow is where the opportunity is, those that are born today, those that are still under age five, whose upbringing you can still influence, whose physical growth you can still influence,” Tilley-Gyado said.

She called for an all-of-society approach involving governments at all levels, development partners, civil society organisations, traditional and faith institutions, the private sector and communities.

The World Bank official also stressed the importance of social accountability, describing civil society organisations as a critical voice of citizens and an important mechanism for ensuring that government and development partners fulfil their commitments to child development.

She added that the initiative would prioritise disability inclusion, environmental safeguards and the protection of vulnerable populations as Nigeria strengthens its early childhood development interventions.

Speaking at the engagement, the National Coordinator, Open Government Partnership, Dr. Gloria Ahmed, described early childhood development as an investment in Nigeria’s human capital and future prosperity rather than merely a social intervention.

“Early childhood development is a critical foundation for the future of every nation. It is not merely a social intervention, it is an investment in human capital development and in the future prosperity of any nation,” she said.
Ahmed said effective early childhood development delivery required evidence-based planning, adequate financing, effective implementation and transparent monitoring.

She said open governance principles, including transparency, accountability, citizen participation and inclusive decision-making, were essential to ensuring effective implementation of programmes targeting children.

According to her, civil society organisations were strategically positioned to amplify the voices of parents, caregivers and children, monitor service delivery and expenditure, promote public awareness and hold institutions accountable for commitments made towards child development.

Dr. Oluwatosin, in her presentation, said, ECD is very critical foundation for the future of every nation.

She noted that ECD is not merely a social intervention; it is an investment in human capital development and in the future prosperity of any nation.

“ECD requires the collective commitment of government, development partners, civil society, communities, parents, caregivers, etc.

” It also requires strong coordination, evidence-based planning, adequate financing, effective implementation, and transparent monitoring of results”, she said.

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