News
BREAKING: FG, State, Local Governments Share N2.001trn July Revenue

The three tiers of Nigerian government, federal, state, and local government councils, have shared the total of N2.001 trillion, being the July 2025 Federation Account Revenue.
The revenue was shared at the August 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The N2.001 trillion total distributable revenue comprised distributable statutory revenue of N1,282.872 trillion, distributable Value Added Tax (VAT) revenue of N640.610 billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601 billion, and Exchange Difference of N39.745 billion.
According to the communiqué made available to DAILY POST on Friday by the spokesperson for the Office of the Accountant General of the Federation, Bawa Mokwa, the gross statutory revenue of N3,070.127 trillion was received for the month of July 2025. This was lower than the sum of N3,485.235 trillion received in the month of June 2025 by N415.108 billion.
READ ALSO:FAAC: FG, States, LGs Share N1.681trn April 2025 Revenue
According to the communiqué made available to DAILY POST by the spokesperson for the Office of the Accountant General of the Federation, gross statutory revenue of N3,070.127 trillion was received for the month of July 2025. This was lower than the sum of N3,485.235 trillion received in the month of June 2025 by N415.108 billion.
Gross revenue of N687.940 billion was available from the Value Added Tax (VAT) in July 2025. This was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.
The communiqué stated that from the N2,000.828 trillion total distributable revenue, the Federal Government received a total sum of N735.081 billion and the State Governments received a total sum of N660.349 billion.
The local government council received N485.039 billion, while the sum of N120.359 billion (13% of mineral revenue) was shared with the benefiting state as derivation revenue.
READ ALSO:Nigeria’s Revenue Drops N194.6bn In February – FAAC
On the N1,282.872 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N613.805 billion and the State Governments received N311.330 billion.
The Local Government Councils received N240.023 billion, and the sum of N117.714 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
From the N640.610 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N96.092 billion, the State Governments received N320.305 billion, and the Local Government Councils received N224.214 billion.
A total sum of N5.640 billion was received by the Federal Government from the N37.601 billion. The State Governments received N18.801 billion, and the Local Government Councils received N13.160 billion.
READ ALSO:Over 60 Face Prosecution In UK For Supporting Banned Pro-Palestine Group
From the N39.745 billion exchange difference, the communiqué stated that the federal government received N19.544 billion and the state governments received N9.913 billion.
The Local Government Councils received N7.643 billion, while the sum of N2.643 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
In July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), and Excise Duty increased significantly, while Value Added Tax (VAT) and import duty increased marginally.
Companies Income Tax (CIT) and CET levies recorded decreases.
News
BREAKING: Anthony Joshua Involved In Road Accident

A renowned global boxer Anthony Joshua has been involved in a road accident on Monday in Makun, Ogun State.
The was said to have occurred along a busy highway of the Lagos-Ibadan expressway.
The vehicle carrying Joshua reportedly collided with another car under circumstances that are still being investigated.
READ ALSO:Another Accident On Otedola Bridge Causes Fresh Traffic Disruption In Lagos
The said I said to have sustained minor injuries, saying that two people died on the spot.
Meanwhile, fans have flooded social media with messages of concern, while local authorities continue to investigate the cause of the crash.
News
Ex-Edo Gov Obaseki Reacts As His Cousin Is Beaten, Stripped

The immediate past governor of Edo State, Godwin Obaseki, has reacted to the attack on Don Pedro Obaseki, the Chief Executive Officer of Osamudia Farms.
Don Pedro Obaseki, a cousin to the immediate past governor was attacked at Uwa Primary School where he went to play football.
In a viral video, Pedro Obaseki is seen kneeling at the Oba of Benin Palace gate, before he was dragged into the palace where he was asked to crawl before some chief walked up to the scene and rescued him.
Reacting, the ex-Edo governor described the act as a “grave violation of fundamental human rights and a reckless disregard for the rule of law.”
READ ALSO: Obaseki Beaten, Stripped In Edo
Obaseki, said: “I call on security agencies to immediately investigate this matter thoroughly and transparently, identify those responsible for this barbaric act and ensure they are held accountable in accordance with the law.
“A situation where thugs and non-state actors appear to freely take the law into their own hands on behalf of high-profile individuals and those in positions of authority can only result in one outcome, a degeneration into a state of anarchy, which will do no one no good.”
He further charged, “I urge human rights organizations, civil society groups, and all well-meaning Nigerians to lend their voices and speak out firmly against this injustice and gross violation of human rights.”
News
New Tax Laws: Suspend January 2026 Implementation — Senator Ndume Tells Tinubu

Former Senate Leader, Ali Ndume has appealed to President Bola Ahmed Tinubu to suspend the January 1, 2026, implementation of the country’s new tax laws amid growing controversy.
The federal lawmaker made the appeal in a statement he issued on Wednesday in Abuja.
This comes as the Nigerian Bar Association demanded the suspension of the implementation.
Recall that a member of the House of Representatives, Abdussamad Dasuki, had last week called the Parliament’s attention to alleged alteration to the tax laws.
READ ALSO:FIRS Confirms NIN As Tax ID
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, in an interview on Arise Television on Wednesday, called for calm over claims of alterations in tax laws and urged Nigerians to allow lawmakers to complete their investigation before drawing conclusions.
Speaking on the ongoing controversy about the tax laws, Ndume noted that proceeding with the implementation without getting to the root of the alleged forgery will create a legitimacy challenge for the tax laws.
His statement read, “With the controversy surrounding it, the President should constitute a team to verify the veracity of the claim and act accordingly.
“As the responsive leader that he has always been, he should look at it to find out if the copy that was signed and the claim of alterations are genuine so that he will do the needful to bring the controversy to rest.
READ ALSO:US Threatens To Sanction Countries That Vote For Shipping Carbon Tax
“If not, the controversy will continue.” That is to say, the tax law will not be implemented, because you can’t build on nothing.
“So, Mr. President should suspend the implementation until the issues are resolved because so many civil society organizations, the Arewa Community, and the Nigerian Bar Association are saying that he should withdraw the tax law and investigate the allegation of forgery.”
“Therefore, Mr President should get to the root of the allegation of forgery. The small committee that will be set up should look into it while the House of Representatives does its own.”
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