News

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

Published

9 months ago

August 22, 2025

Editor

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.

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.

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.

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

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

55 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

1 hour ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.