Connect with us

News

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

Published

on

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.

Advertisement

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

Advertisement

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.

Advertisement

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.

Advertisement

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.

Advertisement

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.

Advertisement

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.

 

Advertisement

News

PHOTOS: Brazil Welcomes Tinubu With Full Military Honours In Brasília

Published

on

By

Brazil on Monday rolled out full military honours at the Planalto Palace in Brasília to receive President Bola Tinubu.

Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this on X on Monday.

Advertisement

READ ALSO:Tinubu Signs Direct Flight, Other Agreements With Brazil

Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.

Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.

Advertisement

He wrote, “More photos of the official reception for President Tinubu at the Planalto Palace in Brasília, Monday, August 25, 2025. Brazil’s President Luiz Inácio Lula da Silva welcomed President Bola Tinubu with full military honours.”

Advertisement
Continue Reading

News

Tinubu Signs Direct Flight, Other Agreements With Brazil

Published

on

By

President Bola Ahmed Tinubu has signed a landmark Bilateral Air Service Agreement with Brazil, signalling the establishment of direct air links between Nigeria and South America’s largest economy.

The agreement was formalised on Monday during Tinubu’s official state visit to Brasília.

Advertisement

Media aide to the minister, Tunde Moshood, made this known through a statement, made available to The PUNCH.

At the signing ceremony which was witnessed by Messrs Nigerian President, Tinubu and the Brazilian President Luiz Inácio Lula da Silva in Brasilia also had the Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed the agreement on behalf of Nigeria, while Brazil’s Minister of Transport, Silvio Costa Filho, also signed for the host country.

READ ALSO:2027: You Will Lose 80% Of Northern Muslim Votes If…, APC Forum Warns Tinubu

Advertisement

The BASA creates a new framework for direct flights between Nigeria and Brazil, with the potential to significantly enhance trade, tourism, investment, and diplomatic relations.

The statement further noted that, “ It also marks a key step in Nigeria’s broader efforts to strengthen international partnerships and improve global connectivity.”

Tinubu had arrived in Brazil with a delegation that included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Agriculture and Food Security, Abubakar Kyari; and other senior government officials.

Advertisement

According to the statement, the Brazilian President welcomed the agreement, expressing his administration’s commitment to expanding cooperation with Nigeria in sectors such as aviation, agriculture, and infrastructure.

READ ALSO:Monarch’s Suspension Sparks Crisis In Delta

He described the BASA as a reflection of the strong ties between both countries and an opportunity to deepen economic and cultural collaboration.

Advertisement

Tinubu is also scheduled to hold meetings with key Brazilian government officials, including the President of the Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

The two-day visit will include high-level discussions between Nigerian and Brazilian delegations across various sectors, as both nations explore opportunities for mutual growth and development.

The statement reads, “The ongoing state visit will also see President Tinubu meeting the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

Advertisement

“The working visit, which continues tomorrow, will also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.”

Advertisement
Continue Reading

News

NAFDAC Warns Of Fake Postinor-2 In Circulation

Published

on

By

The National Agency for Food and Drug Administration and Control on Monday issued a public alert, warning the public about confirmed counterfeit batches of Postinor-2 (Levonorgestrel 0.75 mg) now circulating in Nigeria.

The alert follows a report from the Society for Family Health, the marketing authorisation holder, confirming that they did not import the suspect batches.

Advertisement

Postinor-2 (Levonorgestrel 0.75mg) is a brand of emergency contraceptive pill containing the active ingredient levonorgestrel.

NAFDAC revealed there are noticeable labelling discrepancies between the authentic and fake products.

READ ALSO:NAFDAC Warns On Recalled U.S. Supplements

Advertisement

It said, “The National Agency for Food and Drug Administration and Control (NAFDAC) hereby notifies the public of falsified Type 1 and 2 batches of POSTINOR 2 (Levonorgestrel 0.75mg) product in circulation.

“The noticeable difference was found to be as follows: The font size of the text on the pin verification sticker appears smaller and has a wrong spelling of the word Veify instead of Verify on the fake; meanwhile, the text font on the sticker of the original appears bigger and more visible. There is also a wrong spelling behind the pack of the fake “Distnibuted in Nigeria” instead of distributed in Nigeria”, NAFDAC said.

NAFDAC identified the original Postinor-2 as batch T32458H, manufactured in February 2023 with an expiry date of February 2027 and registration number 04-6985.

Advertisement

READ ALSO:NAFDAC Uncovers Warehouse Loaded With Explosive Chemicals In Kano

The agency, however, confirmed two falsified versions: Counterfeit Product (Type 1), batch T36184B, manufactured in August 2024 with an expiry date of August 2028; and Counterfeit Product (Type 2), batch 332, manufactured in March 2023 with an expiry date of February 2027, both carrying the registration number 04-6985.

It said that due to the potential presence of incorrect, substandard, or harmful ingredients, improper dosages of levonorgestrel, and a lack of sterile manufacturing conditions, poses significant risks to individual health and public safety.

Advertisement

The risks of administering falsified Postinor 2 (Levonorgestrel 0.75mg) include failure of contraceptive effect, toxic or harmful contaminants, unpredictable side effects, delayed or missed opportunity for genuine emergency contraception, and potential long-term reproductive health impact. Unexpected side effects: Unknown substances can trigger allergic reactions, organ damage, or death.

“Counterfeit medicines are unregulated, untested, and illegal, making their safety and efficacy impossible to guarantee. Patients should only obtain Postinor-2 from verified pharmacies or licensed healthcare providers.

READ ALSO:NAFDAC Warns Against VDM’s Inciting Video

Advertisement

Although Investigations are still ongoing regarding the source of the falsified product, all NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the falsified product of type 1 and 2 postinor 2 (Levonorgestrel 0.75mg) within the zones and states,” it added.

NAFDAC urged consumers and healthcare providers to verify PIN stickers carefully, report suspected counterfeit products, and always purchase medications from reputable sources.

Advertisement
Continue Reading

Trending

Exit mobile version