News
FAAC Shares N786bn To FG, States, LGs
Published
2 years agoon
By
Editor
The Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion to the federal, state a d Local Governments.
It represented their share from the May 2023 Federation Account Revenue, according to the communiqué issued at the end of the FAAC meeting in Abuja, yesterday.
The meeting was chaired by the new Accountant-General of the Federation, Dr. Oluwatoyin Madein, according to the Director, Press and Public Relations, Mr. Bawa Mokwa.
The N786.161 billion total distributable revenue comprised distributable statutory revenue of N519.545 billion, distributable Value Added Tax (VAT) revenue of N251.607 billion, Electronic Money Transfer Levy (EMTL) of N14.370 billion, and Exchange Difference revenue of N0.639 billion.
READ ALSO: FG, Others Share N2.84trn In FAAC
A total of N38.238 billion was deducted as cost of collection, usually paid to the revenue generating agencies, while statutory transfers took another N163.193 billion.
The balance in the Excess Crude Account (ECA) was $473,754.57
The communiqué indicated that from the total distributable revenue of N786.161 billion; the Federal Government received N301.889 billion, the State Governments received N265.875 billion and the Local Government Councils received N195.541 billion.
A total of N22.855 billion was shared to the oil producing tates as 13% derivation revenue.
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Gross statutory revenue of N701.787 billion was received for the month of May 2023. This was higher than the sum of N497.463 billion received in the previous month by N204.324 billion.
From the N519.545 billion distributable statutory revenue, the Federal Government received N261.686 billion, the State Governments received N132.731 billion and the Local Government Councils received N102.330 billion. The sum of N22.798 billion was shared to the relevant States as 13% derivation revenue.
For the month of May 2023, the gross revenue available from the Value Added Tax (VAT) was N270.197 billion.
This was higher than the N217.743 billion available in the month of April 2023 by N52.454 billion.
The Federal Government received N37.741 billion, the State Governments received N125.804 billion and the Local Government Councils received N88.062 billion from the N251.607 billion distributable Value Added Tax (VAT) revenue.
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The N14.370 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.155 billion, the State Governments received N7.185 billion and the Local Government Councils received N5.030 billion.
From the N0.639 billion Exchange Difference revenue, the Federal Government received N0.307 billion, the State Governments received N0.156 billion, the Local Government Councils received N0.119 billion and the sum of N0.057 billion was shared to the relevant States as 13 percent mineral revenue.
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News
FG Predicts Heavy Rainfall, Flood In Seven States
Published
7 hours agoon
August 23, 2025By
Editor
The Federal Ministry of Environment on Saturday predicted possible flooding in seven states and 25 locations across Nigeria.
The ministry, in its flood alert warned that heavy rainfall expected between August 23 and 24 could lead to flooding in the listed areas.
The alert was signed by the Director of the Erosion, Flood and Coastal Zone Management Department, Usman Bokani.
He further directed residents of communities along the flood plain from Jebba to Lokoja to evacuate immediately as the River Niger’s water level continues to rise.
READ ALSO:NiMet Predicts 3-day Thunderstorms, Rains
“Due to the rise in the water level of River Niger, communities on the flood plain from Jebba to Lokoja are advised to evacuate,” he said.
The states and communities expected to be affected include Benue State (Abinsi, Agyo, Gbajimba, Gogo, Makurdi, Mbapa, Otobi, Otukpo, Udoma, Ukpiam); Borno State (Briyel, Dikwa, MaiduKamba; Gombe State (Bajoga, Dogon Ruwa, Gombe, Nafada); Kebbi State (Gwandu, Jega, Kamba); Nasarawa State (Agima, Keana, Keffi, Odogbo, Rukubi); Niger State (Lapai); and Yobe State (Gashua, Gasma, Potiskum).
On Friday, the National Emergency Management Agency urged residents in high-risk flood plains to evacuate to safer and higher grounds.
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The states at high risk according to the agency are Kebbi, Niger, Kwara states that share borders with Benin Republic.
This was disclosed in a press statement signed by the agency’s Head of Press Unit, Manzo Ezekiel.
The Director General of NEMA, Mrs. Zubaida Umar, also directed all NEMA offices covering communities along the River Niger to intensify advocacy and mobilization for flood preparedness following alerts of rising water levels in the upstream of the river in the Republic of Benin.
READ ALSO:NiMet Predicts 3-day Rains, Thunderstorms Across Nigeria From Sunday
“In an urgent directive conveyed to the operations offices, Mrs. Zubaida Umar instructed them to sensitize communities to remain vigilant and advise residents in high-risk flood plains to evacuate to safer, higher grounds, especially those in Kebbi, Niger and Kwara states that share borders with Benin Republic.
“She further urged the State Governments of the identified high-risk areas to support their Emergency Management Agencies (SEMAs) and Local Emergency Management Committees (LEMCs) in activating contingency plans and preparedness measures to mitigate the potential impact of this year’s flooding.
“The Director General reaffirmed NEMA’s commitment to ensuring coordinated actions to safeguard lives and livelihoods along the River Niger,” the statement noted.
News
‘Court Of Corruption’ — Obasanjo Knocks INEC Chairman, Judiciary In New Book
Published
7 hours agoon
August 23, 2025By
Editor
Former President Olusegun Obasanjo has criticised the Nigerian judiciary, saying it has been “deeply compromised” and that corruption among judges has turned courts into “a court of corruption rather than a court of justice.”
In his new book, Nigeria: Past and Future, Obasanjo laments the steady decline of the Nigerian judiciary’s integrity, warning that justice has become commodified in Nigeria.
“The reputation of the Nigerian judiciary has steadily gone down from the four eras up till today. The rapidity of the precipitous fall, particularly in the Fourth Republic, is lamentable,” Obasanjo wrote.
He expressed concern that the judiciary’s decline poses a significant threat to the nation’s stability.
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Obasanjo recounted an incident where a governor showed him six duplex buildings belonging to a judge who allegedly acquired them from money made as chairman of election tribunals. This anecdote, he said, illustrates the depth of corruption in the judiciary.
The former president also accused Mahmood Yakubu, INEC chairman, of undermining the electoral process since 2015.
“No wonder politicians do not put much confidence in an election which the INEC of Professor Mahmood Yakubu polluted and grossly undermined to make a charade,” he said.
Obasanjo further alleged that politicians believe the outcome of election disputes depends on the will of tribunal judges, court of appeal judges, and supreme court judges.
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“No matter what the will of the people may be, the Chairman of INEC since after the 2015 election had made his will greater and more important than the will of the people,” he added.
Moreover, Obasanjo directly accused the late former President Muhammadu Buhari of colluding with the judiciary during his election cases.
“Buhari threw caution to the wind, no matter what had transpired between him and the judges who did his bidding. In his election cases, financially, he topped it up with appointments for them no matter their age and their ranks,” Obasanjo alleged.
The former president concluded that the current state of the judiciary and electoral system in Nigeria is alarming, saying, “After a false declaration of results, making losers winners and winners losers, the victim of the cheating is advised to go to court, which is a court of corruption rather than a court of justice.“

Lagos State Governor, Sanwo-Olu, on Saturday inaugurated a state-of-the-art leather processing and manufacturing hub in Mushin, projected to create 10,000 direct jobs and generate over $250 million in annual export turnover when fully operational.
In a press release sent to PUNCH Online, the governor said the facility was formally inaugurated on Saturday by the First Lady, Senator Oluremi Tinubu, during her three-day official visit to Lagos.
He added that the hub was named in her honour to recognise her grassroots initiatives in social investment and economic empowerment, with 70 per cent of its employment slots reserved for women and youths.
The hub is equipped with modern machinery to support Nano, Micro, Small, and Medium Enterprises (NMSMEs), enabling mass production of shoes, bags, belts, packaging materials, and other leather products.
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It is designed to ease production bottlenecks, scale operations, and position Lagos as the leather logistics capital of West Africa.
Speaking at the inauguration, Tinubu described the hub as a “trailblazing project” aligned with President Bola Tinubu’s Renewed Hope Agenda to diversify Nigeria’s economy through industrialisation, manufacturing, and innovation.
The Lagos State Leather Hub in Mushin, formally commissioned by the First Lady of Nigeria, Senator Oluremi Tinubu, on Saturday, 23 August 2025.
“Leatherwork is a traditional craft that has stood the test of time. This facility will empower artisans, scale up leather goods production, and enable them to compete confidently in both local and international markets,” she said, urging entrepreneurs to dedicate themselves to excellence and continuous learning.
Sanwo-Olu said the project would provide training and start-up support to over 150,000 artisans, boost the local economy, attract investments, and strengthen trade links with fashion districts, e-commerce platforms, and future rail services.
READ ALSO:Sanwo-Olu Unveils Bus Terminal, Slashes Red Line Fares By 30%
“Hides and skins that once left our shores unprocessed will now be transformed here in Lagos into world-class footwear, garments, and accessories proudly stamped ‘Made in Lagos, Made in Nigeria’,” the governor said.
He pledged to expand the facility through transparent regulation and continuous infrastructure upgrades, adding: “True dividends of democracy are best felt when they reach the cobbler in Mushin, the tanner in Oko-Oba, and the young fashion designer in Yaba.”
Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, said the hub would lower production costs and raise quality standards, positioning Lagos-made leather products for dominance in both local and export markets.
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