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FAAC Gives FG, 36 States, 774 Councils N2.001trn from July 2025 Earnings

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faac allocation

By Aduragbemi Omiyale

The sum of N2.001 trillion has been disbursed to the federal government, the 36 state governments, and the 774 local councils as allocation for August 2025 from the N3.836 trillion generated by the nation in July 2025.

The N2.001 trillion distributed to the three tiers of government comprised statutory revenue of N1.282 trillion, Value Added Tax (VAT) of N640.610 billion, N37.601 billion from Electronic Money Transfer Levy (EMTL), and N39.745 billion from exchange difference.

It was shared to the parties at the Federation Account Allocation Committee (FAAC) meeting for August held in Abuja.

The gathering, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, had in attendance the Commissioners for Finance of the sub-nationals and others.

Business Post reports that Petroleum Profit Tax (PPT), excise duty, Electronic Money Transfer Levy (EMTL), and oil and gas royalty increased significantly, while Value Added Tax (VAT) and import duty increased marginally, as Company Income Tax (CIT) and CET levies decreased.

From the N3.836 trillion earned by the country, N152.681 billion was deducted for the cost of collection, and N1.683 trillion allocated for transfers intervention and refunds.

In a statement issued at the end of the meeting, it was disclosed that funds comprised gross statutory revenue, VAT, EMTL, and exchange difference, with the central government getting N735.081 billion, the states receiving N660.349 billion, the local government councils getting N485.039 billion, and the oil producing states going with N120.359 billion as their 13 per cent derivation mineral revenue.

It was disclosed that the gross revenue available from VAT was N687.940 billion compared with the N678.165 billion distributed in the preceding month, resulting in an increase of N9.775 billion.

From that amount, the sum of N27.517 billion was allocated for the cost of collection and N19.813 billion given for transfers, intervention and refunds.

The remaining sum of N640.610 billion was distributed to the three tiers of government, of which the federal government got N96.092 billion, the states received N320.305 billion and local government councils got N224.214 billion.

Accordingly, the gross statutory revenue of N3.070 trillion received for the month was lower than the sum of N3.485 trillion received in the previous month by N415.108 billion.

From the stated amount, the sum of N123.597 billion was allocated for the cost of collection and a total of N1.663 trillion for transfers, intervention and refunds.

The remaining balance of N1.282 trillion was distributed by the three tiers of government, with the federal government getting N613.805 billion, states receiving N311.330 billion, the councils receiving N240.023 billion and the oil producing states getting N117.714 billion as derivation revenue.

Also, the sum of N39.168 billion from EMTL was distributed this month as the national government took N5.640 billion, states got N18.801 billion, and local councils received N13.160 billion, while N1.567 billion was allocated for cost of collection.

Further, N39.745 billion from exchange difference was shared with the federal government going with N19.544 billion, the states getting N9.913 billion, the councils receiving N7.643 billion, and the oil producing states getting N2.645 billion.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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Pastor Ogbueli’s Abuja Night of Glory Holds Today

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Abuja Night of Glory

By Blaise Udunze

Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.

The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.

The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.

Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.

Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.

The event is intended for all individuals trusting God for divine intervention in any area of life.

Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.

Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.

Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.

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Rivers Speaker, 15 Other Lawmakers Leave PDP for APC

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rivers speaker Martin Amaewhule defect

By Modupe Gbadeyanka

The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).

At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.

This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.

The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.

This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.

A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.

Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.

It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.

Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.

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Nigeria Risks Brain Drain in Energy Sector—PENGASSAN

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energy sector

By Adedapo Adesanya

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.

The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.

Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.

“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.

According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.

“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.

He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.

Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.

He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.

“This industry recruits the best. Companies must provide the best conditions,” he said.

On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.

“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.

He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.

Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.

He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.

“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.

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