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FG, States, LGs Share N651.2bn from June Revenue

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By Modupe Gbadeyanka

The sum of N651.184 billion (approx. N651.2 billion), which was from the revenue generated by the country in June 2020, was shared among the federal government, the 36 state governments, the 774,000 local government areas of the federations and relevant agencies.

The money was disbursed to the three tiers of government by the Federation Accounts Allocation Committee (FAAC).

A statement issued by the Director of Information, Press and Public Relations at the Office of the Accountant General of the Federation (AGF), Henshaw Ogubike, stated that from the total revenue, the federal government received N266.131 billion, the state governments received N185.774 billion, while the local councils got N138.974 billion.

In addition, the oil producing states received N28.496 billion as 13 per cent derivation revenue, N76.809 billion was given to revenue/relevant agencies.

According to the statement, from the gross statutory revenue, the federal government received N227.584 billion, the states got N115.434 billion, while the councils got N88.995 billion, with N24.722 billion shared to the relevant states as 13 per cent derivation revenue.

Also, from the revenue generated from value added tax (VAT), the federal government got N17.971 billion, the states received N59.904 billion, while the councils received N41.933 billion, with the revenue/relevant agencies getting N5.153 billion as cost of collection and N3.865 billion transferred to NEDC, totalling N9.018 billion

The statement further confirmed that the federal government received N20.576 billion, the states received N10.436 billion, the councils received N8.046 billion and the oil producing states received N3.774 billion from the Exchange Gain revenue.

It was stated that at the monthly FAAC meeting for July 2020 held through virtual conferencing and chaired by the AGF, Mr Ahmed Idris, it was announced that the revenue from June comprised a gross statutory revenue of N524.526 billion, a VAT of N128.826 billion, and N42.832 billion from exchange gain.

In the statement, it was gathered that the sum of N45 billion was saved in the excess non-oil revenue account, while the balance in the Excess Crude Account (ECA) as at July 16, 2020 stood at $72.407 million.

According to the statement, in the month of June 2020, there were significant increases in import and excise duty, VAT, companies income tax, oil and gas royalty, while revenue from petroleum profit tax declined.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Nigeria Eyes Stronger Diplomatic Ties in Sustainable Development

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By Adedapo Adesanya

Nigeria is eyeing stronger diplomatic and strategic ties when it comes to sustainable development as it participates in the 2026 edition of Abu Dhabi Sustainability Week (ADSW).

President Bola Tinubu arrived in Abu Dhabi, United Arab Emirates (UAE), on Sunday. His plane landed at the Presidential Wing of Zayed International Airport at exactly 11:30 pm local time.

He was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs; the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi; Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar; and members of the Nigerian diplomatic mission in Abu Dhabi.

Several other ministers, including the Minister of Budget and Planning, Mr Atiku Bagudu; the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; and the Director-General of the National Intelligence Agency, Mr Mohammed Mohammed, welcomed President Tinubu at his hotel.

President Tinubu arrived in Abu Dhabi from Europe, where he spent part of his end-of-year break, engaging in fruitful discussions with Rwandan President Paul Kagame and French President Emmanuel Macron, according to a statement by the presidency.

The 2026 Abu Dhabi Sustainability Week, with the theme The Nexus of Next, All Systems Go, is a global platform that brings together world leaders, policymakers, investors, and experts to advance dialogue and action on sustainable development, climate action, energy transition, and inclusive economic growth.

This visit further reinforces the strong diplomatic and economic ties between Nigeria and the United Arab Emirates (UAE), while positioning Nigeria as an active contributor to global conversations on sustainable development.

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SERAP in Court to Force INEC to Account for N55.9bn for 2019 Elections

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By Modupe Gbadeyanka

The failure of the Independent National Electoral Commission (INEC) to account for about N55.9 billion earmarked for the purchase of some materials for the 2019 general elections has forced the Socio-Economic Rights and Accountability Project (SERAP) to file a lawsuit against the commission.

In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP asked the court for an order of mandamus to compel INEC to disclose the names of all contractors paid the sum of money.

It was claimed that the N55.9 billion was meant for the purchase of smart card readers, ballot papers, result sheets and other election materials for the 2019 general elections, which produced the late Mr Muhammadu Buhari as President for a second term in office.

SERAP is relying on the latest annual report published by the Auditor-General on September 9, 2025, to ask for the use of the funds, which is said to be missing or diverted.

The organisation argued that the electoral umpire “must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”

“INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered,” a part of the statement issued by the group stated.

“INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.

“These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law,” it further declared.

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Finance Ministry Directs Shippers, Airlines to Submit Manifests via Single Window Project

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NLNG Shipping Arm

By Adedapo Adesanya

The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.

The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.

However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.

“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.

The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.

“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.

“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.

“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.

The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.

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