FAAC: Three Tiers of Government Share ₦2.550 Trillion as June 2026 Revenue; States and LGAs Receive Over ₦1.36 Trillion The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.551 trillion as Federation Account revenue for June 2026 to the Federal Government, the 36 state governments, and the 774 Local Government Councils across Nigeria. The allocation was approved during the FAAC meeting held in July 2026 in Abuja and chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy. The meeting was attended by the Accountant-General of the Federation, State Commissioners of Finance, and other members of the committee. ( FMINFO ) Breakdown of the Revenue Distribution The total distributable revenue of ₦2.551 trillion comprised: ₦1.810 trillion from Statutory Revenue. ₦740.724 billion from Value Added Tax (VAT). ( FMINFO ) Statutory Revenue Allocation From the statutory revenue: Federal Government: ₦849.366 billion State Govern...
Asue Ighodalo and Bar. Osarodion Ogie have announced significant plans to invest in sustainable agriculture, reduce post-harvest losses, and develop the Benin Enterprise Park and Benin Port Project. These initiatives aim to revolutionize the economy of Edo State
Asue Ighodalo and Bar. Osarodion Ogie have announced significant plans to invest in sustainable agriculture, reduce post-harvest losses, and develop the Benin Enterprise Park and Benin Port Project. These initiatives aim to revolutionize the economy of Edo State.
Key Initiatives:
1. **Sustainable Agriculture and Post-Harvest Loss Reduction:**
- Investment in modern farming techniques and sustainable practices.
- Implementation of advanced storage and transportation solutions to reduce post-harvest losses.
- Support for local farmers through training and access to better resources.
- These efforts are expected to increase agricultural productivity and ensure food security in the state.
2. **Benin Enterprise Park:**
- Development of a state-of-the-art enterprise park to attract businesses and industries.
- Provision of infrastructure and facilities to support manufacturing, technology, and other sectors.
- Creation of a business-friendly environment to foster innovation and entrepreneurship.
- This project is anticipated to draw significant investment and stimulate economic growth.
3. **Benin Port Project:**
- Construction of a modern port to enhance the state's transportation and logistics capabilities.
- Improvement of import and export activities, making Edo a strategic trade hub.
- Boost to the local economy through increased trade volumes and related business opportunities.
- The port project aims to position Edo as a key player in regional and international trade.
### Economic Impact:
- **Job Creation:** These projects are expected to generate thousands of jobs, ranging from construction and agricultural work to positions in new businesses and industries.
- **Economic Growth:** By attracting investment and improving infrastructure, these initiatives will contribute to the overall economic development of Edo State.
- **Positioning as an Economic Hub:** With improved agricultural productivity, better infrastructure, and enhanced trade capabilities, Edo is set to become a major economic hub in the region.
These comprehensive initiatives spearheaded by Asue Ighodalo and Bar. Osarodion Ogie demonstrate a strong commitment to transforming Edo State's economy, providing sustainable development, and improving the livelihoods of its residents.
Comments
Post a Comment