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...
COMPANY PROFILE & OFFICIAL PUBLICATION FOR NEWS REPORTS, ACHIEVEMENTS, AND STRATEGIC PLANS
Company Name:
Edoshoe Manufacturing Company
Corporate Motto:
Crafting Quality, Empowering Communities.
About the Company:
Edoshoe Manufacturing Company is a leading Nigerian leather products manufacturing and training enterprise, committed to delivering high-quality shoes, sandals, bags, belts, wallets, and school accessories. With a mission to empower artisans, create jobs, and provide affordable yet premium products, Edoshoe has become a household name known for innovation, quality craftsmanship, and social impact.
Headquartered in Benin City, Nigeria, Edoshoe Manufacturing Company leverages local talent, raw materials, and innovative production processes to serve a growing domestic and export market. With more than 18 years of industry experience and a visionary leadership team, Edoshoe continues to champion sustainable business development and community transformation.
Key Achievements:
-
Free Leatherwork Product Distribution & Training Initiative (2024):
Edoshoe successfully launched a national campaign to distribute thousands of free leather products to low-income families across Nigeria while offering free skills training to young artisans. The initiative is fully self-funded with emerging sponsorship opportunities. -
Shoe4Kids Program:
A social intervention program that provides free school shoes, lunch boxes, and bags to children in underserved communities. Over 5,000 students have benefited so far, with an annual target of 50,000 nationwide. -
Edoshoe Skills Development Academy:
The company established a training arm with cluster centers across Benin City, offering 3-month intensive programs in leatherwork. Over 1,000 trainees have graduated, many now employed or running their own businesses. -
Strategic Partnership with Hybridteck Global Business Consult:
Edoshoe has partnered with Hybridteck to create artisan business incubators and access financial tools, marketing support, and nationwide visibility. -
Leadership Recognition:
The company’s founder and CEO, Osemwengie Victor Odion, is currently contesting as the National Vice Chairman of NALPAN and has received national and international awards, including The Future Awards Africa and the Global Student Entrepreneurship Award.
Strategic Goals & Future Plans (2025–2030):
-
Mass Production Expansion:
A strategic investment of ₦42 million is underway to increase factory capacity, acquire new machines, and maximize product output by 300%. -
Fashion Department Development:
₦15 million is earmarked for building an in-house fashion line to complement leather products with apparel and accessories. -
Nationwide Cluster Market Establishment:
Edoshoe plans to establish five new leather cluster centers in Edo State and extend to 10 more states by 2027. These centers will serve as local factories and training schools. -
Export Development Strategy:
The company is preparing to penetrate the West African and EU markets by acquiring export certification, quality standard approvals, and participating in international expos. -
Crowdfunding & Community Ownership Model:
Through partnerships with Hybridteck’s Artisan Funding Program, Edoshoe will allow the public to invest and earn from its leather products distribution and training program. -
Sponsorship Drive:
The company is actively seeking public and private sector sponsors to scale its Shoe4Kids initiative and skills development centers to reach 100,000+ beneficiaries annually.
News Report Summary (for Media Use):
Edoshoe Manufacturing Company Expands Social Impact, Production, and Training Capacity
Edoshoe Manufacturing Company has announced a major expansion and strategic plan to scale its nationwide leatherwork initiatives. Known for its Shoe4Kids program and intensive training for artisans, the company is set to invest over ₦57 million in increasing production and launching a fashion department. This move is expected to create over 500 new jobs and expand the company's outreach to millions of Nigerians by 2030.
The CEO, Osemwengie Victor Odion, reaffirmed the company's commitment to youth empowerment and product excellence. “We are not just making shoes; we are creating futures,” he said. The company is inviting local and international sponsors to join this transformative journey.
Contact Details:
Hybridteck News.
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08077552165
Hybridteckedu@gmail.com
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