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...
PRESS RELEASE FG Targets 70,000 Youths for Market-Driven Skills Training Under IDEAS-TVET Programme The Federal Government of Nigeria has reaffirmed its commitment to reducing unemployment and strengthening the nation's workforce by targeting 70,000 Nigerian youths for market-driven skills training under the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Technical and Vocational Education and Training (TVET) Programme . The initiative is designed to equip young Nigerians with practical, industry-relevant skills that meet current labour market demands while promoting entrepreneurship, innovation, and self-reliance. Through the programme, beneficiaries will receive competency-based training in various technical and vocational trades, enabling them to secure employment, establish sustainable businesses, and contribute to national economic development. The IDEAS-TVET Programme focuses on enhancing the quality and accessibility of technical an...

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