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...
📣 When BUA Group Rewarded 510 Employees with N30 Billion 💰
A Landmark Recognition of Loyalty, Excellence & Shared Success
Lagos, Nigeria – In a remarkable demonstration of appreciation and corporate leadership, BUA Group recently rewarded 510 of its long-serving employees with a combined N30 billion in cash awards at its 2025 Night of Excellence and Long Service Awards — one of the most significant employee recognition initiatives ever undertaken by a Nigerian private-sector company. (BizWatchNigeria.Ng)
The gala event celebrated staff members whose years of service span from five years to over four decades, highlighting the enduring contributions of individuals who have helped build BUA Group’s success story across its diverse businesses in cement, food, sugar, real estate, logistics, and infrastructure. (BizWatchNigeria.Ng)
🎉 Recognizing Commitment and Impact
Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, described the awards ceremony as a moment to honour loyalty, resilience, and shared ownership of the company’s growth journey. He reflected on the Group’s evolution from modest beginnings to becoming one of Nigeria’s most valuable listed enterprises, stressing that the achievement was the result of collective commitment, not just capital or leadership alone. (BizWatchNigeria.Ng)
🏆 Award Categories and Highlights
The N30 billion award pool was distributed across multiple excellence and long-service categories:
💵 Five employees received ₦1 billion each.
💰 Several others received awards ranging from ₦100 million to ₦500 million.
🎖️ One special award, presented to Kabiru Rabiu, recognised exceptional leadership and long-standing contributions to the Group.
📜 Due to time constraints, only 41 top recipients received their awards on stage; the rest received theirs at their respective work locations nationwide. (BizWatchNigeria.Ng)
Rabiu emphasised that while no amount of money can fully compensate for decades of dedication and personal sacrifice, the awards are a tangible symbol of gratitude and respect for the people who have been instrumental to the company’s success. (BizWatchNigeria.Ng)
🌟 Beyond the Ceremony
The Night of Excellence and Long Service Awards is part of BUA Group’s cultural backbone — a corporate tradition rooted in shared prosperity, long-term thinking, and deep respect for employees. The event was attended by distinguished captains of industry, government leaders, partners, and well-wishers, reinforcing the broader impact of BUA’s people-centred approach to business. (BizWatchNigeria.Ng)
📈 A Culture of Recognition
This landmark initiative not only boosts morale and employee loyalty but also sets a new benchmark for workforce appreciation in Nigeria’s private sector. It underscores BUA Group’s belief that enduring businesses are built by people — a philosophy that continues to guide the organisation’s growth and long-term vision. (BizWatchNigeria.Ng)
🌟 BUA Group’s recognition of its workforce illustrates the power of valuing people — turning loyalty into long-lasting legacy and success.
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