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...
Call for Applications: DBN Entrepreneurship Training Program 2026 for MSMEs (₦8.5 Million Grants Available)
Call for Applications: DBN Entrepreneurship Training Program 2026 for MSMEs (₦8.5 Million Grants Available) Publication Date: January 31, 2026 The Development Bank of Nigeria (DBN) has officially opened applications for the 2026 DBN Entrepreneurship Training Program (DBN-ETP) , offering free, high-quality business training and grant funding of up to ₦8.5 million to support the growth and sustainability of Micro, Small and Medium Enterprises (MSMEs) . The 2026 edition is being implemented in partnership with the Anambra State Small Business Agency (ASBA) , with a strong focus on building the capacity, bankability, and competitiveness of Nigerian entrepreneurs. For this cycle, over 100,000 MSMEs nationwide are expected to benefit, with 3,000 entrepreneurs targeted in Anambra State . ( MSME Africa ) About the DBN Entrepreneurship Training Program (DBN-ETP) The DBN-ETP is DBN’s flagship capacity-building initiative designed to equip entrepreneurs with practical skills in bus...