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...
Hybridteck Launches $36,000,000 CDS-TP Skills Acquisition & Entrepreneurship Fund for Africans Hybridteck has officially launched a $36,000,000 CDS-TP Skills Acquisition and Entrepreneurship Fund aimed at empowering members of the Hybridteck community across Nigeria with digital and non-digital employable skills and providing immediate business setup support . The CDS-TP initiative is designed to reduce unemployment, promote entrepreneurship, and build sustainable livelihoods by combining hands-on training, certification, mentorship, and startup support for eligible members. Through this programme, beneficiaries will gain access to industry-relevant skills, nationally recognized certification, and the opportunity to start or scale their businesses within a structured support ecosystem. Programme Objectives Train Nigerians in digital and non-digital skills Support immediate business setup and entrepreneurship Promote community-based referr...