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...
3' Edo Inland Dry Port Gets FG’s Approval as Port of Origin, Destination, Says CEO admin November 11, 2020 Marine Engineering Services (AMES), says it has secured the Federal Government’s approval to promote Edo inland Dry port as a port of origin and destination. Dr Charles Akhigbe, Chief Executive Officer (CEO) of the company, who disclosed this on Wednesday, in an interview with the News Agency of Nigeria (NAN) in Benin, added that the port was expected to create no fewer than 5,000 jobs, including ancillary services. Akhigbe explained that with the approval granted in October, the dry port was set to commence agro exports soon. He, however, said that the management of the dry port was expecting the Executive Secretary of the Nigerian Export Promotion Council(NEPC), Mr Segun Awolowo’s to visit and inspect the facility for zero export dedicated warehouse, before it commences exports. Being the first in the South-South geo political zone, the executive said, the port would not o...