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FG, States, LGs Receive ₦1.89T Despite Drop In VAT Revenue,
The Federation Account Allocation Committee (FAAC) has distributed ₦1.89 trillion from February 2026 revenue to the Federal Government, state governments, and 774 local councils. The March FAAC meeting in Abuja, chaired by Finance Minister Wale Edun, oversaw the allocations.....KINDLY READ THE FULL STORY HERE▶
From the distributable amount, the Federal Government received ₦675.08 billion, states shared ₦651.52 billion, local governments got ₦456.46 billion, and oil-producing states received ₦110.94 billion as 13% derivation revenue. From the gross revenue of ₦2.23 trillion, ₦77.3 billion was deducted for collection costs, and ₦259.07 billion set aside for transfers and refunds.
FAAC noted a sharp drop in VAT revenue, which fell from ₦1.08 trillion in January to ₦668.45 billion in February. After deductions, ₦619.11 billion from VAT was shared: ₦61.91 billion to the federal government, ₦340.51 billion to states, and ₦216.69 billion to local councils.
Statutory revenue also declined from ₦1.95 trillion in January to ₦1.56 trillion in February. After deductions, ₦1.27 trillion was distributed: ₦613.17 billion to the federal government, ₦311.01 billion to states, and ₦239.77 billion to local councils, with oil-producing states receiving ₦110.94 billion in derivation.
While oil and gas royalties and excise duties rose, key revenue sources including petroleum profit tax, hydrocarbon tax, companies’ income tax, capital gains tax, stamp duties, and VAT fell. Import duties and the common external tariff saw slight increases.
Former Vice President and ADC chieftain, Atiku Abubakar, has downplayed the political influence of key northern figures, including Rabiu Kwankwaso, Aminu Tambuwal, and Nasir El-Rufai.....KINDLY READ THE FULL STORY HERE▶
Speaking on Arise Television’s Prime Time, Atiku insisted that he remains the most popular northern politician, claiming that none of the current or emerging leaders in the region can match his electoral strength.
He argued that despite their prominence, no northern politician has a wider voter base than him.
Atiku specifically said Kwankwaso’s influence is largely limited to Kano State, adding that even there, political support is now split between the former governor and Governor Abba Yusuf.
“Can you tell who is a current leader in the North who has more votes than I have? Talking of leaders like Tambuwal, Kwankwaso, El-Rufai and also the emerging political leaders, none of them have got that northern vote as much as I’ve got,” he said.
He added that Kano politics is currently divided, noting that Kwankwaso’s support is no longer exclusive within the state.
Atiku Abubakar, former Vice President, has said he is willing to step down if Peter Obi secures the African Democratic Congress (ADC) presidential ticket ahead of the 2027 elections.....KINDLY READ THE FULL STORY HERE▶
He made the remark during an interview on Arise News on Wednesday, where he was asked whether he would withdraw in Obi’s favour if the former Labour Party candidate wins the party’s primary.
Atiku confirmed he would respect the outcome, saying he is prepared to step aside for any winner, including Obi.
“Of course, if he is a contender, why not?” he added when pressed further.
He also noted that other aspirants such as Rabiu Kwankwaso and Rotimi Amaechi are also in the race for the ADC ticket.
The former presidential candidate explained that his stance reflects democratic principles, stressing that candidates can emerge either through consensus or election.
Atiku further expressed confidence that the North remains a strong political base for him ahead of 2027, saying the region continues to show unity and support in past elections.
A former Secretary to the Government of the Federation and chieftain of the African Democratic Congress (ADC), Babachir Lawal, has insisted that the party will participate in the 2027 general elections regardless of the position of the Independent National Electoral Commission (INEC).....KINDLY READ THE FULL STORY HERE▶
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