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FG, States, LGs Receive ₦1.89T Despite Drop In VAT Revenue,

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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.

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GERMAN EARTHQUAKE: Klopp Triggers Shockwaves By Unleashing Mega Squad For First-Ever National Assignment!

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September 17, 2026

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For his debut international camp as head coach, Jürgen Klopp has named an expansive 44-man Germany squad, handing 16 players their first-ever call-ups as he kicks off a major structural revamp for the four-time world champions.....KINDLY READ THE FULL STORY HERE▶

Announced on Thursday ahead of four upcoming Nations League matches against the Netherlands, Greece, and Serbia, Klopp has split the selection into two distinct groups to manage a hectic fixture schedule.

Key Highlights of Klopp’s Squad Overhaul:

  • Fixture Schedule & Group Split: The first group takes on the Netherlands in Amsterdam on September 24 before hosting Greece in Augsburg on September 27. The second group plays Serbia in Munich on October 1 and travels to Thessaloniki for a return clash with Greece on October 4.

  • Reasoning for a Mega Squad: Although matchday limits restrict teams to 20 outfield players and three goalkeepers, Klopp explained that a 44-man selection allows him to closely evaluate maximum talent during an unusually busy window featuring four games in two weeks. He stressed that the setup does not feature an “A-team” or “B-team,” but rather balanced units designed for long-term development.

  • Building for the Future: Taking over in July from Julian Nagelsmann following another early World Cup exit, Klopp aims to construct a competitive foundation looking two to three years ahead, pushing back against the narrative that German football lacks talent.

  • Notable Names & Absences: Uncapped talents earning call-ups include Younes Ebnoutalib, Finn Jeltsch, Vitaly Janelt, and Mika Baur. Meanwhile, high-profile omissions include Leroy Sané, Leon Goretzka, Oliver Baumann, and an injured Deniz Undav, alongside veterans Manuel Neuer and Antonio Rudiger who have retired from international duty.

  • Leadership and Goalkeeping: Marc-André ter Stegen takes over as the primary goalkeeper “for the moment,” while Joshua Kimmich retains the captaincy as the team’s most experienced player (114 caps) and is expected to shift back into central midfield.

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‘I Met huge debts’ – Ex-Gov Imoke Blames Donald Duke Over Cross River Financial Crisis

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4 hours ago

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September 17, 2026

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Former Cross River State Governor Liyel Imoke has revealed that he inherited heavy debts and contingent liabilities from his predecessor and Peoples Redemption Party (PRP) presidential candidate, Donald Duke.....KINDLY READ THE FULL STORY HERE▶

Speaking on Wednesday during an interview on Arise Television’s Prime Time, Imoke addressed the financial and economic realities surrounding the Tinapa Business and Leisure Resort in Calabar.

Key Highlights of Imoke’s Disclosure:

  • The Cost of Tinapa: Imoke stated that the Tinapa project cost every man, woman, and child in Cross River State the equivalent of $170.

  • Burden of Debt Servicing: He disclosed that his administration committed one billion naira monthly strictly to servicing inherited debts, emphasizing that Duke did not pay off any of the project’s debts before leaving office.

  • Lack of Infrastructure and Planning: According to Imoke, the resort lacked basic infrastructure at launch—noting that there was no power supply on the day of commissioning, forcing his administration to provide electricity. He added that the necessary commercial and economic environment was never established, and empty buildings were commissioned without securing anchor tenants beforehand.

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DIPLOMATIC ALLIANCE: British Deputy High Commissioner Drops Bombshell On Unbreakable UK-Nigeria Partnership!

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4 hours ago

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September 17, 2026

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During a two-day official visit to Abia State, the British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, emphasized that the United Kingdom places immense value on its deep-rooted partnership with Nigeria, which is grounded in shared histories, values, and mutual interests.....KINDLY READ THE FULL STORY HERE▶

Mr. Baxter made these remarks on Wednesday in Nvosi, Isiala Ngwa South Local Government Area, while paying a courtesy visit to Abia State Governor Alex Otti.

Key Highlights of the Visit:

  • Broad Areas of Cooperation: Mr. Baxter noted that bilateral relations go far beyond traditional diplomacy, stretching into economic cooperation, trade, investment, technology, and key development projects.

  • Focus on Economic Growth: Highlighting infrastructure bottlenecks, he identified poor power generation and supply as primary barriers holding back Nigeria’s economic expansion. He added that the UK is keen on backing initiatives that unlock economic potential in Abia State and across the wider country.

  • Talent and Migration: The British envoy backed Abia State’s push to retain local professionals rather than losing skilled talent abroad, stressing the importance of educating prospective migrants on the realities they might face overseas.

  • State Openness: Welcoming the British diplomat, Governor Alex Otti affirmed that his administration remains completely open to strategic partnerships with the United Kingdom.

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