By JOY ADARA, Abuja – Federal Government has urged the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) to carry out comprehensive due diligence in the formulation of a workable and acceptable revenue allocation for the country. The Secretary to the Government of the Federation, Sen. George Akume, CON, made...
Revenue
Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has stated that there is currently no concrete evidence to support allegations that some state governments are diverting funds allocated to local governments. Chairman of the Committee on Inland Revenue Services at RMAFC, Mr. Bimbo Kolade, disclosed this in an interview with...
By EXACTLY OBI, Abuja- Federation Account Allocation Committee (FAAC) has distributed a total of N1.818 trillion to the Federal Government, states, and Local Government Councils (LGs) for June. This significant revenue sharing comes after the FAAC meeting held in Abuja on Friday night. Revenue Breakdown The total distributable revenue...
Nigeria Government’s revenue has risen to N6.9 trillion in the first quarter of 2025, marking a 40% increase from N5.2 trillion in the previous quarter. Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, disclosed this during a Citizens and Stakeholders’ Engagement on implementing President Bola...
By MBAFAN ADE, Abuja- The Federation Account Allocation Committee (FAAC) has shared N1.659 trillion May revenue among the Federal Government, states, and Local Government Councils (LGCs). According to the communiqué issued after the June meeting of FAAC, the total distributable revenue comprised statutory revenue of N863.895 billion, Value Added...
By EZEKIEL OBI, Abuja- The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over what it describes as a failure to account for N500 billion in oil revenue allegedly not remitted to the Federation Account between October and December...
Nigeria Customs Service (NCS) recorded a revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same period in 2023. The Comptroller-General of Customs, Mr Bashir Adeniyi, disclosed this in an upcoming State House documentary to mark President Bola Tinubu’s...
By JOY ADARA, Abuja –. The Federation Account Allocation Committee (FAAC), has shared N1.681 trillion, being April revenue among the Federal Government, states and the Local Government Councils (LGCs) . This is acccording to a communiqué made available by Bawa Mokwa, the Director, Press and Public Relations, Office of...
MTN Nigeria Communications Plc generated N1.0 trillion in service revenue in the first quarter of 2025. This marks a 40.5 per cent increase from the N752.99 billion earned in Q1 2024. The company confirmed this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday. Profit after tax...
TotalEnergies Marketing Nigeria Plc has recorded N221.61 billion in revenue for the first quarter of 2025. This figure represents a year-on-year decline of 18 per cent when compared with the N269.84 billion posted in the first quarter of 2024. The company disclosed this in its financial results, which were...
Nigeria Customs Service (NCS) has collected ₦1.75 trillion as revenue for the first quarter of 2025. The Comptroller-General (C-G) of the service, Adewale Adeniyi, disclosed this on Tuesday in Abuja at a press briefing on its activities for the first quarter. Adeniyi said that they exceeded their first quarter...
Minister of Power, Mr Adebayo Adelabu, on Thursday said the sector generated additional N700 billion revenue in 2024, reflecting a 70 per cent increase from what was collected in 2023. Adelabu said this during the 6th Edition of the 2025 Ministerial Press Briefing Series in Abuja on Thursday. “It...
By JOY ADARA, Abuja- The Federation Account Allocation Committee (FAAC), has shared N1.578 trillion among the Federal Government, states and the Local Government Councils (LGCs) for the month of March. A communiqué issued by Bawa Mokwa, the Director, Press and Public Relations, Office of the Accountant-General of the Federation...
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday announced that Electricity Distribution Companies (DisCos) collected N509.84 billion in the fourth quarter of 2024 out of the N658.40 billion billed to customers. This was disclosed in NERC’s 2024 Fourth Quarter Report, published on its website in Abuja. According to the...
By JOY ADARA , Abuja- The Federation Account Allocation Committee (FAAC), has shared N1.678 trillion revenue among the Federal Government, states and the Local Government Councils (LGCs) for the month of February. This is according to a communiqué issued by FAAC and made available by Bawa Mokwa, the Director,...
By CHRISTIANA LOT, jos – Plateau State’s internally generated revenue (IGR) hit a record ₦31.14 billion in 2024, surpassing the ₦30 billion mark for the first time. The state government has now set an ambitious ₦52 billion target for 2025. The Executive Chairman of the Plateau State Internal Revenue...
By JOHN ONAH, Abuja – Nigeria’s maritime industry has the potential of generating over $30 billion annually if fully developed. Executive Secretary of the Nigerian Shippers’ Council, NSC, Dr. Pius Akutah, disclosed this in Abuja over the weekend during an interview with newsmen on the sidelines of the Top...
Minister of Interior, Dr Olubunmi Tunji-Ojo, on Tuesday said that the ministry generated over N6.03 billion in 2024 after rendering several services to Nigerians. Tunji-Ojo said this during the 2025 First Quarter Media briefing in Abuja. He said that out of the amount, N3,220,035 was generated from the expatriate...
By EMMANUEL KUJE, Abuja– The Federal Capital Territory (FCT) Minister, Nyesom Wike on Sunday night said debts owed by property owners with regard to Certificates of Occupancy (C of O) is over N300 billion. Wike spoke at a media parley held at his official residence in Life Camp, Abuja....
The National Assembly has lauded the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, for exceeding the 2024 revenue collection target of N19.4 trillion. FIRS generated N21.6 trillion, surpassing the target by N2.2 trillion. The commendation came during a meeting on Wednesday in Abuja, where...