News
BREAKING: FG, state, local governments share N2.001trn July revenue
The three tiers of government—federal, state, and local—shared a total of N2.001 trillion from the Federation Account as revenue for the month of July 2025, according to the Federation Account Allocation Committee (FAAC).
The allocation was made during the FAAC meeting held in August 2025 in Abuja, with details released in an official communiqué.
The distributable revenue included:
- N1.282 trillion in statutory revenue
- N640.610 billion from Value Added Tax (VAT)
- N37.601 billion from Electronic Money Transfer Levy (EMTL)
- N39.745 billion from exchange rate difference
Out of the total distributed funds:
- The Federal Government received N735.081 billion
- State Governments received N660.349 billion
- Local Government Councils received N485.039 billion
- N120.359 billion was shared to oil-producing states as 13% derivation revenue
Revenue Breakdown:
Statutory Revenue (N1.282 trillion):
- FG: N613.805 billion
- States: N311.330 billion
- LGs: N240.023 billion
- 13% Derivation: N117.714 billion
VAT (N640.610 billion):
- FG: N96.092 billion
- States: N320.305 billion
- LGs: N224.214 billion
EMTL (N37.601 billion):
- FG: N5.640 billion
- States: N18.801 billion
- LGs: N13.160 billion
Exchange Gains (N39.745 billion):
- FG: N19.544 billion
- States: N9.913 billion
- LGs: N7.643 billion
- 13% Derivation: N2.643 billion
The total gross revenue for July was N3.836 trillion, down from N3.485 trillion in June. Cost of collection deductions amounted to N152.681 billion, while N1.683 trillion was allocated for transfers, refunds, savings, and interventions.
FAAC noted improved collections from Petroleum Profit Tax, Oil and Gas Royalties, EMTL, and Excise Duties, while Companies Income Tax and CET Levies declined slightly. VAT and Import Duties saw marginal growth.
The committee reiterated its commitment to ensuring transparency in the allocation of national revenues across all levels of government.
News
Uzodimma to Editors: You should be held accountable for what happens to Nigeria
“The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”
Senator Hope Uzodimma, the Governor of Imo State, says the Nigerian media industry should be held accountable for what’s happening in the country and to its citizens, both positively and negatively.
“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect,” said Uzodimma.
In a keynote address , he delivered today during the 21st edition of the All Nigerian Editors Conference in Abuja.
Uzodimma, critique the theme, ‘Democratic Governance and National Cohesion: The Role of Editors,’ and a sub-theme: ‘Electoral Integrity and Trust Deficit: What Nigerians Expect in 2027,’ said : I will not let you escape accountability for electoral integrity, trust deficit, and what Nigerians expect in 2027.
Here is why. If you have a role to play in “Democratic Governance and National Cohesion,’ then you also have a role to play in ‘Electoral Integrity and Trust Deficit.’
Without electoral integrity, there can be no democracy. Electoral integrity begets democracy, and democracy begets good governance, and good governance fast-tracks the exorcism of trust deficit.
In all of these, your role as facilitator, amplifier, or catalyst is key.
“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect.”
He emphasised that what editors actually do is akin to a pastoral duty.
“You decide what becomes urgent and what disappears.
You choose the lens through which millions of Nigerians see their country, their leaders, and each other.
“That is how the media is structured. A policy shift is either “Government U-Turn” or “Strategic Adaptation.”
A land border closure is either “Economic Protectionism Impoverishing the People” or “National Security Imperative.” Same facts, different frames. Entirely different public perception.,” he said.
He added: ” You are not spectators in 2027. You are active participants. You are catalysts and facilitators, whether r you acknowledge it or not.
The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”
News
Editors demand 10-year corporate tax relief for the media industry
The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.
•President of the NGE, Mr Eze Anaba
The Nigeria Guild of Editors (NGE) is requesting for 10-year corporate tax relief from the federal government.
The guild presented their demand on Wednesday during the opening ceremony of the All Nigeria Editors Conference (ANEC) with the theme “Democracy, Governance and National Cohesion: The Role of Editors”, held at the State House Conference Hall, Abuja.
The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.
He emphasized that the economic situation in the country has forced some media houses to shut down, while some that struggle to operate cannot pay workers’ salaries.
The NGE boss also called for tax exemption, the establishment of low-interest loans for the media, and a digital transformation and innovation fund.
Anaba further proposed a Media Freedom and Safety Charter to protect journalists from a hostile environment.
News
Ethiopia wins bid to host 2027 COP32 climate summit
•Ethiopian Prime Minister Abiy Ahmed
Ethiopia has been selected to host the 32nd United Nations Climate Change Conference (COP32) in 2027.
Richard Muyingi, chair of the African Group of Negotiators (AGN), disclosed that Ethiopia’s bid was endorsed last week after the country resubmitted its expression of interest , beating Nigeria in a closely contested bid.
“The matter was discussed by the African group in a meeting last week, and Ethiopia was confirmed as the host of COP32,” Muyingi said.
The hosting of COPs rotates among global regions, with Africa due to host the summit in 2027.
The host country for COP31 is yet to be decided between Turkey and Australia.
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