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Alleged Fraud: “Will the masses finally reap the dividends of democracy, particularly at the state and local government levels?” questions arise as N1.1 trillion is shared among tiers of government from Federation Account revenue, yet, analysis suggests otherwise.
Allocation highest ever
N500b kept in savings
Yusuf: let gains of reform reflect on citizens
It was a huge “payday” for the tiers of government yesterday.
The federal, state and local governments shared a handsome N1.127 trillion from the N1.674 trillion collectable revenue in December 2023.
Over N500 billion was saved to take care of future needs.
It is the second consecutive month that the revenue shared from the central purse crossed the N1 trillion mark.
The first time it did was in September 2023.
From the N655.932 billion shared in May, the month that President Bola Ahmed Tinubu took office and pronounced that the “petrol subsidy is gone,” the revenue has been going up steadily (SEE TABLE).
The staggering figure, made available after the Federation Account Allocation Committee (FAAC) meeting yesterday, is a reflection of the nation’s economic upward movement, analysts said.
According to them, it also presents an opportunity for the government at all levels to ensure growth and development.
Economists last night said with increased revenue, the people should begin to get the dividends of democracy, especially at the state and local governments.
The agreement by FAAC members to allow N500 billion in savings is indicative of financial prudence, a member said.
Breaking down the revenue accruals, according to a statement by the FAAC, Companies Income Tax (CIT), Excise Duty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), and Electronic Money Transfer Levy (EMTL) increased significantly.
But there is a slight decline in oil and gas royalties, import duty and CET levies.
Despite the remarkable revenue gains, the balance in the Excess Crude Account (ECA) remained static at $473,754.57.
The surplus in the federation account serves as a cushion for any unforeseen economic challenges that may arise.
A closer look at the activities surrounding the Federation Account has shown that N875.382 billion was received as gross statutory revenue for December 2023, which was slightly lower than the N882.560 billion received in November.
In terms of the Value Added Tax (VAT), December 2023 saw a significant increase compared to the previous month.
The gross revenue available from VAT stood at N492.506 billion, which is a N132.051 billion increase from November.
This surge in VAT revenue can be attributed to the improvement in economic activities and increased consumer spending during the festive season.
Further analysis of the revenue distribution revealed that the Federal Government got N383.872 billion from the total distributable revenue; states received N396.693 billion and the local government areas received N288.928 billion.
State collecting derivation funds from mineral revenue shared N57.915 billion, representing 13 per cent of the revenue.
Regarding distributable statutory revenue, the Federal Government received N173.729 billion, state governments, N88.118 billion and councils, N67.935 billion from the N363.188 billion generated.
From the distributable VAT revenue of N458.622 billion, the Federal Government received N68.793 billion, state governments received N229.311 billion, and local government councils received N160.518 billion.
The Electronic Money Transfer Levy (EMTL) of N17.855 billion was allocated as follows: the Federal Government received N2.678 billion, states got N8.928 billion and local government councils received N6.249 billion.
However, the stagnant Excess Crude Account raises concern about the need for strategic investment of surplus funds into critical sectors.
The slight decline in statutory revenue and continued dependence on oil and gas require further attention.
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Ekiti APC: Controversy Trail Cyril Fasuyi’s Second-Term Ticket as Fayemi, Oyebanji Alliance Sparks Debate
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There are growing political discussions within the Ekiti State chapter of the All Progressives Congress (APC) following allegations surrounding the emergence of Senator Cyril Fasuyi for a second term ticket.
Some party members and political observers in the state have alleged that Governor Biodun Oyebanji and former Governor Dr. John Kayode Fayemi remain politically aligned despite public perceptions suggesting otherwise. According to the claims, the relationship between Governor Oyebanji and Fayemi remains cordial and influential in the state’s political structure.
Critics further alleged that Senator Cyril Fasuyi was advised to reconcile with Fayemi in order to secure support for his return bid, a move they claim eventually strengthened his chances of getting the ticket.
The development has reportedly generated concerns among some APC stakeholders, who believe certain political interests are working behind the scenes to shape the future direction of Ekiti politics ahead of upcoming political contests.
The allegations also claim that internal power struggles within the party may affect relationships with key figures at the national level, particularly supporters loyal to President Bola Ahmed Tinubu.
However, no official statement has been issued by Governor Oyebanji, Dr. Fayemi, or Senator Fasuyi regarding the allegations.
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Drama in Rivers APC as Fubara and Tonye Cole Step Down from Governorship Primary
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Rivers State Governor, Siminalayi Fubara, has announced his withdrawal from the All Progressives Congress governorship primary election in the state.
Fubara made this known in a statement personally signed on Wednesday, saying he would support whoever emerges as the party’s candidate, The Nations reported.
The governor said his decision followed extensive consultations with his family, friends, and political associates.
“After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC governorship primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of our great party,” Fubara said.
The development comes amid ongoing political realignments ahead of the 2027 general elections in Rivers State.
Fubara said although the decision was difficult, he remained committed to supporting whoever would emerge as the APC governorship candidate.
According to him, leadership demands sacrifice and personal ambition must sometimes give way to the collective interest of the people.
“Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest,” he said.
Meanwhile, the embattled governor expressed appreciation to his supporters for their loyalty, prayers and sacrifices throughout the political process, acknowledging that many would feel disappointed by his withdrawal.
He said his silence in recent weeks was “deliberate and strategic,” adding that it was guided by the higher interest of the state.
Newsthumb had earlier reported that APC chieftain and 2027 governorship aspirant in Rivers State, Tonye Cole, also announced his withdrawal from the race, saying his decision was, among other reasons, in the interest of the party’s unity.
Fubara thanks Tinubu, dismisses cowardice
The governor hinted at undisclosed pressures surrounding the political process, saying: “As our elders say, not everything a hunter sees in the forest is spoken of in the marketplace.”
He added that some truths were best kept quietly “not out of fear, but out of wisdom and restraint for the sake of peace and a greater purpose.”
Fubara thanked the APC leadership for the opportunity given to him during the process and also expressed gratitude to President Bola Tinubu for his support and encouragement.
He urged party faithful to remain united and committed to the APC, describing the party as their “collective home.”
The governor, however, insisted that his withdrawal should not be interpreted as an act of weakness or surrender.
“I stepped aside not out of weakness, fear, or surrender, but out of conviction and sacrifice so that Rivers State may move forward in peace and unity,” he said.
Fubara also pledged to continue serving the people of Rivers State until the end of his tenure.
He further stated, “Leadership is ultimately about sacrifice. There comes a time when personal ambition must yield to the greater good of the people. Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest.
“To my supporters who stood firmly with me throughout this journey who gave their time, resources, prayers, and unwavering hope, I offer my deepest gratitude. I understand the disappointment, the anger, and the pain many of you may feel.
“Much has indeed been invested and much sacrificed along the way. But please know that your loyalty and trust were never in vain. My silence over this period was deliberate and strategic, guided always by the higher interest of our state and our people.”
Our correspondence earlier reported that Fubara rose politically under the administration of his predecessor and political godfather, Nyesom Wike, serving as Accountant-General of Rivers State before emerging as the PDP governorship candidate and winning the 2023 election with Wike’s backing.
Shortly after assuming office, however, the relationship between both men collapsed over control of the state’s political structure, appointments and finances, leading to a bitter power struggle involving the Rivers State House of Assembly led by Speaker Martin Amaewhule, who remained loyal to Wike.
The crisis escalated when 27 lawmakers attempted moves seen as targeting Fubara, while the governor’s camp questioned their legitimacy after alleged defections.
The Assembly complex was later demolished and governance became paralysed as both camps traded court actions and political attacks.
In March 2025, President Bola Tinubu declared a state of emergency in Rivers State, suspending Fubara, his deputy and all lawmakers for six months, citing political instability and threats to governance and oil infrastructure.
During the suspension, retired naval chief Ibok-Ete Ibas was appointed sole administrator.
Fubara was later reinstated after political negotiations reportedly brokered by Tinubu, with conditions said to include working with the Amaewhule-led Assembly, maintaining peace with Wike’s camp and shelving immediate political confrontation ahead of 2027, although some reported terms — including speculation about reelection concessions — remained unofficial.
The House of Assembly saga remained central to the crisis, with repeated disputes over budget presentation, impeachment threats and Supreme Court rulings affirming the Amaewhule faction as the recognised Assembly leadership.
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APC Primary Crisis Deepens in Osun as Aspirants Accuse Party Leadership of Imposition, Manipulation, and Delegate Exclusion
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The All Progressives Congress (APC) primary election held on Saturday, May 16, 2026, in Ife Federal Constituency has sparked widespread controversy, with aggrieved aspirants and party stakeholders alleging massive irregularities and manipulation during the exercise.
The aspirants accused certain party leaders of compromising the credibility of the primary process, alleging that the exercise was hijacked by desperate political actors allegedly working under the influence of the Osun State APC Chairman, Hon. Tajudeen Lawal, popularly known as “Sooko.”
According to reports gathered from several wards and local government areas within the constituency, many party members and stakeholders were allegedly denied the opportunity to participate in what was expected to be a transparent, free, and fair election. The aggrieved members described the exercise as a deliberate attempt to impose a preferred candidate against the collective will of delegates and party faithful.
Several stakeholders further alleged widespread intimidation, manipulation, and exclusion of recognized party members during the exercise, a development they said has generated tension and dissatisfaction within the party.
The aggrieved aspirants reportedly described the primary as a “scam,” alleging that results and figures were arbitrarily allocated to candidates by the party leadership.
They also alleged that incidents of violence and thuggery characterized parts of the exercise across Ife Federal Constituency, claiming that such developments have raised concerns over fairness, transparency, and internal democracy within the Osun APC.
Some party members further recalled a similar controversy during the May 27, 2022, APC primary election in the constituency, alleging that the same pattern of irregularities occurred during that exercise.
Meanwhile, the aspirants maintained that the outcome of the disputed primary election has yet to receive official recognition from the National Secretariat of the APC, as several petitions and complaints have reportedly been submitted over the conduct of the exercise.
They also noted that the Independent National Electoral Commission (INEC) has not officially validated the disputed process, thereby raising further questions regarding the legitimacy and credibility of the primary election.
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