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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.

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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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Araraume Felicitates President Tinubu on his birthday. Hails his Reform Agenda and National Milestones

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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising the President’s leadership style and the series of reforms that have shaped the direction of the country since he assumed office.

In a statement issued on Saturday, Araraume described President Tinubu as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that the President’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long term national development.

Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long‑standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.

He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.

Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long term vision for a more productive Nigeria.

The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programs aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.

On the diplomatic front, Araraume praised President Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.

“As we celebrate this milestone, it is important to recognize the resilience and determination with which President Tinubu has approached the task of nation building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”

He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”

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Araraume Salutes Tinubu’s Vision, Lists Key Achievements on Birthday

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Senator Ifeanyi Araraume has congratulated President Bola Ahmed Tinubu on the occasion of his birthday, praising his leadership style and the series of reforms that have shaped the country’s direction since he assumed office.

In a statement issued on Saturday, Araraume described the President as “a courageous reformer whose decisions continue to redefine Nigeria’s economic and governance landscape.” He noted that Tinubu’s first year in office has been marked by bold policy choices aimed at stabilizing the economy and laying the groundwork for long-term national development.

Araraume highlighted the removal of the petrol subsidy as one of the most significant economic decisions in recent decades, saying it demonstrated the President’s willingness to confront long-standing structural challenges. According to him, the policy, though demanding, has redirected national resources toward infrastructure, social investment, and other critical sectors.

He also commended the administration’s unification of the foreign exchange market, describing it as a major step toward restoring investor confidence and strengthening Nigeria’s global competitiveness. The senator noted that the reforms have attracted renewed interest from international partners and signaled a commitment to transparent economic management.

Beyond economic restructuring, Araraume pointed to ongoing infrastructure expansion as evidence of the administration’s focus on national development. He cited the acceleration of key road projects, renewed efforts to expand rail connectivity, and the push to improve power generation and distribution as initiatives that reflect the President’s long-term vision for a more productive Nigeria.

The senator further acknowledged the government’s interventions in agriculture, including support for mechanization and targeted programmes aimed at boosting food security. He said these efforts are essential to reducing dependence on imports and strengthening local production.

On the diplomatic front, Araraume praised Tinubu’s engagements across Africa and beyond, noting his role in strengthening regional cooperation within ECOWAS and advancing Nigeria’s interests on the global stage.

“As we celebrate this milestone, it is important to recognise the resilience and determination with which President Tinubu has approached the task of nation-building,” Araraume said. “His commitment to reforms, economic stability, and democratic governance continues to inspire confidence in Nigeria’s future.”

He wished the President good health, renewed strength, and continued wisdom as he leads the country through what he described as “a defining period in Nigeria’s history.”

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APC Convention: Party Eyes Consensus for National Leadership Selection

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The All Progressives Congress has confirmed that it plans to adopt a consensus approach for selecting its national leadership during the party’s convention scheduled for March 27–28, 2026, in Abuja.

The Assistant Secretary for Media and Publicity for the APC National Convention 2026, Mary Ikoku, disclosed the plan during an interview on Channels Television’s Sunrise Daily on Wednesday.

On the issue of elective positions during primaries, Ikoku said the party had not yet decided how these would be handled, noting that decisions may vary depending on local political dynamics.

She explained, “APC, for this convention, I am aware and can say that the party is adopting consensus for this convention. As to whether they are adopting consensus for elective positions, I do not have an answer to that because politics is local.

“So, I believe that, at the end of the day, when it comes to the issue of elective positions, the persons who would emerge aren’t often what you would want to make consensus in every space.”

Ikoku also addressed the Electoral Act’s provisions, which require political parties to register members online within a specified timeframe and outline acceptable methods for candidate selection.

She said these requirements posed challenges for some parties but reflected preparedness—or the lack thereof.

“We have an electoral law that defines the models for these elections. Direct primaries and consensus have been allowed, while indirect primaries have been taken out.

“That is the current law of the nation, passed and assented to. Now, why do you think other political parties will have issues with that?” she asked.

“That would be to say there are levels of unpreparedness of these political parties. Any political party that is worth its salt should not wait till election season to start preparing for the run for office and all of these congresses.

“It is something they would have planned ahead of time. So, when you are not proactive as a party, these kinds of situations can challenge you deeply,” she added.

Ahead of the convention, the party began screening aspirants for key positions in its National Working Committee , including National Chairman aspirant Nentawe Yilwatda and National Secretary hopeful Ajibola Basiru.

Other NWC members seeking to retain their posts include National Youth Leader Dayo Israel, Deputy National Chairman (North) Ali Bukar Dalori, National Legal Adviser Abdulkarim Abubakar Kana, National Woman Leader Mary Alile Idele, and National Publicity Secretary Felix Morka, among others.

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