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FAAC: FG, States, LGs Share N647.39bn – Adeosun

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FAAC: FG, States, LGs Share N647.39bn – Adeosun

Workers at the three tiers of Government are to receive their salaries for this month before the Easter break as the Federal, State and Local Governments shared the sum of N647.39 billion from the Federation Account.

The money was the revenue collection for the month of February 2018 which was approved at the Federation Account Allocation Committee (FAAC) meeting convened and chaired by the minister of finance Wednesday.

The unusual FAAC meeting was attended by, a representative of the Permanent Secretary and Director of Home Finance in the Federal Ministry of Finance, Mrs. Olubunmi Siyanbola; Accountant General of the Federation, Mr. Ahmed Idris; Chairman of Finance Commissioners’ Forum and Adamawa State Commissioner for Finance, Mr. Mahmoud Yunusa; States’ Commissioners of Finance and Accountant-Generals, and representatives of revenue generating agencies.

Adeosun, who spoke to journalists at the end of the Committee’s emergency meeting, said she personally engaged states’ governors in several meetings the previous night (Tuesday) to find a way around the stalemate.

She then revealed that the sum of N647.39 billion distributed to the three tiers of government was N11.836 billion higher than the N635.554 billion shared in the previous month.

Statutory revenue accounted for N557.943 billion of the total revenue distributed for the month of February while Value Added Tax (VAT) accounted for the balance of N89.447 billion.

The total revenue distribution in the previous month was made up of statutory revenue of N538.908 billion and Value Added Tax of N96.646 billion.

On the States’ dispute with the revenue paid by the Nigerian National Petroleum Corporation (NNPC) into the Federation Account, the Minister said the FAAC would reconcile the revenue figures with the top management of the Corporation led by the Group Managing Director, Mr. Maikanti Baru.

“The NNPC is a major channel of our mineral revenue. Some issues have been raised by the States on the revenue paid into the Federation Account by NNPC.

“These are being looked into and within the next 48 hours, we will hold a joint meeting with the NNPC Group Managing Director to address the concerns of the States. The reconciliation of the revenue figures is part of a healthy process to ensure transparency and accountability,” Adeosun said.

The Chairman of Finance Commissioners’ Forum, Mahmoud Yenusa, explained that the reconvening of the meeting had become necessary to enable States pay workers their salaries before the Easter break.

“The account submitted by the NNPC is not acceptable to the States but we are willing to jointly reconcile the revenue figure with the leadership of NNPC.

“We agreed last night to reconvene the meeting for the benefits of Nigerian workers at all tiers of government, to enable them receive their salaries,” the Adamawa State Commissioner of Finance said.

Sounding a note of warning, Mahmoud Yunusa stated that the states “won’t take this anymore. NNPC will have to sit up and do its job. We are not taking this anymore. We would not come here, spend days without holding the meeting. So in the spirit of Easter, we would take this account, go home with it;  pay salary and come back to meet NNPC to  pay us our balance. We have to find out wherever the error is”, he said.

Immediately after the meeting, the Accountant General of Federation signed the mandates for the Central Bank of Nigeria (CBN) to pay the approved revenue allocation into the accounts of the Federal, State and Local Governments.

Giving further breakdown of the revenue distribution, the Finance Minister said the Federal Government received N257.927 billion of the net statutory revenue as against the N249.366 billion received in the previous month, while the State and Local Governments’ share of the statutory revenue was N130.824 billion and N100.86 billion, respectively.

The States and Local Governments had last month got N126.482 billion and N97.512 billion, respectively.

The 13% derivation accounted for the balance of the statutory revenue of N57.356 billion.

The 36 States received Value Added Tax of N42.935 billion compared with N46.39 billion received in the previous month, while the Federal and Local Governments received VAT of N12.88 billion and N30.054 billion, respectively.

Both Federal and Local Governments had received N13.917 billion and N32.473 billion, respectively, from VAT in February 2018.

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Tinubu @ 3: How REA Is Expanding Energy Access to Support Nigeria’s $1 Trillion Vision

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For decades, achieving economic independence in Nigeria has been limited by a fundamental deficit: access to reliable electricity.

In rural and peri-urban communities, often referred to as the “last mile,” small businesses, agro-processors, and households have historically survived on costly, polluting petrol generators or lived in complete darkness. However, a silent revolution has been taking place across the country. Led by the Rural Electrification Agency (REA), decentralized renewable energy solutions are systematically closing the energy gap. Driven by bold policy shifts and unprecedented private sector funding, the REA’s mini-grid solutions are not just illuminating homes, they are serving as a critical infrastructure backbone to catalyze the Central Bank of Nigeria’s (CBN) ambitious target of achieving a $1 trillion economy.

This rapid transformation underscores the strategic vision of the current administration. As President Bola Ahmed Tinubu marks his third year in office, this milestone stands as a testament to his administration’s foresight. By recognizing early on that the fragile national grid could not single-handedly carry the weight of Nigeria’s industrial ambitions, the President prioritized decentralized energy solutions to intentionally ease the burden on the national grid.

Of notable mention is Mr President’s appointment of Dr. Abba Aliyu as the Managing Director of the REA. Abba’s appointment has injected a much-needed dose of technocratic competence, corporate governance and execution speed into the agency, effectively turning a bottleneck into a launchpad for national growth.

Historically, the mention of the REA in Nigeria’s public discourse was frequently tied to headlines of systemic corruption, contract inflation, and abandoned projects. For years, the agency operated as a black box where public and international donor funds vanished into ghost electrification schemes, leaving rural communities in perpetual darkness.

Today, transparency has become the order of the day. At the heart of this institutional transformation is the deployment of advanced digital data platforms including the REA Project Monitoring and Performance Hub (MPH), the Nigeria SE4ALL web platform, and specialized tracking architectures managed alongside data partners like Odyssey. By utilizing real-time IoT (Internet of Things) remote monitoring and data portals, the REA tracks precisely how much power is generated and which communities are connected. This data-first architecture ensures full accountability to international donors, eliminates ghost projects, and guarantees that disbursements are strictly tied to verified performance.

Under the leadership of Dr. Abba Aliyu, Nigeria’s off-grid sector has undergone a massive structural shift, moving from a heavy reliance on imported technology to becoming a regional manufacturing powerhouse. Driven by deliberate government policies aimed at de-risking private capital, Nigeria’s installed local solar panel production capacity has skyrocketed from 120 megawatts (MW) to approximately 300MW.

With an additional 3.7 gigawatts (GW) of capacity currently in the development pipeline, Nigeria is fast positioning itself to anchor West Africa as a renewable energy manufacturing hub. Locally manufactured solar panels are already being exported from industrial corridors like Lagos to regional neighbors like Accra, Ghana.

This domestic manufacturing surge is underpinned by a groundbreaking regulatory environment. The Nigerian Electricity Regulatory Commission’s (NERC) Mini-Grid Regulations have expanded the allowable capacity for interconnected mini-grids to 10MW. By defining exactly how mini-grids interact with the main national grid, Nigeria has established one of the most progressive and investor-friendly regulatory frameworks in Africa, one that is currently being studied and replicated by countries like Mozambique, Benin Republic, Burkina Faso, and Niger.

At the center of REA’s current aggressive rollout is the Distributed Access through Renewable Energy Scale-Up (DARES) programme, widely recognized as the largest publicly funded renewable energy access initiative globally.

DARES is an ambitious $750 million initiative structured to pull an additional $1.1 billion in private sector investments through a results-based financing model. Under this mechanism, private developers must fully mobilize and deploy their own capital to build functioning energy infrastructure before unlocking financial incentives.

The impacts of the DARES initiative are aggresively mapped toward radical socio-economic transformation, aiming to provide clean, reliable electricity to over 17.5 million Nigerians, power over 2.5 million households across the federation, and launch 1,350 mini-grids, including 250 interconnected systems.

As at today, over 1000 mini grids are being developed across the country. Additionally, 48 Interconnected mini-grids are being deployed that will inject additional 288MW of clean reliable capacity are being deployed in collaboration with 11 Distribution Companies.

The REA has gone further to unlock private finance through partnerships with institutions like FCMB, Lotus Bank, and the International Finance Corporation (IFC), creating an expansive, decentralized energy ecosystem capable of sustaining itself long after public funds are exhausted.

The expansion of last-mile electrification directly intersects with macroeconomic objectives. The CBN’s blueprint for a $1 trillion economy relies heavily on boosting productivity in agriculture, expanding MSMEs (Micro, Small, and Medium Enterprises), and scaling up local manufacturing. The REA’s mini-grid solutions act as an economic multiplier for this vision in three distinct ways.

Firstly, it unlocks the agricultural value chain.

A significant portion of Nigeria’s wealth resides in its rural agrarian communities, which suffer from high post-harvest losses due to a lack of cold storage and processing facilities. By deploying solar mini-grids to agricultural hubs, the REA enables the operation of solar-powered mills, irrigation pumps, and cold storage units. This transitions subsistence farming into a commercialized, high-yield industry, drastically boosting rural GDP contribution.

Secondly, it reduces MSMEs operating costs.

High inflation and currency fluctuations heavily penalize businesses reliant on imported fuel for generators. Replacing petrol and diesel with predictable, cheaper solar energy immediately frees up operational capital for millions of small businesses such as salons, tailoring shops, welding centers, and healthcare facilities. These saved costs are directly reinvested into expanding operations and hiring more local labor.

Furthermore, the scale-up of mini-grid capacities to 10MW allows for the strategic deployment of large solar farms in border towns. This positions Nigeria to engage in cross-border electricity trade, selling off-grid power to neighboring West African border communities. This opens up entirely new foreign exchange revenue streams, strengthening the Naira and boosting regional trade volumes in line with sub-regional economic integration goals.

In addition, the REA signed a $700,000 Memorandum of Understanding (MoU) with the Economic Community of West African States (ECOWAS) Commission to electrify healthcare centers and 15 public universities across the Federal Capital Territory (FCT), Niger, and Nasarawa states. This initiative has already begun yielding tangible results, with active projects rolling out across institutions like the Federal University of Technology, Akure (FUTA).

The Rural Electrification Agency’s mini-grid solutions have evolved beyond basic social welfare into a primary driver of industrialization and economic formalization. By taking electricity to the last mile, the REA is activating trapped economic potential in regions that the traditional grid could not reach.

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Eid-el-Kabir: Let’s Peace, Unity And Selflessness Be Our Watchword, Olowu Urges Muslim Ummah, Nigerians

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Olowu of Kuta, HRM Oba Dr Hammed Makama Oyelude, CON, Tegbosun iii, has urged muslim Ummah and Nigerians to let peace , unity and selflessness be their watchword as the world observe the Eid-el-Kabir

The reverred monarch in his sallah message said Eid-el-Kabir remains a highly spiritual occasion that calls for dedication, commitment, and selflessness.
According to him, ” this is the time to reflect on the going on around us and preach messages of hope and unity devoid of any provocation.”
Oba Makama urged Nigerians to live together peacefully, irrespective of religious, political, and tribal affliation.
While calling on politicians to exercise restraint and refrain from any rhetoric that may inflame passion as we approach 2027 general elections, Oba Makama said what should be uppermost in the mind of every patriotic Nigerian is “Country first.”
The monarch, while wishing every Nigerian a peaceful celebration, maintained that people should be vigilant and not be overwhelmed by the insecurity, adding that armed forces and other para military forces are working round the clock to ensure hitch free celebration.
” The price wise men pay for eternal liberty is to be vigilant. I urged everyone to be moderate in celebration and reach out to the less privileged, widows and orphans “as our brothers and sisters keeppers,” Olowu added.

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Tinubu Emerges APC Presidential Candidate After Nationwide Direct Primary

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….President Tinubu polls 10,999,162 votes, declared winner.

The ruling All Progressives Congress (APC) has declared President Bola Ahmed Tinubu the winner of its presidential primary election ahead of the 2027 general elections.

The party commenced the collation of results from its nationwide presidential shadow election at the Bola Ahmed Tinubu International Conference Centre in Abuja following the conclusion of voting on Saturday, May 23.

In a significant shift from the delegate-based system often associated with controversy, the APC adopted a direct primary method for the exercise. The election was conducted simultaneously across the party’s 8,809 wards in the 36 states and the Federal Capital Territory (FCT).

Under the direct primary system, all registered members of the party were eligible to vote for their preferred presidential aspirant, a move party leaders described as part of efforts to strengthen internal democracy and encourage wider grassroots participation.

The final stage of the process is being supervised by a seven-member Presidential Primary Election Committee chaired by former Senate President, Senator Anyim Pius Anyim.

Other members of the committee include former Senate President Ken Nnamani, Grace Titi Laoye-Ponle, former Speaker of the House of Representatives Yakubu Dogara, former Kogi State Governor Idris Wada, and Sanusi Musa, who serves as the committee secretary.

The atmosphere at the Bola Ahmed Tinubu International Conference Centre remained charged as governors, party chairmen, and designated collation officers arrived to present certified results from their respective states before the Anyim-led committee.

Governors coordinating the exercise in their states took turns presenting the official results as the party concluded the nationwide primary process.

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