The Federal Government has projected total revenue of ₦50.74tn for 2026 and set an economic growth target of 4.68%, even as its proposed deficit for the year has surged to a level that exceeds the entire 2022 national budget by ₦2.78tn. The sharp rise in the deficit suggests the government may borrow about 16.1% more…
The Nigeria Customs Service (NCS) has announced a total revenue collection of N3.6 trillion between January and June 2025. This was disclosed by the NCS National Public Relations Officer, Abdullahi Maiwada, in a statement released after the 63rd regular meeting of the Customs Board, chaired by the Minister of Finance and Coordinating Minister of the…
The Federal Government has reaffirmed its commitment to implementing the National Single Window — a key initiative of President Bola Tinubu’s administration aimed at curbing revenue leakages, improving trade efficiency, and enhancing transparency in international trade. Finance Minister Wale Edun, speaking before the National Assembly Joint Committee on Customs and Tariffs on Monday, said, “We…
About N1.7 trillion in revenue by the Federal Account Allocation Committee (FAAC) has been shared by the federal, state and local governments in February 2025. A statement issued on Saturday by the Director of Press and Public Relations, Bawa Mokwa, revealed that a total of N1.678 trillion was distributed in March 2025 during the Federation…
Insurance company, Aiico has forecasted a Gross Written Premium (GWP) of ₦114.3 billion for the second quarter of 2025 from insurance revenue of ₦67.2b currently recorded. In a notice to the Nigerian Stock Exchange (NSE) on Wednesday, the firm said the 2025 projections are made based on seasonal trends of premium receipt with a consideration…
A dedicated unit is now in place in the Office of the Accountant General of the Federation (OAGF) to handle direct disbursement of funds to the 774 local governments across the country as the planned financial autonomy for the third tier of government takes effect this month. The first meeting of the Federation Account Allocation Committee (FAAC)…
A total of ₦1.727 trillion, November 2024 Federation Accounts Revenue, has been shared between the Federal Government, States, and Local Government Councils. The revenue was shared at the December 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Abuja. This was disclosed in a statement signed by FAAC Director of Press and Public…
The Federal Government’s revenue from Foreign Direct Investment into Nigeria in the second quarter of 2024 dropped to $29.83m. According to the National Bureau of Statistics’ most recent capital importation data, foreign direct investment (FDI) fell by 65.33 percent from $86.03 million during the same time last year. Based on available data up until 2013,…
A total sum of 1.3 trillion naira has been Disbursed to the federal, state, and local government areas for July. The Federation Accounts Allocation Committee (FAAC) meeting in Abuja in August 2024 featured the announcement of the income allocation. According to an FAAC communiqué, the Federal Government received N431.079 billion and the State Governments received…
