The Federation Account Allocation Committee (FAAC) has shared a total sum of ₦1.678 trillion, representing the February 2025 Federation Account Revenue, to the Federal, State, and Local Governments.

The revenue was distributed at the March 2025 FAAC meeting held in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The meeting was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.

The total distributable revenue of ₦1.678 trillion comprised distributable statutory revenue of ₦827.633 billion, distributable Value Added Tax (VAT) revenue of ₦609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦35.171 billion, Solid Minerals revenue of ₦28.218 billion, and Augmentation of ₦178 billion.

According to a communiqué issued by the Federation Account Allocation Committee (FAAC), a total gross revenue of ₦2.344 trillion was available for the month of February 2025. The total deduction for cost of collection was ₦89.092 billion, while total transfers, interventions, refunds, and savings amounted to ₦577.097 billion.

The communiqué stated that gross statutory revenue of ₦1.653 trillion was received for the month of February 2025. This was lower than the ₦1.848 trillion received in January 2025 by ₦194.664 billion.

Gross revenue of ₦654.456 billion was available from VAT in February 2025, which was lower than the ₦771.886 billion available in January 2025 by ₦117.430 billion.

The communiqué also stated that from the total distributable revenue of ₦1.678 trillion, the Federal Government received ₦569.656 billion, the State Governments received ₦562.195 billion, and the Local Government Councils received ₦410.559 billion. Additionally, a total sum of ₦136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

Bawa Mokwa, Director (Press and Public Relations), said in a statement that from the ₦827.633 billion distributable statutory revenue, the Federal Government received ₦366.262 billion, the State Governments received ₦185.773 billion, and the Local Government Councils received ₦143.223 billion. Furthermore, the sum of ₦132.374 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the ₦609.430 billion distributable VAT revenue, the Federal Government received ₦91.415 billion, the State Governments received ₦304.715 billion, and the Local Government Councils received ₦213.301 billion.

A total of ₦5.276 billion was received by the Federal Government from the ₦35.171 billion Electronic Money Transfer Levy (EMTL). The State Governments received ₦17.585 billion, and the Local Government Councils received ₦12.310 billion.

From the ₦28.218 billion Solid Minerals revenue, the Federal Government received ₦12.933 billion, and the State Governments received ₦6.560 billion. The Local Government Councils received ₦5.057 billion, and a total sum of ₦3.668 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

The Augmentation of ₦178 billion was shared as follows: the Federal Government received ₦93.770 billion, the State Governments received ₦47.562 billion, and the Local Government Councils received ₦36.668 billion.

In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) increased significantly, while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded decreases.

Samuel Anyanwu, national secretary of the Peoples Democratic Party (PDP), has praised Nyesom Wike, minister of the federal capital territory, for supporting him while he faced a legal battle to be recognised as the party’s scribe.

On Friday, the supreme court nullified the judgement which sacked Anyanwu as national secretary of the PDP.

Anyanwu and Sunday Udeh-Okoye have been laying claim to the position of the national secretary of the opposition party.

“First, let me thank almighty God. I use this opportunity to ask those who are faithful to God to remain faithful because there is nothing God cannot do. I want to thank my leaders across the country, PDP faithful, who stood by the truth,” Anyanwu said after resuming at the party’s national secretariat.

“I also thank those who have put me in the situation I was. Without their challenges, I won’t come out the way I have come out. I still thank them. In everything, we are one family. We are a PDP family. This victory is victory for all PDP faithful. It is not a victory for me.

“I want to thank, in a very special way, my friend and my leader, the honourable minister for FCT, who also believed and supported me and gave me encouragement. Some of our governors too who believed in me and believed in the truth, who stood by me in all circumstances.

“I want to assure my colleagues in the NWC that we are one family. We are one family; we came here as a family, and we will leave as a family. We came the same day; we are going to leave the same day.

“I want to assure them that despite what has happened, we are humans. We can always err, but what matters is if you are honest and sincere about your repentance.”

Anyanwu said the leaders of the PDP will reshape the party ahead of the 2027 general election.

“Our aim is to win election in 2027. I want to plead with all those who are causing confusion in our party to please desist. This is the only party we have,” he said.

“We cannot destroy our home. We can’t destroy our bed, if we destroy our bed, we will sleep on the bed. Nigerians love PDP, so we are going to work hard, we are going to brainstorm to see how the party will come back again.”

He also urged those who have left the party to come back ahead of the 2027 polls.

The Sole Administrator of Rivers State, Ibok-Ete Ibas, has urged the contractor handling the State Assembly Complex project to speed up work and deliver it as agreed in the contract agreement.

The administrator gave the charge when he inspected the ongoing reconstruction of the new Assembly Complex, located along Moscow Road in Port Harcourt Local Government Area on Saturday.

The retired naval chief noted that part of his mandate included restoring full and effective legislative activities in the state.

Awarded to Monier Construction Company (MCC) Limited, work has advanced commendably on the project that has about 34 en-suite offices on a two-storey building with an elevator, gallery, meeting rooms, and conference hall.

The sole administrator explained that in the last two days of assumption of duties, he had noticed a missing pillar in the state governance structure, and he is determined to ensure that there is a place for effective legislative activities after six months.

He said, “I had been at the executive arm of the state governance structure and one of the pillars that is missing for now is the legislature and for them to function effectively, they also need a place to work from.

“And perhaps, I am yet to be sure that work is going on as expected. So that by the end of the six months, this place will be ready for those who need to use it.

“They (contractor) have a schedule and they have timelines that I believe they will like to adhere to.”

He said from the briefing he got, the state has done its bit by providing the necessary funds, noting that “the onus is on them (the contractor) to make sure that they keep to the terms”.

The retired vice admiral emphasised that he was appointed in the first place, to to maintain law and order, which will enable the state to go back to what it is supposed to be.

He was accompanied by the Head of Service of the State, George Nwaeke; and was conducted around the site by the General Manager of MCC, Omaka Oko.