Nigeria News (Standard)
FAAC Shares ₦2.3trn May Revenue as Nigerians Decry Heavy VAT Burden on Goods
Consumers question impact of increased federal allocations while many feel rising taxes on everyday purchases
Consumers question impact of increased federal allocations while many feel rising taxes on everyday purchases
The Federation Account Allocation Committee (FAAC) has distributed a record ₦2.3 trillion among the Federal Government, state governments and local government councils for May 2026, prompting fresh debate among citizens in Lagos and across Nigeria over how these funds are being used. The disbursement, which represents an increase from the ₦2.26 trillion shared in April, was announced by FAAC in Abuja on Tuesday.
According to the committee’s communiqué, the revenue comprised ₦1.611 trillion from statutory sources and ₦688.8 billion generated through Value Added Tax (VAT). Gross revenue for the month reached ₦3.395 trillion, with ₦123.5 billion deducted as collection costs and ₦971.6 billion earmarked for transfers, interventions and refunds.
Despite the higher allocation, many Nigerians took to social media to express frustration over what they described as a lack of visible improvement in infrastructure, healthcare or public welfare at the grassroots level. One Lagos-based consumer shared that he paid over ₦300,000 in VAT alone when buying electronic appliances recently, using his experience to highlight concerns about the burden of Nigeria’s 7.5% VAT on basic goods.
FAAC disclosed that while statutory revenue increased significantly in May to ₦2.651 trillion from ₦2.378 trillion in April, VAT earnings actually dropped from ₦806.6 billion to ₦743.7 billion within the same period. The committee also noted that collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Petroleum Profit Tax (PPT), Hydrocarbon Tax and Oil and Gas Royalties all saw notable increases during the month, but Import Duty, Excise Duty and CET Levies declined.
From the latest allocation, the Federal Government received ₦818.7 billion; states got ₦759.1 billion; local government councils received ₦534.3 billion; while oil-producing states were given an additional ₦188.1 billion under the 13% derivation formula.
Reactions online captured a growing sense of disillusionment among ordinary Nigerians regarding how public resources are managed and spent at all levels of government. One user wrote: “₦2.3 trillion was shared in one month and ordinary Nigerians are still asking where the impact is.” Others called for greater accountability not only from federal authorities but also from state and local governments responsible for delivering essential services.
As at press time, government officials had yet to respond directly to these concerns but have previously stated that revenue allocations are meant to fund ongoing projects and address fiscal challenges across sectors including education, health and security.
Nigeria News (Standard)
Presidential Media Team Hails Abia Progress Under Governor Otti’s Leadership
Renewed Hope team says Abia State witnessing positive transformation, credits Otti’s policies for steady development
Renewed Hope team says Abia State witnessing positive transformation, credits Otti’s policies for steady development
The Renewed Hope Presidential Media Team has commended Abia State for what it described as remarkable progress under the administration of Governor Alex Otti. The team made this assertion on Thursday, highlighting visible improvements since Otti assumed office in the South-East state.
According to the media team, the strides recorded in Abia reflect effective governance and a clear commitment to transforming key sectors. The statement noted that critical infrastructure and service delivery have improved, attributing these gains to the governor’s leadership approach and policy direction.
Abia State has faced longstanding challenges, including poor road networks, inadequate healthcare facilities, and unemployment. Observers say recent efforts by the current administration have begun to address these issues, with the government prioritising infrastructural rehabilitation and public service reforms.
The Renewed Hope Presidential Media Team stressed that their assessment is based on observed developments and ongoing projects in Abia. They maintained that such progress aligns with national expectations for state-level performance. While some critics argue that more needs to be done in certain areas, the team said Otti’s tenure has already set a new standard for governance in the region.
With the spotlight now on further delivery of campaign promises, residents and political stakeholders are watching to see how Governor Otti’s administration will sustain its current momentum. The media team expressed optimism that continued focus on transparency and people-oriented policies could consolidate recent achievements across Abia State.
Nigeria News (Standard)
Abuja Experts Demand Urgent FG Action as 68% of Nigerians Rely on Firewood for Cooking
Environmental leaders say over 140 million households risk health, urge accelerated shift to clean energy solutions
Environmental leaders say over 140 million households risk health, urge accelerated shift to clean energy solutions
Environmental experts have called on the Federal Government to fast-track measures for expanding clean cooking access across Nigeria, warning that continued reliance on firewood and other biomass fuels poses serious health and environmental risks. The appeal was made during a workshop held in Abuja on Tuesday, with stakeholders stressing the urgent need for coordinated national action.
Executive Director of the International Centre for Energy, Environment and Development, Ewah Eleri, revealed at the event that as at now, an estimated 68.3 percent of Nigerian families still cook with firewood. According to Eleri, this widespread use of solid biomass contributes up to seventeen percent of Nigeria’s total greenhouse gas emissions—undermining national commitments under the Paris Agreement and Sustainable Development Goals.
The experts highlighted that women bear the brunt of the problem, facing increased health challenges and time poverty due to indoor air pollution linked to traditional cooking methods. “Indoor air pollution from these fuels is responsible for about 95,300 deaths annually in Nigeria,” Eleri stated. He described the situation as a public health emergency requiring urgent strategic solutions.
Despite some recent policy momentum from government, stakeholders at the workshop pointed out that financing for clean cooking remains constrained by regulatory bottlenecks, fragmented sector coordination and low investor confidence. “We need sustainable performance-based revenue models and stronger compliance frameworks if we want private sector participation and real impact,” Eleri said.
Participants called on federal authorities to prioritise clean cooking initiatives in forthcoming policies and budgetary allocations. They also urged closer collaboration between ministries and development partners to ensure implementation targets are met. With over 140 million households affected nationwide, experts warn that delays could deepen energy poverty and worsen Nigeria’s environmental footprint.
Nigeria News (Standard)
MTN CEO Warns Against Boycott as Anti-Xenophobia Protests Target South African Firms in Ghana
Ralph Mupita urges restraint, says retaliatory actions threaten African economies as demonstrations hit Accra MTN office
Ralph Mupita urges restraint, says retaliatory actions threaten African economies as demonstrations hit Accra MTN office
MTN Group Chief Executive Officer Ralph Mupita has cautioned against calls to boycott South African-owned businesses following fresh anti-xenophobia protests that reached MTN’s offices in Accra, Ghana, on Tuesday. The warning comes as campaigners in Nigeria and other African countries intensify demands for the expulsion of South African firms in response to ongoing attacks on foreign nationals in South Africa.
Protesters gathered outside the MTN Ghana head office, demanding that South African businesses leave the country. The demonstration follows a surge of social media campaigns across West Africa calling for economic retaliation after reports of violence against immigrants resurfaced in Johannesburg and other parts of South Africa. Despite the mounting tension, MTN said its operations have not yet been directly affected but noted increased sensitivity in major markets including Nigeria and Ghana.
MTN, Africa’s largest telecommunications company, operates in over 20 countries on the continent. Addressing the situation, Mupita argued that companies like MTN should not be judged solely by their country of origin. “MTN makes less than 20% in South Africa and makes 80% of our earnings elsewhere,” he told Bloomberg. He emphasised that undermining pan-African businesses could harm broader economic integration efforts like the African Continental Free Trade Area (AfCFTA), which seeks to boost cross-border trade and investment.
The MTN boss also linked the current crisis to Africa’s demographic realities, noting that with nearly 70 percent of sub-Saharan Africa’s population under 30 years old, investment in digital infrastructure is critical for job creation. “MTN also believes that embracing the benefits of the digital economy is vital to turning the youth bulge we have in Africa into a youth dividend,” Mupita said.
His comments came days after South Africa’s Justice Minister Mmamoloko Kubayi acknowledged that xenophobic incidents were already costing South African artists performance opportunities abroad and damaging the country’s reputation. While protests continue outside some South African-owned businesses across West Africa, MTN has urged dialogue rather than economic isolation as a way forward.
Presidential Media Team Hails Abia Progress Under Governor Otti’s Leadership
Abuja Experts Demand Urgent FG Action as 68% of Nigerians Rely on Firewood for Cooking
MTN CEO Warns Against Boycott as Anti-Xenophobia Protests Target South African Firms in Ghana
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