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Nigeria News (Standard)

Lagos, Rivers, Oyo, Kano, Akwa Ibom Collect ₦87bn as April VAT Disbursement Hits Record High

FAAC report shows five states received over one-fifth of VAT allocation after new tax law raised states’ share to 55%

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FAAC report shows five states received over one-fifth of VAT allocation after new tax law raised states’ share to 55%

Five states—Lagos, Rivers, Oyo, Kano and Akwa Ibom—shared a total of ₦87 billion in value-added tax (VAT) revenue for April 2026, according to the latest Federation Account Allocation Committee (FAAC) report released by the National Bureau of Statistics (NBS). The figure represents about 21.2 percent of the total ₦410.9 billion distributed among Nigeria’s 36 states under the revised VAT sharing formula.

The disbursement followed the implementation of the Nigeria Tax Act 2025, which increased states’ share of distributable VAT from 50 to 55 percent while reducing the Federal Government’s portion from 15 to 10 percent. This adjustment aims to boost state finances and decentralise fiscal control amid rising demands for improved public services at subnational levels.

Lagos State led all recipients with ₦35.03 billion, accounting for about 8.5 percent of the total allocation to states. Rivers State followed with ₦21.29 billion (5.2 percent), while Oyo collected ₦12.33 billion (three percent). Kano and Akwa Ibom received ₦9.31 billion and ₦9.04 billion respectively, rounding out the top five beneficiaries for April.

The FAAC report attributed the higher allocations to both robust economic activity in these states and changes introduced by the new tax legislation. Economic analysts say the increased state share could help address infrastructure gaps if properly managed, but have called for greater transparency in how funds are spent.

NBS officials noted that the new arrangement is expected to continue strengthening state budgets in coming months as more VAT revenue is channelled directly to subnational governments. Stakeholders have urged State Assemblies and civil society groups to intensify oversight on fund utilisation in order to ensure improved service delivery across all regions.

Source: https://guardian.ng/business-services/five-states-receive-21-2-per-cent-of-vat-disbursement-in-april/

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Nigeria News (Standard)

Bandits Kill Nine Farmers in Fresh Attack on Kaduna Community

Local residents say incident occurred on Tuesday as security agencies intensify patrols in Giwa LGA after recent violence

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June 23, 2026

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Local residents say incident occurred on Tuesday as security agencies intensify patrols in Giwa LGA after recent violence

Nine farmers have been killed by armed men in a renewed attack on a rural community in Kaduna State, North-West Nigeria. The incident reportedly took place on Tuesday, June 23, in Giwa Local Government Area, where a series of violent raids have disrupted farming activities this rainy season.

According to local accounts, the bandits invaded the area in the early hours while residents were working on their farmlands. The assailants opened fire indiscriminately, leading to the deaths of at least nine people before fleeing into nearby bushland. Several villagers sustained injuries and are currently receiving medical attention at local health centres.

Kaduna has witnessed a surge in attacks targeting farming communities, especially during planting and harvest periods. Analysts say such violence threatens food production and worsens insecurity across the North-West geopolitical zone. Many residents have abandoned their farmlands due to fear, while others call for increased government intervention.

Security agencies are yet to release an official statement on the latest killings. However, local vigilance groups told reporters they are working with police and military patrols to search for the attackers and prevent further incidents. Community leaders also urged authorities to reinforce deployments in Giwa LGA and support affected families.

The Kaduna State government has repeatedly condemned these attacks and assured residents of ongoing efforts to restore peace. As at press time, no arrests had been made in connection with Tuesday’s incident.

Source: https://www.premiumtimesng.com/news/headlines/889893-bandits-invade-kaduna-community-kill-nine-farmers.html

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Nigeria News (Standard)

AFN Warns U.S. Coach Shaver Over Favour Ofili’s Non-Participation at Lagos Trials

Federation disputes Shaver’s claim as athlete’s blocked switch to Turkey sparks fresh controversy in Nigerian athletics

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June 23, 2026

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Federation disputes Shaver’s claim as athlete’s blocked switch to Turkey sparks fresh controversy in Nigerian athletics

The Athletics Federation of Nigeria (AFN) has cautioned American coach Dennis Shaver against making statements they say could mislead Nigerian sprinter Favour Ofili, following her absence at the ongoing National Commonwealth Games Trials holding at YABATECH, Lagos, which conclude today. Shaver had recently announced that Ofili would not compete at the trials, a claim the AFN disputes amid ongoing debate over her eligibility for Team Nigeria.

Ofili, who hails from Delta State, was reportedly listed for a sprint event that would have seen her join Nigeria’s squad for the upcoming Commonwealth Games in Glasgow this July. However, her competitive future became unclear after she attempted to switch nationality to Turkey earlier in the year—a move blocked by World Athletics over concerns about international competition integrity.

The athlete’s failed application followed a turbulent period marked by her exclusion from the Tokyo 2020 Olympic Games and alleged issues with her registration for the women’s 100m event at the Paris 2024 Olympics. These frustrations led Ofili to request a change of allegiance last year, but World Athletics’ intervention has left her status unresolved and sparked speculation about a possible return to Team Nigeria.

Reacting online, Coach Dennis Shaver stated: “Favour has not and will not be competing or entering the Nigerian Commonwealth Games Trials,” in response to reports linking Ofili to events in Lagos. The AFN, however, insisted that misleading public statements could jeopardise both the athlete’s career and Nigeria’s preparations for major competitions.

With selection for Glasgow imminent and questions over athlete allegiance lingering, stakeholders in Nigerian athletics are calling for clarity from all parties involved. The AFN is expected to issue further guidance on Ofili’s eligibility as it seeks to finalise Team Nigeria’s contingent ahead of international commitments.

Source: https://guardian.ng/sport/stop-misleading-favour-ofili-afn-tells-u-s-coach-shaver/

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Nigeria News (Standard)

Federal Government Projects 353% Surge in Lithium Demand by 2040, Eyes Nasarawa Investments

UNCTAD report highlights Nigeria’s growing role as global clean energy transition drives scramble for critical minerals

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June 23, 2026

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UNCTAD report highlights Nigeria’s growing role as global clean energy transition drives scramble for critical minerals

The Federal Government has projected a significant increase in global demand for lithium, with estimates showing a 353 percent rise by the year 2040, according to new findings from the United Nations Conference on Trade and Development (UNCTAD). This projection, released on Sunday, underscores the urgency surrounding Nigeria’s lithium reserves, particularly as international focus shifts to clean energy technologies.

UNCTAD’s latest report indicates that as countries intensify efforts to reduce carbon emissions and scale up electric vehicle (EV) production, minerals crucial to energy transition—including lithium, nickel, and rare earth elements—will experience sharp increases in demand. The share of nickel used in clean energy applications is expected to rise from 17 percent to 42 percent globally by 2040. Magnet rare earths, vital for wind turbines and electric motors, are also projected to see their share grow from 21 percent to 31 percent within the same period.

For Nigeria, these trends carry direct economic implications. The country has emerged as a significant player in the lithium sector, with states such as Nasarawa recording major discoveries and attracting interest from both local and foreign investors. The Federal Government has previously disclosed plans to establish a ₦600 million lithium processing plant in Nasarawa State as part of wider efforts to develop value chains around the mineral.

While the government continues to promote investment in mining infrastructure and local processing capacity, industry analysts warn that effective regulation is crucial to ensure transparency and equitable benefit for host communities. They have called on authorities to enforce environmental standards and prioritise job creation for Nigerians within the sector. No official statement has yet been released by the Ministry of Solid Minerals Development on the new UNCTAD projections.

Experts say that if well-managed, Nigeria’s lithium sector could provide an alternative revenue stream amid fluctuating oil receipts and contribute significantly to economic diversification. However, they stress that more must be done to prevent illegal mining activities and ensure community development agreements are strictly implemented.

Source: https://guardian.ng/business-services/demand-for-lithium-to-surge-353-by-2040-amid-scramble-for-nigerias-deposit/

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