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Nigeria News (Standard)

FAAC Allocates ₦2.26trn to Federal, State and Local Governments in April Revenue Sharing

Disbursement follows Abuja meeting as statutory revenue and VAT collections see significant rise over previous month

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3 days ago

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Disbursement follows Abuja meeting as statutory revenue and VAT collections see significant rise over previous month

The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦2.257 trillion to the federal, state and local governments for April 2026, following its monthly meeting held in Abuja in May. This allocation represents a notable increase in revenue sharing, according to a communiqué released by FAAC on Sunday.

The latest distribution comprises ₦1.26 trillion from distributable statutory revenue, ₦747.09 billion from value-added tax (VAT), and an augmentation of ₦250 billion to support government finances at all levels. FAAC stated that gross federation revenue for April stood at ₦3.184 trillion, with deductions for cost of collection amounting to ₦113.76 billion and a further ₦813.84 billion transferred for refunds and savings.

According to the communiqué, gross statutory revenue received in April reached ₦2.378 trillion, marking an increase of ₦678.22 billion compared to the preceding month’s figure of ₦1.699 trillion. The committee did not specify the factors behind this uptick but noted that stronger statutory receipts contributed significantly to overall disbursements for the period.

Minister of Finance Taiwo Oyedele said the allocation underscores government’s commitment to ensuring regular funding for all tiers of government despite economic headwinds. “Timely distribution of federation revenue is critical for states and LGAs to meet salary obligations and fund ongoing projects,” Oyedele said in a written statement after the Abuja meeting.

State governments have welcomed the higher allocation but called for continued reforms in revenue generation and transparency on deductions made before final disbursement. Opposition figures were yet to issue formal responses as at press time.

With inflation standing at 33.7 percent in April according to National Bureau of Statistics data, analysts say prompt release of federal allocations will help subnational governments cushion rising costs but caution that sustainable growth depends on boosting non-oil revenues in the months ahead.

Source: https://guardian.ng/business-services/faac-disbursed-n2-26-trillion-to-fg-states-lgs-in-april/

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Nigeria News (Standard)

Lagos Residents Embrace Perfume as Status Symbol, Redefining Everyday Luxury

Fragrance sales surge in Lagos as consumers seek scents that match lifestyle needs and withstand city conditions

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June 19, 2026

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Fragrance sales surge in Lagos as consumers seek scents that match lifestyle needs and withstand city conditions

Perfume shopping in Lagos has taken on new significance, with residents now viewing fragrance as an essential part of daily self-expression and status. On a recent busy weekend in the city, shoppers could be seen searching for scents tailored to different needs—softer fragrances suitable for office environments, bolder options for social events like weddings, and long-lasting products designed to endure Lagos traffic and heat.

The shift highlights a growing trend where fragrance has moved beyond its traditional role of personal hygiene to become a marker of sophistication and individual taste. Retailers report that customers are no longer satisfied with generic products; instead, they are demanding perfumes that reflect their personality and can stand up to the challenges of the Nigerian climate.

Industry observers note that this trend speaks to broader changes in how Nigerians perceive luxury. With increasing awareness about global brands and local alternatives alike, perfume is now seen not just as an accessory but as a daily essential—one that signals class and attention to detail. The demand cuts across age groups and income brackets, showing that personal grooming is now intertwined with self-worth and public perception.

While official sales figures were not disclosed, store owners in Lagos say demand continues to rise, especially among young professionals and socialites who value both quality and presentation. As fragrance becomes more embedded in Nigerian culture, experts predict further growth in the sector, with local entrepreneurs also entering the market alongside established international brands.

The evolving fragrance market underscores how Nigerians are redefining luxury on their own terms—prioritising practicality, resilience, and personal identity over conspicuous consumption. As these preferences take root, industry stakeholders expect continued innovation to meet the complex expectations of Nigeria’s increasingly discerning consumers.

Source: https://guardian.ng/life/the-new-luxury-is-personal-how-fragrance-became-nigerias-everyday-status-symbol/

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Nigeria News (Standard)

Lagos Set to Host Black African History Awards as Sports Icons Take Spotlight

Event organisers urge government and private sector support to honour global Black excellence and inspire Nigerian youth

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June 19, 2026

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Event organisers urge government and private sector support to honour global Black excellence and inspire Nigerian youth

Lagos State will host the maiden edition of the Black African History Global Iconic Awards (BAHGIA) on July 5, 2026, with organisers highlighting sports, youth empowerment, and the celebration of African achievement as central themes. The announcement was made by Ambassador Lovethpatra Ekufu, President of BAHGIA and a former Nigerian kickboxing and Mixed Martial Arts (MMA) champion.

The awards ceremony, scheduled for Lagos, is designed to recognise outstanding Africans and people of African descent who have made significant contributions in sports and other fields but remain under-celebrated on the global stage. Organisers have called on government agencies, corporate organisations, and development partners to support the initiative, describing it as a unique platform to spotlight African excellence.

Speaking on behalf of the organisers, Ekufu explained that the vision behind BAHGIA is to showcase stories of successful Africans whose achievements can inspire the next generation. “We discovered that Black people across the world are under-celebrated despite their outstanding contributions. This award is designed to…” she said.

The event comes at a time when calls for greater recognition of African achievements in sports and beyond have gained momentum both locally and internationally. Organisers believe that celebrating these icons will not only boost national pride but also encourage young Nigerians to pursue excellence in their chosen fields.

With preparations underway for the July ceremony, stakeholders are expected to rally around the project to ensure its success. Organisers say they will continue engaging relevant authorities and potential sponsors in the lead-up to the awards night.

Source: https://guardian.ng/sport/lagos-to-host-black-african-history-global-iconic-awards-as-sports-takes-centre-stage/

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Nigeria News (Standard)

Nnamdi Kanu, Former Ally Announce Rival Leadership in IPOB Amidst Fresh Dispute

Conflicting claims over Indigenous People of Biafra’s top post spark confusion among supporters and raise fresh questions about succession

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June 19, 2026

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Conflicting claims over Indigenous People of Biafra’s top post spark confusion among supporters and raise fresh questions about succession

A fresh leadership tussle has erupted within the Indigenous People of Biafra (IPOB) as its detained leader, Nnamdi Kanu, and a former close ally have separately announced changes to the group’s top hierarchy. The development, which unfolded on Friday, has thrown IPOB’s command structure into uncertainty, especially across its strongholds in the South-East.

The disagreement began when Nnamdi Kanu, who remains in detention facing trial by the federal government, reportedly issued a directive replacing certain key officers within IPOB. Shortly after, a prominent former disciple of Kanu released a contradictory statement claiming to have assumed leadership of the group and announcing an alternative set of appointments.

This open rift marks one of the most public succession disputes within IPOB since Kanu’s arrest and ongoing trial on charges related to treasonable felony. The situation has heightened anxiety among members and observers about the direction of the separatist movement at a time when security agencies are maintaining a heavy presence across several South-East states.

Neither side has released detailed explanations for their actions. However, supporters loyal to Kanu insist he remains the authentic leader regardless of his incarceration. Meanwhile, followers of the former disciple argue that decisive action was needed to keep IPOB operational given Kanu’s prolonged absence from direct leadership.

The federal government has not issued an official statement regarding the latest leadership crisis. Political analysts note that internal disputes could affect IPOB’s influence and operational capacity in coming months. Many South-East residents are watching closely for possible fallout or further security clampdowns as tensions persist.

Source: https://www.premiumtimesng.com/news/headlines/888943-nnamdi-kanu-ex-disciple-announce-conflicting-leadership-changes-in-ipob.html

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