The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
Nigeria’s monthly Federation Account allocations have climbed past N2 trillion, a level the Federal Government says was unthinkable before 2023, when states routinely struggled to meet salary obligations on allocations averaging between N300 billion and N600 billion. Minister of Finance and Coordinating Minister of the Economy, Prof Taiwo Oyedele, disclosed the figures on Monday…
The N2.550 trillion that landed in the coffers of Nigeria’s three tiers of government for June carries a headline that is easy to read and a subplot that is far more consequential. The distributable sum, shared at the July meeting of the Federation Account Allocation Committee (FAAC) in Abuja, marks the highest monthly payout…
Zenith Bank has formally parted ways with its founder and group chairman, Jim Ovia, ending a remarkable three-and-a-half decade association that transformed the lender from a modest startup into one of Africa’s most profitable financial institutions. The bank disclosed the development in a corporate notice issued in Lagos on May 5, 2026, during its…
Nigeria’s gross revenue reached a cumulative N84tn over the last three years, yet 41.1% of these earnings never reached the federation’s distribution pool. Findings from the World Bank’s latest Nigeria Development Update reveal that “pre-distribution deductions” are quietly hollowing out the treasury. While total earnings climbed to N37.44tn in 2025, the amount siphoned off for…
The Federation Account Allocation Committee (FAAC) has disbursed N1.894 trillion to Nigeria’s three tiers of government for February 2026. The distribution, approved during a meeting in Abuja on Friday, saw the Federal Government take N675.088 billion, while the 36 states shared N651.525 billion. The 774 local government councils received N456.467 billion. Although the total shared…
In a definitive shift for Nigeria’s fiscal federalism, the 36 state governments saw their share of Value Added Tax (VAT) soar to ₦551.77 billion in January 2026. This represents a 30.4% increase from the previous month and marks the first distribution under the Nigeria Tax Act 2025. Under the new framework, the Federal Government’s take…
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.97 trillion for December 2025. This disbursement represents the collective revenue generated by the federation during the final month of last year. The committee distributed these funds among the Federal Government, the 36 states, and 774 local governments. This record-breaking figure reflects a significant…