FAAC Shares N6tr in Q3, Lagos Gets N179bn
Nigeria's FAAC disbursed a record N6 trillion in Q3 2025, with Lagos and oil-producing states receiving huge allocations. NEITI warns of fiscal risks as oil prices soften. Read the full breakdown.
Category : Search result: oil states revenue
Lagos Budget 10 Times Bigger Than Ekiti's in 2026
Nigerians react as 2026 state budget breakdown reveals Lagos's N4.24 trillion budget overshadows Ekiti's N415.57 billion. Citizens question transparency and impact on lives.
Trump Pitches Venezuela Oil to US Majors, Faces Doubts
US President Trump urges oil executives to invest in Venezuela's vast reserves post-Maduro capture, promising security. CEOs remain wary, citing past seizures and calling the nation 'uninvestable'.
Sahel States Condemn US Action in Venezuela
The Alliance of Sahel States has condemned the US removal of Venezuelan President Nicolas Maduro as an 'act of aggression'. Read the full story.
Venezuela Oil Ships Head to US as Storage Nears Capacity
Three Chevron-chartered tankers are transporting Venezuelan crude to the US, as sanctions cause a major storage buildup. Get the latest on the oil shipments and the looming capacity crisis.
CITN: Sustained Implementation Critical for Tax Reform
CITN President Innocent Ohagwa outlines the pillars for Nigeria's new tax reform success: sustained implementation, capacity building & stakeholder engagement. Learn how the reforms aim to harmonize taxes and boost revenue.
US to Control Venezuela Oil Sales Indefinitely
US Energy Secretary Chris Wright declares indefinite US control over Venezuelan oil sales, aiming to revive production with billions in investment. Details on the plan and its implications.
Why Silence on Sahel Military Alliances Endangers Africa
Legal expert Titilope Anifowoshe warns that Africa's muted response to military alliances in the Sahel region could reshape democracy and youth involvement on the continent. Read more.
Trump's 18-Month Plan for US Oil in Venezuela
US President Donald Trump outlines a timeline for American oil companies to expand operations in Venezuela within 18 months, following the capture of Nicolas Maduro. Details inside.
US Venezuela Oil Plan Poses Risk to Nigeria's 2026 Budget
Experts warn that US efforts to revive Venezuela's oil industry could destabilise Nigeria's 2026 budget, which relies heavily on uncertain oil earnings. Discover the potential impact and calls for diversification.
Nigeria's N58tr Budget Faces $10bn Hole from Venezuela Crisis
Political upheaval in Venezuela could flood oil markets, slashing prices and creating a $10 billion shortfall in Nigeria's 2026 budget. Experts warn of severe fiscal strain and pressure on the Naira. Read the full analysis.
Akwa Ibom Gov Ends Deals With All Revenue Contractors
Akwa Ibom State Governor, Pastor Umo Eno, has terminated all revenue contractors and consultants to ensure transparency and centralised collection. Discover the new reforms.
Benin, Niger in Diplomatic Expulsions Amid Tensions
West African neighbours Benin and Niger expel diplomats in a tit-for-tat move. Tensions have soared since Niger's 2023 coup and a failed putsch in Benin. Read the full details.
New Nigeria Revenue Service Logo Unveiled in Abuja
NRS Chairman Zacch Adedeji unveils the agency's new logo, signaling a commitment to a unified, efficient revenue system aligned with Nigeria's economic agenda. Read more.
10 States Plan N4.28tn Borrowing for 2026 Budgets
Ten Nigerian states plan to raise N4.287 trillion from loans and grants for their 2026 budgets, totaling N14.174tn. Experts warn of fiscal risks and weak revenue management.
FIRS Transforms to Nigeria Revenue Service in 2026
Nigeria's FIRS transitions to the Nigeria Revenue Service in January 2026, driven by four new laws. The reform promises streamlined tax processes, stronger oversight, and integrated revenue collection for better public finance management.
7 States Need US Airstrikes, Says Security Analyst
Policy analyst AbdulRasheed Hussain identifies Borno, Yobe, Kaduna, Zamfara, Niger, Plateau, and Benue as priority states for foreign military intervention to curb Nigeria's escalating insurgency.
State Debt Rises by N94.79bn in Three Months
Nigeria's 36 states and FCT saw domestic debt rise to N3.96tn in Q2 2025. Experts warn of a structural crisis as debt servicing eats into funds for health and education. Read the full analysis.
Fiji Leads Global Climate Action with 2026 Goals
Fiji is advancing renewable energy, community adaptation, and global advocacy, positioning itself as a climate leader. Discover how its 2026 vision offers hope and a model for action.
Kano Bans Cash Tax Payments from January 2026
Kano State will enforce digital-only tax payments from 2026 to curb revenue leakages. Experts urge public embrace of reforms for economic growth. Learn more.
Nigerian States With Lowest Petrol Prices Revealed
NBS data shows petrol prices fell 12.59% year-on-year in November 2025. See the top 10 cheapest states and the impact of NNPC and Dangote refinery price cuts.
Nigeria's Oil Revenue Falls 64% Short of Target in Q1 2025
The Federal Government's Q1 2025 budget report reveals a massive N8.21 trillion shortfall in oil revenue and a N3.04 trillion fiscal deficit. Discover the key figures and causes behind this critical shortfall.
Tin Can Customs Revenue Hits N1.57tr, Exceeds Target
Tin Can Island Port Customs generated N1.57 trillion, exceeding its annual target by N51.8 billion, driven by a surge in used vehicle imports. Read the full report on the revenue feat.
7 Proposed Nigerian States Scale 2nd Reading in 2025
In 2025, Nigeria's push for new states gained momentum as seven proposals, including Ibadan and Etiti, passed second reading. Explore the key bills and the drive for constitutional restructuring.
FIRS Hits ₦22.59tn Revenue, New Tax Laws Reshape System
Nigeria's FIRS closes 2025 with a record ₦22.59tn collection, driven by landmark tax reforms and technology. Discover how new laws and digital systems are redefining revenue generation for 2026.
Private Sector Joins Push for Stability in Nigeria
Key Nigerian private sector actors unite with civil society to design market-driven strategies for economic resilience and preventing violent extremism in fragile states. Discover the innovative plans.
Conoil Posts 60.5% Revenue Surge, Declares Dividend
Conoil Plc reports a massive 60.5% revenue growth to N323.1bn for 2024, proposing a N2.4bn dividend. Discover how Nigeria's downstream giant thrived despite economic headwinds.
Nigeria's Debt, Salaries Exceed Revenue in 2025
Nigeria's Federal Government spent more on debt servicing and salaries than it earned in 2025's first seven months, with a N10.19tn revenue shortfall. Oil earnings slumped over 60%. Read the full analysis.
Nigeria's 2025 Revenue Shortfall Hits N30 Trillion
Finance Minister Wale Edun reveals the Federal Government may fall short of its 2025 revenue target by N30 trillion. Discover the causes and government's response. Read more.
FG, States, LGs Share N1.9trn as FAAC Allocation Drops
The Federation Account Allocation Committee (FAAC) distributed N1.928 trillion for November 2025, a significant drop from October. See the full breakdown for FG, states, and LGs.
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