News
FAAC Shares N1.7 tn Revenue to Federal, State, Lgs in February 2025

The Federal Account Allocation Committee (FAAC) has distributed a total revenue of N1.678 trillion among the federal, state, and local governments for February 2025.
The revenue distribution was announced in a statement issued on Saturday by the Director of Press and Public Relations, Bawa Mokwa. The allocation was finalised at the March 2025 FAAC meeting in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
Breakdown of Distributable Revenue
The total distributable revenue of N1.678 trillion comprised:
Statutory revenue – N827.633 billion
Value Added Tax (VAT) revenue – N609.430 billion
Electronic Money Transfer Levy (EMTL) revenue – N35.171 billion
Solid Minerals revenue – N28.218 billion
Augmentation – N178 billion
According to the FAAC communiqué, the total gross revenue available for February 2025 was N2.344 trillion. Deductions for the cost of collection amounted to N89.092 billion, while transfers, interventions, refunds, and savings stood at N577.097 billion.
The communiqué also revealed that gross statutory revenue for February 2025 was N1.653 trillion, which was N194.664 billion lower than the N1.848 trillion recorded in January 2025. Similarly, gross VAT revenue fell from N771.886 billion in January to N654.456 billion in February, reflecting a decrease of N117.430 billion.
Revenue Allocation to Tiers of Government
From the total N1.678 trillion distributable revenue:
Federal Government received – N569.656 billion
State Governments received – N562.195 billion
Local Government Councils received – N410.559 billion
Derivation revenue (13% of mineral revenue) to benefiting states – N136.042 billion
Allocation from Statutory Revenue (N827.633 billion)
Federal Government – N366.262 billion
State Governments – N185.773 billion
Local Government Councils – N143.223 billion
Derivation revenue (13%) – N132.374 billion
Allocation from VAT Revenue (N609.430 billion)
Federal Government – N91.415 billion
State Governments – N304.715 billion
Local Government Councils – N213.301 billion
Allocation from EMTL Revenue (N35.171 billion)
Federal Government – N5.276 billion
State Governments – N17.585 billion
Local Government Councils – N12.310 billion
Allocation from Solid Minerals Revenue (N28.218 billion)
Federal Government – N12.933 billion
State Governments – N6.560 billion
Local Government Councils – N5.057 billion
Derivation revenue (13%) – N3.668 billion
Allocation from Augmentation (N178 billion)
Federal Government – N93.770 billion
State Governments – N47.562 billion
Local Government Councils – N36.668 billion
Revenue Trends and Economic Outlook
The FAAC report highlighted a significant increase in Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) revenues for February 2025. However, there were declines in Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies compared to the previous month.
News
Tinubu at 73: FERMA House Committee Chair, Oseni Hails President’s Leadership

…Says Tinubu’s policies shaping Nigeria’s future
The Chairman, House of Representatives Committee on the Federal Roads Maintenance Agency, (FERMA), Engr. Aderemi Oseni has congratulated President Bola Tinubu on his 73rd birthday, describing him as a transformative leader whose commitment to national development remains unwavering.
In a statement on Saturday by his media aide, Idowu Ayodele and made available to journalists in Ibadan, the lawmaker, who also represents Ibarapa East/Ido Federal Constituency in the House of Representatives, praised Tinubu for his visionary leadership and dedication to Nigeria’s progress. According to him, the President’s political trajectory and governance philosophy have laid the foundation for a more prosperous nation.
“President Tinubu’s contributions to Nigeria’s political and economic development are unparalleled. His leadership has inspired a new era of governance rooted in progressive ideals and economic transformation,” Oseni said.
The lawmaker highlighted the President’s role in fostering democratic growth, strengthening institutions, and implementing key economic reforms aimed at stabilising the nation. He added that Tinubu’s policies, particularly in infrastructure and road rehabilitation, are crucial to Nigeria’s long-term development.
Oseni commended Tinubu for prioritising road infrastructure, stating that a well-maintained road network is essential for economic expansion and national cohesion. He pledged his committee’s continued support in ensuring that FERMA’s projects align with the administration’s Renewed Hope Agenda.
Beyond infrastructure, the lawmaker lauded Tinubu’s economic policies, including efforts to attract foreign investments and promote industrialisation. He expressed optimism that the government’s initiatives would yield tangible results, urging Nigerians to remain patient as reforms take shape.
“As a nation, we must rally behind the President’s agenda for economic recovery. Nation-building is a collective effort, and we must support policies that drive growth, stability, and prosperity,” he stated.
Oseni prayed for the President’s good health and strength, urging leaders across the country to emulate Tinubu’s resilience, strategic foresight, and inclusive governance.
News
Olugbon, Olori Mourn Abisola Kola-Daisi, Commiserate with Ajimobi, Kola-Daisi Families

The Olugbon of Orile-Igbon and Vice Chairman of the Oyo State Council of Obas and Chiefs, Oba Francis Olushola Alao, alongside his wife, Olori Olushola Adedoyin Alao, has expressed deep sorrow over the sudden passing of Mrs. Abisola Kola-Daisi, daughter of the late Governor Abiola Ajimobi and Chief (Mrs.) Florence Ajimobi.
In a jointly signed condolence message, the royal couple described the news as heartbreaking, especially coming just five years after the demise of the former Governor of Oyo State, Senator Abiola Ajimobi.
They extended their sympathies to Mr. Idris Kolapo Kola-Daisi, Abisola’s husband, their children, as well as Chief Kola Daisi and the entire Kola-Daisi family, urging them to find strength in this difficult time.
“This tragic loss has brought sorrow to the hearts of friends, relations, and well-wishers of the esteemed Ajimobi and Kola-Daisi families. Bisola’s warm smile brightened the lives of those around her, and she carried herself with grace, nobility, and kindness,” the statement read.
Praying for divine comfort and fortitude for the bereaved families, the Olugbon and Olori noted that though Abisola’s life was brief, it was impactful and meaningful.
“We urge the family to take solace in the remarkable life she lived. A short but impactful life is truly valuable. May Almighty Allah grant her Aljanna Firdaus,” they added.
The royal couple also prayed that God would grant Chief (Mrs.) Ajimobi, her children, and the entire Kola-Daisi family the strength to bear the irreparable loss.
News
Rep. Oseni Condoles Late Gov. Ajimobi, Kola-Daisi Families Over Bisola’s Passing

The Chairman of the House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has expressed deep sorrow over the passing of Mrs Bisola Kola-Daisi, daughter of the late former Governor of Oyo State, Senator Abiola Ajimobi.
Oseni, who represents Ibarapa East/Ido Federal Constituency, described Bisola’s death as a tragic loss not only to her family but also to the wider Oyo State community.
In a condolence message issued on Thursday by his media aide, Idowu Ayodele, and made available to journalists in Ibadan, the lawmaker sympathised with the Ajimobi and Kola-Daisi families, praying for divine strength and comfort in their time of grief.
“I am deeply saddened by the passing of Mrs Bisola Kola-Daisi. My heart goes out to the Ajimobi and Kola-Daisi families, especially, our late leader’s widow, Mrs. Florence Ajimobi during this painful period. May God grant them the fortitude to bear this irreplaceable loss,” he said.
The All Progressives Congress (APC) chieftain urged the late governor’s wife, Chief Florence Ajimobi and other members of the bereaved families to find solace in Bisola’s impactful life. He emphasised that, beyond being the daughter of a respected former governor, she distinguished herself as a businesswoman and philanthropist, leaving behind a remarkable legacy.
“Bisola was a woman of substance who made significant contributions to society. Her kindness, dedication, and commitment to excellence will always be remembered,” Oseni added.
The lawmaker also extended his condolences to Bisola’s husband, Mr Idris Kola-Daisi, acknowledging the immense pain he must be experiencing. He prayed for divine strength for him and the entire Kola-Daisi family as they navigate this difficult time.
Oseni further called on the public to keep the bereaved families in their thoughts and prayers. He prayed that Almighty God grants Bisola eternal rest and gives her loved ones the resilience to endure the painful loss.
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