By Our Reporter

The total sum of N2.036 trillion for March 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.

Bawa Mokwa, Director of Press Public Relations, said in press release on Wednesday, that the revenue was shared at the April 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N2.036 trillion total revenue comprised distributable statutory revenue of N1.320 trillion, distributable Value Added Tax (VAT) revenue of N515.391 billion and Augmentation of N200 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N2.

364 trillion was available in the month of March 2026. Total deduction for cost of collection was N81.084 billion while total transfers, refunds and savings was N246.872 billion and Augmentation of N200 billion.

According to the communiqué, gross statutory revenue of N1.699 trillion was received for the month of March 2026, which was higher than the N1.561 trillion received in the preceding month by N137.914 billion.

Gross revenue of N664.425 billion was available from the Value Added Tax (VAT) in March 2026. This was lower than the N668.450 billion available in the month of February 2026 by N4.025 billion.

The communiqué added that from the N2.036 trillion total distributable revenue, the Federal Government received a total sum of N789.159 billion and the State Governments received a total sum of N657.596 billion.

The Local government Councils received N468.826 billion, while the sum of N120.759 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

On the N1.320 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N632.260 billion and the State Governments received N320.691 billion.

The Local Government Councils received N247.239 billion and the sum of N120.759 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N515.391 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N51.539 billion, the State Governments received N283.465 billion and the Local Government Councils received N180.387 billion.

By Aliyu Musa

The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, has delivered a characteristically direct and pragmatic assessment of Nigeria and Africa’s energy future.

He stated this at the CERAWeek 2026, declaring that the country’s fundamentals are strong, its value proposition clear, and its focus now squarely on execution.

Speaking on the opening day of the world’s premier energy gathering, held under the theme “Convergence and Competition: Energy, Technology and Geopolitics,” Ojulari told a global audience of energy leaders, including C-suite executives, energy secretaries and government ministers, that Nigeria’s strategy is grounded in realism, partnership, and disciplined delivery.

“Capital goes where value is clear, and Nigeria has that value,” he stated, setting the tone for a leadership dialogue that outlined a pragmatic approach to balancing the country’s immediate energy needs with its long-term transition ambitions. The GCEO articulated NNPC’s core philosophy with characteristic clarity: “We are not choosing between today and tomorrow; we are funding the future with the present.”

At the fireside chat anchored by Dan Pratt, S&P Global’s Senior Vice President, Upstream Solutions, Ojulari explained that Africa remains dependent on hydrocarbons for revenue and foreign exchange, making sustained upstream production non-negotiable. Additionally, with over 600 trillion cubic feet of proven reserves, gas represents not merely a transition fuel but a strategic economic lever for industrialisation and energy security across the continent.

According to the GCEO, “Nigeria is the reliable destination for energy investment the world needs. The country has positioned itself as a dependable supplier, riding on the established legacies of stable policies, improved energy infrastructure security, partnerships, and, lastly, the orientation of the government. The President has given NNPC the autonomy to act on its behalf and consolidate commercial solutions that are long-lasting.”

“Balance is not about equal allocation; it is about optimal sequencing,” Ojulari stated, outlining a portfolio where oil sustains value today, gas underpins industrial growth, and transition investments are targeted and disciplined. He further highlighted the critical role of partnerships in de-risking Nigeria’s deepwater assets, noting that global players like Shell and Eni bring not only capital but execution capability, technology, and project discipline—particularly for assets like OPL 245 and other deepwater developments.

According to the oil executive, the Petroleum Industry Act (PIA) has now firmly established regulatory certainty, while infrastructure gaps are being closed through targeted investments and security is being strengthened through a more robust architecture. “When the fundamentals are right, partnerships scale naturally,” he added.

Addressing Nigeria’s long-discussed gas potential, the GCEO noted that what is different now is execution discipline. Three key enablers are receiving focused attention: commercial pricing across the value chain, critical infrastructure like the AKK (Ajaokuta-Kaduna-Kano) pipeline, and bankable contracts that provide investor certainty. On the balance between domestic gas needs and LNG exports, Engr. Ojulari described a dynamic approach of portfolio optimisation—allocating gas where it delivers the highest combined national and commercial value.

The GCEO articulated a clear strategic shift, moving from resource ownership to resource monetisation. He emphasized that unlocking Nigeria’s significant proven but undeveloped reserves requires commercial discipline, competitive fiscal frameworks, and strong partnerships. Deepwater remains a priority because it offers scale, it is less exposed to onshore challenges, and attracts global capital.

CERAWeek 2026, hosted by S&P Global, runs from March 23–27 in Houston, Texas, bringing together over 10,000 global energy leaders, executives, and officials to explore the convergence of energy, technology, and geopolitics.

By Wumi Tewogbade, Abuja

A Magistrates’ Court sitting in Wuse Zone 2, Abuja, on Wednesday adjourned to April 16, 2026, a suit filed by the National Association of Private School Owners (NAPS) against the Federal Capital Territory Administration (FCTA) and the Abuja Municipal Area Council (AMAC) over alleged multiple taxation, while urging all parties to explore amicable resolution through dialogue.

The court, after preliminary proceedings, emphasized the need for restraint and constructive engagement among the parties, noting that dialogue remains a viable path toward resolving the dispute without prolonged litigation.

NAPS had approached the court challenging what it described as overlapping and multiple tax demands imposed on private schools by both the FCTA and area councils, particularly AMAC.

Speaking to journalists shortly after the sitting, counsel to the association, Alexander N. Ogbo, confirmed the adjournment and provided insight into the substance of the case.

According to him, the dispute arose from what ought to be an institutional policy matter ordinarily handled by area councils in their dealings with schools, but which has now seen intervention from the FCTA through its agencies.

He explained that the development has resulted in multiple taxation, with schools receiving similar demands from AMAC, other area councils, and departments of the FCTA on the same issues.

“This overlap is creating institutional conflict and disrupting the smooth operation of schools, including their academic activities,” he said, adding that the situation has become increasingly serious.

Ogbo stressed that the core issue before the court is the challenge against multiple taxation, noting that private schools are caught in the middle of competing authorities.

“As the saying goes, when two elephants fight, the grass suffers. In this case, the schools are the grass, while the ‘elephants’ are the FCTA Health Department and AMAC,” he stated.

He further called on the FCTA and area councils to harmonize their responsibilities and establish a unified regulatory framework that would provide clarity for private school operators.

“Schools are not opposed to regulation; we simply need clarity. At the moment, there is confusion as to whether to comply with AMAC or the FCTA’s Public Health Department,” he added.

On the role of the court, the counsel noted that it is providing a neutral platform for all parties to present their cases and clarify procedural concerns, particularly regarding demand notices issued by the FCTA’s Health Department.

He also reiterated the association’s openness to settlement, emphasizing that dialogue remains the preferred option if the authorities are willing to engage constructively.

In her remarks, President of NAPS, Rukayat Agboola, maintained that private schools recognize regulatory oversight but insisted that such processes should be streamlined through the appropriate authority, particularly the Education Secretariat.

She said the association prefers that all directives concerning schools be channeled through a single regulatory body to avoid confusion and duplication.

Some members of the association who spoke to journalists described private schools as critical partners in national development, contributing to education and employment, and cautioned against treating them as revenue sources.

They decried what they termed excessive and multiple levies, including a controversial child-based tax reportedly pegged at five per cent of tuition fees per term, warning that non-compliance could affect school accreditation.

The plaintiffs are seeking judicial intervention to halt the alleged multiple taxation and compel the relevant authorities to streamline their regulatory and fiscal responsibilities.