By Sam Otuonye 

The Federal Government has completed the payment of ₦18.96 billion in Back-End Computation (BEC) arrears to eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Scheme (DBS), bringing the outstanding liability covered by the exercise to a close.

According to a statement from the Ministry of Finance, on Friday, September 18, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed that the latest payment of ₦9,476,313,375.74, representing the outstanding 50 per cent balance of the BEC arrears has been paid by the Pension Transitional Arrangement Directorate (PTAD) to 3,958 eligible PHCN DBS pensioners.

Oyedele said that the first tranche, representing 50 per cent of the arrears, amounted to ₦9,481,886,576.53 and was paid in June 2026 to 3,959 eligible pensioners.

According to him, with the payment of the second tranche, PTAD has now fully settled the BEC arrears due to all eligible PHCN DBS pensioners covered by the exercise. The two tranches bring the total amount disbursed to ₦18,958,199,952.27.

He stated that PTAD explained that the difference of ₦5,573,200.79 between the two tranches arose from the death of one pensioner after the first payment and before the second tranche was processed.

Commenting on the development, Oyedele said the completion of the payment demonstrated the Federal Government’s determination to address inherited pension liabilities and ensure that verified entitlements due to pensioners are settled.

He noted that pension obligations remain an important responsibility of government to citizens who served the country, adding that the settlement of verified liabilities would continue to receive appropriate attention within the framework of available resources and approved processes.

The PHCN BEC arrears arose from the computation of additional pension entitlements due to eligible pensioners under the Defined Benefit Scheme. Their full settlement therefore brings the outstanding BEC liability covered by this exercise to an end.

The completion of the payment is expected to provide relief to the affected pensioners and their families, many of whom have awaited the resolution of the outstanding entitlements.

The Federal Ministry of Finance commended PTAD, under the leadership of its Executive Secretary, Tolu Odunaya, for its diligence and effective coordination of the exercise, which culminated in the full settlement of the verified BEC arrears.

The statement assured that the government will continue to work through the relevant agencies to address outstanding pension liabilities and strengthen the administration of pension entitlements under the Defined Benefit Scheme.

By Sam Otuonye 

The Federation Account Allocation Committee (FAAC), at its September 2026 meeting chaired by the Accountant-General of the Federation, Mr. Shamsedeen, has shared a total sum of N2.58 trillion to the three tiers of government as Federation Account allocation including N240 billion from savings to augment the distributable revenue for the month of August 2026, from a gross revenue of N3.685 trillion.

From the total distributable amount, inclusive of Gross Statutory Revenue and Value Added Tax (VAT), the Federal Government received N804.897 billion, the States received N794.313 billion, while the Local Government Councils (LGCs) received N555.142 billion. In addition, N184.388 billion was shared as Derivation Revenue to the oil-producing States, representing the constitutionally prescribed 13 per cent of mineral revenue.

A total of N125.142 billion was deducted for the cost of collection, while N1.221 trillion was allocated for Transfers, Intervention and Refunds.

According to a statement released by the Ministry of Finance said the Gross Revenue available from Value Added Tax (VAT) for August 2026 stood at N834.843 billion, compared with N793.968 billion distributed in the preceding month, representing an increase of N40.875 billion in gross VAT revenue.

From the VAT revenue, N100.545 billion was deducted for the cost of collection, while N1.184 trillion was allocated for Transfers, Intervention and Refunds.

The balance of N733.233 billion was distributed among the three tiers of government as follows: the Federal Government received N77.323 billion, the States received N425.278 billion, while the Local Government Councils received N270.632 billion.

The Gross Statutory Revenue for August 2026 stood at N2.850 trillion, compared with N4.359 trillion received in the preceding month, representing a decrease of N1.509 trillion.

From the Gross Statutory Revenue, N24.597 billion was deducted for the cost of collection, while N37.014 billion was allocated for Transfers, Intervention and Refunds.

The remaining balance of N1.565 trillion was distributed as follows: the Federal Government received N727.573 billion, the States received N369.035 billion, while N284.511 billion was allocated to the Local Government Councils. 

In addition, N184.388 billion was distributed as Derivation Revenue to the mineral-producing States, representing 13 per cent of mineral revenue.

The statement further indicated that revenue from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VAT), Customs and Excise Duties (CET) levies, and Excise Duty increased significantly during the period under review.

However, revenue from Companies Income Tax/Capital Gains Tax (CIT/CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental, Gas Flared Fee and Miscellaneous Oil Revenue recorded considerable decreases.

According to the statement, the total revenue distributable for August 2026 was drawn from Statutory Revenue of N1.565 trillion and Value Added Tax (VAT) of N773.233 billion, bringing the total distributable revenue to N2.338 trillion.

By Sam Otuonye

The Executive Secretary of the Petroleum Technology Development Fund (PTDF), Professor Shuaibu Shehu Aliyu, has inaugurated a high-level Committee on Operational Policy Review, Curriculum Development and Industry Integration for the Centre for Skills Development and Training (CSDT), Port Harcourt.

The committee is tasked with accelerating the full operationalisation of the Centre and strengthening Nigeria’s technical workforce for the oil and gas and wider energy sectors. 

Speaking at the inauguration ceremony in Abuja, Professor Aliyu said the committee would review the Centre’s systems and operations, identify existing gaps and develop practical recommendations for optimal utilisation of the facility.

He explained that the CSDT was established in response to findings from a PTDF skills audit, which identified significant shortages of qualified Nigerian technical manpower, particularly in technical and middle-level occupations across the oil and gas industry.

The Centre is designed to provide competency-based vocational training and internationally recognised certifications for technicians, artisans and craftsmen in disciplines including welding and fabrication, electrical works, industrial safety, automobile maintenance and heavy-duty equipment maintenance.

According to the Executive Secretary, the Centre is approximately 98 per cent complete and comprises an administrative building, auditorium, library, hostels, staff quarters, a canteen, power and water infrastructure, and other essential facilities. Pending its full commencement, the facility has been used for activities under PTDF’s Overseas Scholarship Scheme and In-Country Scholarship Scheme, as well as training programmes organised by institutions such as the Bureau of Public Procurement.

The committee’s terms of reference include:

• Developing an operational policy and management framework for the Centre;

• Designing competency-based curricula aligned with industry requirements;

• Recommending appropriate training, assessment and certification systems;

• Establishing pathways for internships, apprenticeships, employment and entrepreneurship;

• Developing sustainable partnerships with government agencies, regulators, educational institutions, professional bodies, operators and service companies; and

• Preparing an implementation framework with timelines, responsibilities, monitoring indicators and reporting mechanisms.

Responding on behalf of the committee, its Chairman, Professor Emmanuel Ibe Kachikwu, thanked PTDF for the confidence placed in the members and pledged their commitment to delivering a comprehensive review and operationalisation framework for the Centre.

Professor Kachikwu noted that skills development remains essential to economic growth, local participation in the energy value chain and Africa’s effective involvement in the global energy transition.

Members of the Committee include Chairman of the Oil and Gas Trainers Association of Nigeria (OGTAN), Mr. Christopher Osarunwense; a representative of the National Board for Technical Education (NBTE), Dr. Folorunsho Akande; Chief Executive Officer of Green Energy International, Professor Anthony Adegbulugbe; President of the Trade Union Congress (TUC), Mr. Festus Osifo; Professor Mohammed Dauda of Ahmadu Bello University (ABU), Zaria; Professor Ayodele Ajayi of the Federal University of Technology (FUT), Akure.

Others are; Zainab Dutse and Professor Gobir from Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mrs. V. U. Akpagher of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC); Dr. Sani Mohammed of Kaduna Polytechnic; as well as representatives of Dangote Refinery, the Independent Petroleum Producers Group (IPPG) and other key stakeholder organizations. 

PTDF expressed confidence that the committee’s combined expertise would provide the strategic direction required to strengthen the Centre’s programmes, deepen industry integration and advance the Fund’s mandate of developing human and institutional capacity for Nigeria’s energy sector.