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.

Nkem Okereh 

Preparations are in top gear as the Nigerian Press Council (NPC) is set to hold its 2026 National Summit on Wednesday, 28 October 2026, at the Nicon Luxury hotel, Abuja. 

The theme of the Summit,  “Curbing Fake News and Misinformation in the Nigerian Media Space,” couldn’t have been more apt in view of the negative impact of fake news and disinformation in Nigeria’s  socio-political development.

The Honourable Minister of Information and National Orientation, Alhaji Mohammed Idris will serve as the Chief Host, while the Executive Governor of Imo State, His Excellency, Senator Hope Uzodimma, will serve as the Chairman of the occasion.

Other dignitaries expected at the event include state governors, ministers and critical stakeholders. A well known philanthropist and political heavyweight, Chief Barrister Success Obioma Akagburuonye  will deliver the key note address while minister of Defence, General CDS Musa is expected to deliver a lecture on the dangers of fake news and misinformation at the event.

The Summit is designed to bring together media professionals, policymakers, government officials, electoral officers, security agencies, academics, civil society organisations, women and youth groups and other stakeholders to critically examine the growing challenges posed by fake news and misinformation and their implications for journalism, democratic governance and national development.

The Council noted that the rapid expansion of digital and social media platforms has increased the speed and reach of information dissemination, making it imperative for stakeholders to strengthen mechanisms for information verification and promote responsible and ethical media practice.

The Summit will focus on critical issues including ethical journalism, fact-checking, media accountability, responsible use of digital platforms and the restoration of public trust in the media. It is also expected to generate practical recommendations and strengthen collaboration among stakeholders towards curbing the spread of false and misleading information in Nigeria.

A major highlight of the Summit will be the Nigerian Press Council National Awards, which will recognise distinguished personalities who have demonstrated excellence, leadership and significant contributions to national development across various sectors, including governance, entrepreneurship, journalism and media practice, academia and the entertainment industry.

Among the distinguished awardees is the Executive Governor of Imo State, His Excellency, Senator Hope Uzodimma, who will be honoured with the Best Performing Governor of the Year Award for his outstanding leadership, commitment to good governance and contributions to the development of Imo State and Nigeria, including his support for the growth and development of the media and promotion of effective public communication.

The recognition reflects the Council’s appreciation of efforts that promote constructive engagement between government and the media, strengthen access to information and contribute to an environment conducive to responsible and professional journalism.

The Executive Secretary/Chief Executive Officer of the Council, Dr. Dili Ezughah, said the Summit and Awards would provide an important platform for stakeholders to engage in the challenges confronting the media while celebrating individuals whose achievements continue to contribute to national development.

He noted that the Council remains committed to promoting ethical journalism, professionalism, accountability and public confidence in the Nigerian media, while encouraging excellence across sectors that contribute to the growth and development of the nation.

A statement by the executive secretary/Chief executive officer of the Council, Dr Dili Ezughah, Sunday, invites members of the media, government, academia, the private sector, civil society and other stakeholders to participate in the Summit and join in advancing the cause of a more credible, ethical and responsible Nigerian media.