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FAAC: FG, States, LGs share N415bn April Allocation

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By Joseph INOKOTONG
The Federation Account Allocation Committee (FAAC) Tuesday shared N415.730 billion to the three tiers of government being April 2017 allocation.
Accountant –General of the Federation, Ahmed Idris, who represented the Minister of Finance, Mrs. Kemi Adeosun said the gross statutory revenue of N274.210 billion received for the month, was lower than the N331.583 billion received in the previous month by N57.473 billion.
She said there was a significant increase in Export Sales Revenue by about $63.69 million due to increase in the average unit price of crude from $55.86 to $55.38 per barrel and a rise in crude oil export volume by 1.07 million barrels.
According to the Minister, the Federal Government received N136.633 billion; state governments got N103.842 billion, while the local governments received N77.112 billion including the Value Added Tax (VAT).
The Federal Inland Revenue Service, FIRS received 4 percent Cost of Collection from the N56.562 billion generated for the month. Nigeria Customs Service also took 7 percent cost of collection from the N43.468 billion generated in April 2017. The Department of Petroleum Resources also got its 4 percent cost of collection from the N36.115 billion generated for the month. The oil producing states received N22.640 billion being 13 percent derivations.
“However, despite the improvement, production still suffered the potential setbacks. Leakages arising from sabotage and program maintenance led to shut-ins and shutdowns at terminals. The force majeure declared at Forcados terminal since February, 2016 was still in place”, she said.
The distributable statutory revenue for the month was N272.115 billion. The sum of N6.330 billion was refunded by the Nigeria National Petroleum Corporation (NNPC) to the Federal Government.
There was a proposed distribution of N20.425 billion from excess petroleum profit tax (PPT) account. Also, exchange gain of N38.517 billion was proposed for distribution.
The chairman of State Commissioners of Finance Forum, Mr. Mahmood Yunusa said, states were worried that the money shared would not be enough to enable them pay workers’ salaries, stressing “we expect that by next month there should be a remarkable improvement.”
Meanwhile, the Excess Crude Account balance dropped to $2.29 billion on May 23 from $2.49 billion on April 25.
Alhaji Idris, also stated that the allocations from the Federation Account to the three tiers of government also declined by N52. 07 billion from the N467.8 billion shared in March to N 415.73 billion in April this year.
Similarly, a decrease of N57.47 billion was also recorded in gross statutory revenue from N331.58 billion in March to N274.1 billion in April.
Mr. Idris explained further that the Federal Government received N163.89 billion while states and the 774 local government councils received N117.59 billion and N87.77 billion, respectively.
Meanwhile, N29.83 billion was shared to the oil-producing states based on the 13 per cent derivation principle, while the revenue- generating agencies received N16.52 billion as cost of revenue collection.
According to Mr. Idris, the decrease in revenue to crude oil production setbacks was caused by sabotage and shutdown of installations, especially in the Niger Delta region.
“Despite the improvement (in prices of crude oil), production still suffered the perennial setbacks,” he said.

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Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

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By: Fabian Apechihin

The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.

A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.

The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.

According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.

While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.

“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.

Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.


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US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

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By: Fabian Apechihin

The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.

The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.

Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.

According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.

Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.

“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.

He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.

“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.


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NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

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• Lauds transparency, fairness in beneficiary selection and grassroots empowerment

• Says reforms align with Tinubu’s Renewed Hope Agenda, restore trust in Niger Delta

The Niger Delta Youths for Positive Change (NDYPC) has commended the Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, for what it described as bold, people-focused reforms that are restoring trust and delivering tangible benefits to the Niger Delta.

In a statement signed and issued by Comrade Elliott Yibakeni, after the conclusion of leadership training sessions with ex-agitator leaders in Abuja, the group said the PAP, once in urgent need of renewal, is now undergoing a transformation that reflects transparency, fairness, and accountability.

“At a time when public trust in institutions was waning, Dr. Otuaro has emerged as a symbol of credibility and transformation,” the statement read. “His visionary leadership is restoring integrity, empowering communities, and driving a sustainable development agenda that resonates with the aspirations of the Niger Delta.”

According to NDYPC, under Otuaro’s leadership, beneficiary selection has become fair and merit-based, ending years of favoritism and political interference. The group added that access to education, skills training, and empowerment opportunities, both locally and abroad, is now guided by equity and open competition.

The group highlighted several internal reforms, including improved staff welfare, strengthened professional capacity, and strict adherence to best practices in public procurement. These, it said, have made the PAP more efficient, responsive, and transparent.

NDYPC also praised Otuaro’s inclusive governance style, noting his sustained engagement with traditional rulers, women leaders, civil society organizations, and local communities. This approach, the group said, has strengthened peace-building efforts and deepened trust between the PAP and the people it serves.

In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the PAP has maintained consistent payment of stipends to ex-agitators and extended direct support to vulnerable populations. NDYPC also applauded new healthcare interventions for ex-agitators facing health challenges.

The statement further commended the programme’s investments in scholarships, vocational training, and economic empowerment initiatives aimed at preparing Niger Delta youths for leadership, innovation, and sustainable livelihoods.

“Every decision reflects a deep commitment to public trust, responsible stewardship, and long-term development,” NDYPC stated. “Under Dr. Otuaro’s watch, the Niger Delta is rising stronger, united, and filled with renewed hope.”

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