DAPPMAN, Dangote Clash, Marketers Demand Retraction of Products Diversion Claim

•Issue seven-day ultimatum  

•Dangote: We stand by our statement, go and seek redress

•Accuses association of asking for annual subsidy of N1.5tn 

•Ndume backs refinery’s management, slams saboteurs

Emmanuel Addeh, Sunday Aborisade in Abuja and Peter Uzoho in Lagos

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Dangote refinery again clashed yesterday over the allegation of diversion of petroleum products by members of the association, and demanded a retraction of the claim in seven days.

DAPPMAN said the refinery should provide documented proof of its members diverting products, threatening to take legal action against the refinery if it failed to comply with its position.

But in a response last night, the Dangote refinery stated that it was standing by its comments, insisting that any party which feels aggrieved by the contents of the publication is entitled to seek redress through the appropriate legal channels, without recourse to any so-called seven-day notice.

In the same vein, Borno South Senator, Ali Ndume, has issued a strong appeal for restraint, urging stakeholders to stop what he described as a coordinated media demonisation campaign against the Dangote refinery.

DAPPMAN in a statement yesterday said: “We challenge Dangote refinery to present verifiable evidence that DAPPMAN members are diverting products to neighbouring countries. Smuggling is a national security matter. If any member is complicit, let the relevant agencies act.

“We issue a seven-day ultimatum to the refinery to either retract this allegation or provide documented proof. If neither occurs, we reserve the right to seek legal redress”, DAPPMAN stated.

Dangote had in a widely advertised statement on Monday, in response to an earlier statement by DAPPMAN, accused the association’s members of engaging in diversion of petrol from Nigeria to neighbouring West African countries.

The company added that DAPPMAN was the force behind the recent strike action embarked by the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG).

But in its statement in response to Dangote, DAPPMAN in its 10-point rebuttal, categorically rejected what it described as the misleading and factually incorrect statements made by the  refinery.

“DAPPMAN categorically rejects the misleading and factually incorrect statements made by the Dangote Petroleum Refinery in its press release of 15 September 2025.

“As an association representing legitimate depot owners and marketers in Nigeria’s deregulated downstream sector, we are compelled to correct the record and address claims that threaten the integrity of our industry, mislead the public, and undermine regulatory confidence.

“We categorically state that our members, including Matrix, AA Rano, AYM Shafa, and NIPCO are fully tax compliant as we are not aware of any pending cases or disputes against them for default in their tax obligations.”

It described Dangote Refinery’s allegation of sponsoring NUPENG strike as false and baseless, saying the refinery’s claim that DAPPMAN sponsored NUPENG suggests a fundamental lack of understanding of how Nigeria’s downstream ecosystem works.

It said stakeholders such as NUPENG, Nigerian Association of Road Transport Operators (NARTO), Petroleum and Retail Outlet Owners Association of Nigeria (PETROAN), Major Energies Marketers Association of Nigeria (MEMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN) and DAPPMAN were independent entities, each with distinct roles and interests.

The statement noted that DAPPMAN does not control labour unions or other industry associations and has no business interfering in their decisions.

“DAPPMAN did not sponsor or support NUPENG’s proposed industrial action. Our role has been one of de-escalation, focused on averting disruption to fuel supply and national mobility,” the association added.

DAPPMAN argued that the recent reductions in pump prices were primarily the result of a number of factors including  “a stronger naira (N1,500–N1,550/$ since Q1 2025), supported by the fiscal and monetary reforms of President Bola Tinubu’s administration and the Central Bank of Nigeria (CBN), declining international crude prices (Brent crude fell from $92 to $76 per barrel)  market deregulation and improved FX liquidity under the current administration.”

On round-tripping accusations by Dangote Refinery, DAPPMAN described it as misleading, saying, allegations that Nigerian marketers import Dangote-refined products from Togo are both misleading and ironic.

“For clarity, Offshore Lome is a recognised West African (WAF) trading hub, not a blending plant, as some commentators have suggested. Just as the Dangote Refinery is a refinery and not a factory, Offshore Lome is a trading point where cargoes are exchanged, not processed,” they added.

It noted that pricing ‘Offshore Lome’ reflects international market transactions and was not the same as retail pricing within Lome, Togo.

“It is, in fact, the Dangote Refinery that offers discounts of over $40/MT to foreign traders while denying Nigerian marketers access to coastal vessel loading and restricting them to gantry-only lifting. This restrictive access and pricing structure create the very arbitrage opportunity the refinery now criticizes”, DAPPMAN stated.

“Dangote’s claims that DAPPMAN members import fuels with sulphur levels above 50ppm contradict its own operational record. The refinery itself applied for waivers from NMDPRA to distribute high-sulphur products, in direct contravention of PIA Section 317(11). We challenge the refinery to publicly deny this”, it stated.

But in a response last night, Dangote stated: “We wish to emphasise that any party who feels aggrieved by the contents of the publication is entitled to seek redress through the appropriate legal channels, without recourse to any so-called seven-day notice. We are fully prepared to defend our position.

“We wish to clarify that the crux of DAPPMAN’S sustained attacks Dangote Petroleum Refinery stems from their demand for an annual subsidy of N1.505 trillion to enable their members to match the refinery’s gantry prices at their own depots.

“While we offer petroleum products to marketers at our gantry price, DAPPMAN insists on receiving products via coastal logistics, an option that would add N75 per litre in additional costs. Based on projected daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), this amounts to an additional annual cost of N1.505 trillion (N1,505,625,000,000), which they are effectively asking us to absorb and pass it on to consumers.

“Specifically, the marketers are demanding that we discount N70/litre in coastal freight, NIMASA, NPA and other associated costs as well as N5/litre for the cost of pumping into vessels to enable them to transport products from our refinery to their depots in Apapa and sell at the same price as our gantry.

“We wish to make it clear that we have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years. DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” Dangote added.

But in defence of Dangote, Ndume, a former Senate Leader, in a statement yesterday,  warned that the barrage of accusations directed at the $20 billion privately-owned refinery risks undermining national economic interest, even as the federal government has created a level playing field for all investors in the oil and gas space.

 Ndume cautioned against what he described as a “poisonous media narrative” that seeks to cast the Dangote Refinery as a threat to fair competition and national interest.

He noted that contrary to the claims of its critics, the refinery represents the kind of bold, long-term investment the country desperately needs to reduce dependence on imported fuel and build economic resilience.

Ndume said: “Before Dangote took the risk to build his refinery, previous administrations had granted licenses to many Nigerians to do the same. What did they do with it? Some simply capitalised on crude oil allocation incentives without ever breaking ground on a refinery project.”

Ndume recalled that as far back as 2002, at least 12 licenses were issued to private sector players to build refineries.  He said the licenses were later revoked, and a new round of permits were issued in 2007 by the then Department of Petroleum Resources (DPR).

Yet, according to him, most of the licensees failed to act. He said: “Those parading themselves as fuel importers today didn’t seize the initiative to come together and build refineries. Again, under the late Muhammadu Buhari administration, modular refinery licenses were issued.

“How many of them actually scratched the surface? But they are now ganging up to accuse Dangote falsely of monopolising the market.”

The senator stressed that the Petroleum Industry Act (PIA) provides a robust legal framework for a deregulated downstream sector, where fair competition, not protectionism, should thrive.

According to him, the Dangote Refinery, which has the capacity to process 650,000 barrels of crude oil per day, is a vital strategic asset and not a threat.

The post DAPPMAN, Dangote Clash, Marketers Demand Retraction of Products Diversion Claim appeared first on THISDAYLIVE.

​  

  • Related Posts

    Jubilation in Rivers as Tinubu Ends Emergency Rule, Restores Fubara, Deputy, House Members

    Jubilation in Rivers as Tinubu Ends Emergency Rule, Restores Fubara, Deputy, House Members

    •President justifies six-month undemocratic governance in oil-rich state

    •Wike hails Tinubu, Rivers elders, others preach peace

    •Tonye Cole: Governor will have zero powers on resumption

    Deji Elumoye, Chuks Okocha, Olawale Ajimotokan in Abuja and Blessing Ibunge in Port Harcourt

    It was jubilation on the streets of Port Harcourt, Rivers State capital, yesterday as residents and indigenes were thrown into celebration following the announcement of the end of emergency rule in the state by President Bola Tinubu, who directed suspended Governor Siminalayi Fubara, his deputy, and members of Rivers State House of Assembly to return to their desks effective today.

    Tinubu had imposed a six-month emergency rule in Rivers State on March 18, 2025 and had suspended Fubara, his deputy, and members of Rivers State House of Assembly.

    Some residents that spoke with THISDAY, expressed joy that the State has been returned to democratic rule despite not knowing what the future holds for the Fubara-led government.

    This comes as FCT Minister, Nyesom Wike hailed Tinubu for restoring democratic governance to Rivers State, saying the move by the President once more demonstrated his commitment to peace and sustenance of democracy in the country.

    Equally, the Rivers State Elders’ Council beckoned on the elected leaders, including the Rivers people to sustain the ongoing peace in the State.

    Also, former Governorship candidate in the last general election in Rivers State, Tonye Cole, yesterday, said Fubara would have “zero” powers when he resumes.

    President Tinubu in a statement entitled “Cessation of the State of Emergency in Rivers State,” declared that he decided not to renew the emergency rule based on favourable intelligence report about the State at his disposal.

    Tinubu, said he was happy to lift the emergency rule, adding that from intelligence available to him, there has been a groundswell of a new spirit of understanding, a robust readiness, and potent enthusiasm on the part of all the stakeholders in Rivers State for an immediate return to democratic governance.

    The President explained: “This is undoubtedly a welcome development for me and a remarkable achievement for us. I therefore do not see why the state of emergency should exist a day longer than the six months I had pronounced at the beginning of it.

    “It therefore gives me great pleasure to declare that the emergency in Rivers State of Nigeria shall end with effect from midnight today. The Governor, His Excellency Siminalayi Fubara, the Deputy Governor, Her Excellency Ngozi Nma Odu, and members of the Rivers State House of Assembly and the speaker, Martins Amaewhule, will resume work in their offices from 18 September 2025”.

    Tinubu also reminded both the executive and legislative arms in the states of the need to work in harmony for the progress of the 36 states of the federation.

    “I take this opportunity to remind the Governors and the Houses of Assembly of all the States of our country to continue to appreciate that it is only in an atmosphere of peace, order, and good government that we can deliver the dividends of democracy to our people. I implore all of you to let this realisation drive your actions at all times.”

    The President, while justifying the emergency rule said it became “painfully inevitable” after a constitutional crisis paralysed governance in the state.

    According to him, disputes between Governor Siminalayi Fubara and the State House of Assembly had left critical economic assets vulnerable and halted budget approvals. 

    He added: “I am happy to address you today on the state of emergency declaration in Rivers State. You will recall that on 18th March, 2025, I proclaimed a state of emergency in the state. In my proclamation address, I highlighted the reasons for the declaration.

    “The summary of it for context is that there was a total paralysis of governance in Rivers State, which had led to the Governor of Rivers State and the House of Assembly being unable to work together. Critical economic assets of the State, including oil pipelines, were being vandalised.

    “The State House of Assembly was crisis-ridden, such that members of the House were divided into two groups. Four members worked with the Governor, while 27 members opposed the Governor. The latter group supported the Speaker.

    “As a result, the Governor could not present any Appropriation Bill to the House, to enable him to access funds to run Rivers State’s affairs. That serious constitutional impasse brought governance in the State to a standstill.

    “Even the Supreme Court, in one of its judgments in a series of cases filed by the Executive and the Legislative arms of Rivers State against each other, held that there was no government in Rivers State. My intervention and that of other well-meaning Nigerians to resolve the conflict proved abortive as both sides stuck rigidly to their positions to the detriment of peace and development of the State.

    “It therefore became painfully inevitable that to arrest the drift towards anarchy in Rivers State, I was obligated to invoke the powers conferred on me by Section 305 of the 1999 Constitution, as amended, to proclaim the state of emergency. “The Offices of the Governor, Deputy Governor, and elected members of the State House of Assembly were suspended for six months in the first instance. The six months expire today, September 17th, 2025.

    “I thank the National Assembly, which, after critically evaluating the justification for the proclamation, took steps immediately, as required by the Constitution, to approve the declaration in the interest of peace and order in Rivers State.

    “I also thank our traditional rulers and the good people of Rivers State for their support from the date of the declaration of the state of emergency until now.”

    Furthermore, the President pointed out that he was “not unaware that there were a few voices of dissent against the proclamation, which led to their instituting over 40 cases in the courts in Abuja, Port Harcourt, and Yenagoa, to invalidate the declaration.

    “That is the way it should be in a democratic setting. Some cases are still pending in the courts as of today. But what needs to be said is that the power to declare a state of emergency is an inbuilt constitutional tool to address situations of actual or threatened breakdown of public order and public safety, which require extraordinary measures to return the State to peace, order and security.

    “Considered objectively, we had reached that situation of total breakdown of public order and public safety in Rivers State, as shown in the judgment of the Supreme Court on the disputes between the Executive and the Legislative arm of Rivers State.

    “It would have been a colossal failure on my part as President not to have made that proclamation. As a stakeholder in democratic governance, I believe that the need for a harmonious existence and relationship between the executive and the legislature is key to a successful government, whether at the state or national level.

    “The people who voted us into power expect to reap the fruits of democracy. However, that expectation will remain unrealisable in an atmosphere of violence, anarchy, and insecurity borne by misguided political activism and Machiavellian manipulations among the stakeholders.”

    The President in the statement stated, inter alia:

    “My Fellow countrymen and, in particular, the good people of Rivers State.

    “I am happy to address you today on the state of emergency declaration in Rivers State. You will recall that on 18th March, 2025, I proclaimed a state of emergency in the state. In my proclamation address, I highlighted the reasons for the declaration.

    “The summary of it for context is that there was a total paralysis of governance in Rivers State, which had led to the Governor of Rivers State and the House of Assembly being unable to work together.

    “Critical economic assets of the State, including oil pipelines, were being vandalised. The State House of Assembly was crisis-ridden, such that members of the House were divided into two groups. Four members worked with the Governor, while 27 members opposed the Governor.

    “The latter group supported the Speaker. As a result, the Governor could not present any Appropriation Bill to the House, to enable him to access funds to run Rivers State’s affairs.

    “That serious constitutional impasse brought governance in the State to a standstill. Even the Supreme Court, in one of its judgments in a series of cases filed by the Executive and the Legislative arms of Rivers State against each other, held that there was no government in Rivers State.

    “My intervention and that of other well-meaning Nigerians to resolve the conflict proved abortive as both sides stuck rigidly to their positions to the detriment of peace and development of the State.

    “It therefore became painfully inevitable that to arrest the drift towards anarchy in Rivers State, I was obligated to invoke the powers conferred on me by Section 305 of the 1999 Constitution, as amended, to proclaim the state of emergency. “The Offices of the Governor, Deputy Governor, and elected members of the State House of Assembly were suspended for six months in the first instance. The six months expire today, September 17th, 2025.

    “I thank the National Assembly, which, after critically evaluating the justification for the proclamation, took steps immediately, as required by the Constitution, to approve the declaration in the interest of peace and order in Rivers State. I  also thank our traditional rulers and the good people of Rivers State for their support from the date of the declaration of the state of emergency until now.

    “I am not unaware that there were a few voices of dissent against the proclamation, which led to their instituting over 40 cases in the courts in Abuja, Port Harcourt, and Yenagoa, to invalidate the declaration.

    “That is the way it should be in a democratic setting. Some cases are still pending in the courts as of today. But what needs to be said is that the power to declare a state of emergency is an inbuilt constitutional tool to address situations of actual or threatened breakdown of public order and public safety, which require extraordinary measures to return the State to peace, order and security. Considered objectively, we had reached that situation of total breakdown of public order and public safety in Rivers State, as shown in the judgment of the Supreme Court on the disputes between the Executive and the Legislative arm of Rivers State. It would have been a colossal failure on my part as President not to have made that proclamation.

    “As a stakeholder in democratic governance, I believe that the need for a harmonious existence and relationship between the executive and the legislature is key to a successful government, whether at the state or national level. The people who voted us into power expect to reap the fruits of democracy. However, that expectation will remain unrealizable in an atmosphere of violence, anarchy, and insecurity borne by misguided political activism and Machiavellian manipulations among the stakeholders.

    “I am happy today that, from the intelligence available to me, there is a groundswell of a new spirit of understanding, a robust readiness, and potent enthusiasm on the part of all the stakeholders in Rivers State for an immediate return to democratic governance. This is undoubtedly a welcome development for me and a remarkable achievement for us. I therefore do not see why the state of emergency should exist a day longer than the six months I had pronounced at the beginning of it.

    It therefore gives me great pleasure to declare that the emergency in Rivers State of Nigeria shall end with effect from midnight today. The Governor, His Excellency Siminalayi Fubara, the deputy governor, Her Excellency Ngozi Nma Odu, and members of the Rivers State House of Assembly and the speaker, Martins Amaewhule, will resume work in their offices from 18 September 2025.

    “I take this opportunity to remind the Governors and the Houses of Assembly of all the States of our country to continue to appreciate that it is only in an atmosphere of peace, order, and good government that we can deliver the dividends of democracy to our people. I implore all of you to let this realisation drive your actions at all times.”

    Wike Hails Tinubu

    FCT Minister, Nyesom Wike has hailed President Bola Tinubu for restoring democratic governance to Rivers State through the lifting of the emergency rule imposed on the State.

    He said the move by the President had once more demonstrated his total commitment to peace and sustenance of democracy in the country.

    In a statement yesterday, by his Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, the FCT Minister, noted that the President’s proactive action had once again saved the state, adding his intervention had further restored the confidence of the people of Rivers State in his leadership.

    He commended the people of the State for their belief in the President and continuous support for him in his tireless efforts to return the country to the path of progress and development.

    Wike urged all stakeholders in Rivers State to work together harmoniously in the collective interest of the state and its people.

    He also cautioned troublemakers, especially fifth columnists who were always seeking to benefit from the crisis to stay away from the State.

    Wike said: “From Rivers State going forward, the only news that will emanate will be that of peace, progress and development.”

    Rivers Elders Preach Peace

    Meanwhile, Rivers Elders in a statement signed by its chairman, Chief Ferdinand Alabraba, said as the State has been restored to democratic governance, everyone must to reflect on a number of issues.

    Alabraba advised that everyone should “avoid the reoccurrence of the unfortunate circumstances we found ourselves in and significantly, how to sustain peace, unity and development in our beloved Rivers State”.

    He urged all stakeholders to embrace the peace and reconciliation that has returned to the state, saying, “We also quickly wish to admonish the few individuals and groups who are still fanning the embers of discord  to come to terms with the fact that the crisis is over and stop making inflammatory statements, inciting rhetoric in the media and whipping up sentiments for their selfish interests.”

    The elders said people should prioritise the interest of the State and allow Fubara and the House of Assembly to work together without further distractions.

    They commended the Governor and the leadership of the House of Assembly for making peace.

    “At this point, we can only remind them that they did not only agree on peace in Abuja but also, on their own, went to the Villa and affirmed their reconciliation before His Excellency, Bola Ahmed Tinubu, the President of the Federal Republic of Nigeria,” the statement added.

    They added that both the executive and legislative must work harmoniously in the interest of the state and applauded Rivers people for their patience and understanding throughout the period of the emergency rule.

    To the President, they commended him “for bringing Rivers State back from the brink and taking actions to ensure the peace that we now enjoy in the State”.

    Reacting also, the National Leader of South-South Chief and Elders,  High Chief Omubo Harry, said Rivers people are excited to see their governor reinstated.

    The elder statesman decried that the state had suffered a lot, especially during the period of emergency rule.

    He however, called on all indigenes and residents to come together and work for the progress and development of the state, eschewing tendencies capable of truncating the fragile peace.

    On his part, a former Special Adviser to the former Governor,  Nyesom Wike, Mr. Opunabo Inko-Tariah, said:  “Rivers State and the people are marinated in joy eagerly awaiting the return of governor Fubara.

    Inko-Tariah, a civil rights advocate, noted the governor’s policies, projects and programmes are people-centric, having been seared in the flame of emergency rule.

    He said: “Rivers people cannot wait for the rebirth of spring with resumption of Governor Fubara having walked through the metallic hell of road of dictatorship.

    “It has been six months of painful laughter and retrogression and we cannot wait for our governor, who will hew out of this mountain of despair, a stone of hope for the state!”

    A chieftain of the All Progressives Congress (APC) Chief  Eze Chukwuemeka, said:  “Let me state further that the coming back of Fubara come 18th September depends on which of the Fubara is coming back.

    “Is the Fubara stripped of all his powers as a Governor or is it the Fubara that is coming to reclaim his powers as the duly elected Governor of Rivers State?

    “Assuming that the Fubara that will come in by this midnight is the Fubara that is stripped off his powers to govern the State accordingly as an executive Governor, who will be handed over the lost of his commissioners, aides and how to run the State by approving contracts he will execute, then the State and her people will not be expecting much from him as that will be the third term of Nyesom Wike as the governor of Rivers State where looting and misgovernance will be the order of the day

    “But, if the Fubara that will be coming in is the Fubara who knows that he is the duly elected Governor of Rivers State and have the power of governance, then, the people of Rivers State can rejoice of further progress of the State.”

    Also reacting to the development, the President of the pan Niger Delta Elders Forum (PANDEF), Prof Godknows Igali said the six months was the darkest part of Rivers state political history, adding that “it is a time for sober-reflection”.

    Igali said there was nothing to celebrate about the return of Governor Fubara and other democratic institutions in the state, noting that “we all learn from the dark six months of emergency rule. There is nothing to celebrate.

    “For six months an administrator was appointed who behaved like a military man. My advice to the governor is that he should settle down and do his job. The people of Rivers state have lost a lot in this past six months, so there is so much for him to do”.

    The President of Ijaw National Congress (INC), Prof Benjamin Okaba also speaking, called on the indigenes of the state as well as residents to roll out drums and celebrate the return of governor Fubara to government house.

    Okaba said though he was not expecting the federal government to celebrate the governor’s return the same way he was celebrated during his suspension by those who wanted him demoted, there is a need to celebrate his return.

    “I was not expecting Fubara’s return to be with pomp and pageantry the same way they demoted him. If they had their way, they would have even extended the suspension to 2027. That was their initial plan. But because of sustained pressure by Nigerians, they could not.

    “Rivers people should rejoice that their governor is back. Both the indigenes and the residents should roll out drums and celebrate. The governor is back to correct whatever went wrong in his absent in terms of projects delivery, the sanitation of the city and many more.”

    Tonye Cole: Fubara Will Have ‘Zero’ Powers on Resumption

    A chieftain of the APC and the former Governorship candidate in the last general election in Rivers State, Tonye Cole, has said Siminalayi Fubara will have ‘zero’ powers when he resumes.

    Cole, who spoke on Channels Television yesterday, said Fubara would find himself in a difficult situation and would not be able to make any decision as a governor without interference.

    Cole, a 2023 governorship candidate of the APC, lamented that Rivers, a critical state in Nigeria, has a Governor who would not be able to exercise his full authority as an elected leader.

    He said, “We cannot be in a situation where we have an elected governor of a State, like Rivers State, which is a very critical state not just for the people of Rivers, but Nigeria as a whole, and what you then see is that you have an elected Governor that has zero powers. I don’t think it portends well at all.

    “I think the Governor will be finding himself in a very difficult situation. First of all, the way politics has played out in Nigeria, almost every situation is that a Governor, in leaving office, looks for somebody who he believes can continue whatever agenda they had moving forward.

    “But time and time again, we find out that where the new Governor or whoever has come in as Governor is left alone to run his administration, then things progress.”

    Speaking further, the entrepreneur said: “However, when such doesn’t happen, we have ended up in this whole godfather-godson fight, and it’s never been good for democracy.

    “Everywhere that fight has occurred, the people have tended to suffer a lot more. My prayer is that as we come back, because we don’t know what we’re going to see starting from tomorrow, the one thing that we are sure about is that the governor is not in a position to make any decisions.”

    Cole, however, advised Fubara to find a way to reach an agreement with the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to allow him (Fubara) to take certain decisions as an elected governor.

    “What I would do if I were him would be to now sit down with the honourable minister and appeal for some leeway to allow certain decisions to be taken by me as governor, and others to be taken by him, whatever peace agreement they had.

    “The truth is that we do not know the details of that peace agreement, so I cannot tell the extent or the limits of the powers that he has now.”

    The post Jubilation in Rivers as Tinubu Ends Emergency Rule, Restores Fubara, Deputy, House Members appeared first on THISDAYLIVE.

    ​  

    •President justifies six-month undemocratic governance in oil-rich state •Wike hails Tinubu, Rivers elders, others preach peace •Tonye Cole: Governor will have zero powers on resumption Deji Elumoye, Chuks Okocha, Olawale
    The post Jubilation in Rivers as Tinubu Ends Emergency Rule, Restores Fubara, Deputy, House Members appeared first on THISDAYLIVE.

    FAAC Disburses N2.225tn to FG, States, LGs as Federation Account Grosses N3.635tn

    FAAC Disburses N2.225tn to FG, States, LGs as Federation Account Grosses N3.635tn

    Ndubuisi Francis in Abuja

    The Federation Account Allocation Committee (FAAC), Wednesday shared a total sum of N2.225 trillion to the three tiers of government as the Federation Account grossed N3.635 trillion in August.

    Citing a communique issued at the monthly FAAC meeting for September, the Director, Information and Public Relations,  Federal Ministry of Finance, Mohammed Manga,  in a statement said the disbursed N2.225 trillion  comprised Statutory Revenue of N1.478 trillion, VAT (N672.903 billion),  N32.338 billion from Electronic Money Transfer Levy (EMTL),  and the sum of N41.284 billion from Exchange Difference.

    Out of the distributable revenue, the federal government received N810.047 billion, the 36 states and local governments received N709.831 billion and N522.228 billion respectively, while the oil producing states got N183.012 billion as derivation (13 per cent mineral revenue).

    Cost of collection accounted for  N124.839 billion while N1.285 trillion was allocated for Transfers  Intervention and Refunds.

    Giving further breakdown, the statement disclosed that the Gross Revenue available from VAT for the month of August was N722.619 billion as against N687.940 billion distributed in the preceding month, resulting in an increase of N34.679 billion.

    “From that amount, the sum of N28.905 Billion was allocated for the cost of collection and the sum of N20.811 Billion given for Transfers, Intervention and Refunds.

    “The remaining sum of N672.903 Billion was distributed  to the three of tiers of government, of which the federal government got N100.935 billion, the states received N336.452 billion and local government councils got N235.516 billion.

    “Accordingly, the Gross Statutory Revenue of N2.838 Trillion received for the month was lower than the sum of N3.070 Trillion received in the previous month by N231.913 billion .

    “From the stated amount, the sum of N94.587 Billion was allocated for the cost of collection and a total sum of N1.265 trillion for Transfers, Intervention and refunds,” the statement said.

    It added that the balance of  N1.478 trillion was distributed among the three tiers of government.

    The  federal government received the sum of N684.462 billion, states got N347.168 billion, while the sum of N267.652 billion was allocated to local councils and N179.311 billion as 13 per cent Derivation Revenue mineral producing states.

    Also, the sum of N33.685 Billion from  Electronic Money Transfer Levy (EMTL) was distributed to the three tiers of government as follows: the federal government received N4.851 billion, states got N16.169 billion, local government councils received N11. 318 billion, while N1.347 billion was allocated for cost of collection.

     Oil and Gas Royalty, VAT and CET levies increased significantly, while Petroleum Profit Tax (PPT), Import Duty, Electronic Money Transfer Levy (EMTL), Companies Income Tax (CIT) and Excise Duty declined.

    Earlier, in his opening remarks, the  Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who chaired the meeting  commended the FAAC  for their diligent efforts in ensuring the effective allocation of resources to the various tiers of government.

    He noted that the economic reforms embarked upon by the Federal Government are yielding positive results and that our collective efforts will continue to drive growth and development.

     The minister assured that better days are ahead and expressed optimism about the future of our economy. *As we continue to work together, I urge us to prioritize prudent management of public resources, ensuring that our nation’s wealth is utilized effectively to meet the needs of our citizens,* Edun emphasized.

    The post FAAC Disburses N2.225tn to FG, States, LGs as Federation Account Grosses N3.635tn appeared first on THISDAYLIVE.

    ​  

    Ndubuisi Francis in Abuja The Federation Account Allocation Committee (FAAC), Wednesday shared a total sum of N2.225 trillion to the three tiers of government as the Federation Account grossed N3.635
    The post FAAC Disburses N2.225tn to FG, States, LGs as Federation Account Grosses N3.635tn appeared first on THISDAYLIVE.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    Enugu state partners Songhai, Tribu seal N100 billion deal to revive Heneke Farm 

    FIRS warns banks, agencies to comply with tax deduction rules

    Google Play apps with 38 million downloads linked to massive ad fraud scheme 

    FAAC shares N2.22 trillion among Federal, State, and LGAs for August 2025 

    US updates naturalization test, tightens American citizenship rules

    NCR Nigeria shares surge 31% MtD, hits N15 after strong H1 comeback 

    PenCom to Redesign Micro Pension Plan to Boost Financial Inclusion

    Razzl Brand Ignites South-East Market with Vibrant Launch in Aba

    Ndukwe Harps on Telecoms’ Growth, Revitalisation  

    Verve, Google Play Partner to Extend VerveLife 8.0 across Africa

    Ajanwachuku: Digital Infrastructure Will Boost Revenue in Mobility Ecosystem

    Nasarawa Govt, Digitslaw Partner to Digitise Justice System

    Report: Education Sector Opposes Ransomware as Ransom Payments Drop Sharply

    FintechNGR Engages Regulators, Lawmakers to Strengthen Fintech

    FIRS confirms death of four staff in Afriland Towers fire 

    Real Estate Stakeholders’ Forum 2025 charts a new course for housing and investment reform in Lagos 

    NDPC issues security advisory to Nigerians over Google Chrome vulnerabilities

    Bank of Agriculture secures $1 billion to boost smallholder farming in Nigeria

    Bank of Ghana cuts policy rate to 21.5% as inflation eases

    ARADEL leads value as All-Share Index records 1 billion shares

    Real Forte CEO pioneers 10% down payment model with launch of Nova City Community in Abuja 

    BREAKING: Court restrains NUPENG, truck drivers from blocking roads, disrupting Dangote Refinery operations

    President Tinubu ends State of emergency in Rivers State

    Bola Matel-Okoh brings the Executive Woman Summit to Lagos: Ibukun Awosika, Dolapo Osinbajo & more speakers confirmed

    Meet top 10 newest billionaires in 2025 

    How to check NECO 2025 SSCE results online, via SMS

    NECO releases 2025 SSCE results, 60% pass rate

    Tony Elumelu confirms death of Heirs Holdings employees in Afriland Towers fire

    ARISE IIP raises $700 Million, adds Vision Invest as shareholder in major African infrastructure deal 

    FG, FAO unveils $3.14 billion investment to boost Agriculture in Nigeria

    Nigerian agencies breach data law despite Tinubu’s directives on Privacy – Lawyers 

    NGX plans longer trading hours, to consider closing at 5 PM 

    WTO: AI could boost global trade by 40% by 2040  

    FirstBank partners with Calabar Entertainment Conference to drive youth empowerment in Creative Sector 

    JustMarkets unveils revamped IB Program with flexible commissions and enhanced partner benefits 

    Dangote Refinery: “We don’t want monopoly, we need more players”- Aliko Dangote