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Federation Account Allocation Committee distributes N2.04 trillion for March 2026 amid increased statutory revenue
via Punch Nigeria2 min read
The Federation Account Allocation Committee FAAC distributed N2.04 trillion as revenue for March 2026, an increase of N150 billion from the N1.89 trillion shared in February. This was announced by Bawa Mokwa, Director of Press and Public Relations for the Office of the Accountant General of the Federation, following the April 2026 FAAC meeting in Abuja. The total distributable revenue included N1.32 trillion from statutory revenue, N515.39 billion from Value Added Tax VAT, and N200 billion in augmentation. The Federal Government received N789.16 billion 38.8%, states received N657.60 billion 32.3%, and local government councils received N468.83 billion 23.0%. Oil-producing states were allocated N120.76 billion as derivation 5.9%. Total gross revenue for March 2026 was N2.364 trillion, with N81.08 billion deducted for collection costs and N246.87 billion for transfers, refunds, and savings. Gross statutory revenue for March 2026 was N1.699 trillion, an increase of N137.91 billion from February, which largely drove the higher FAAC distribution. However, VAT collections saw a marginal decrease, with N664.425 billion in March compared to N668.450 billion in February. Companies Income Tax, Capital Gains Tax, Stamp Duties, and Excise Duty showed significant increases, indicating improved non-oil tax performance. Conversely, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalty, import duty, and CET declined. The FAAC outcome highlights the growing strength of non-oil taxes, wh
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Arsenal has initiated contact to sign Paris Saint-Germain defender Emmanuel Mbemba on a free transfer this summer. The 18-year-old, who has been offered a new contract by PSG, is reportedly open to joining the Premier League champions. Training compensation for Mbemba is expected to be slightly over £150,000 when his current deal concludes at the end of June. Arsenal has presented a development plan to the France youth international, drawing parallels to William Saliba's progression. According to BBC Sport, Mbemba is said to favor a move to Arsenal, impressed by the club's stability and success under manager Mikel Arteta. The Gunners are reportedly considering a European loan for the defender until January 2027 to facilitate a work permit for his eventual move to England. While primarily a center-back, Arsenal sees Mbemba as a long-term prospect for the left-back position. Mbemba recently captained PSG's under-19 team to victory in the French Youth Cup and is considered a promising young defensive talent.
Twenty years after the 2006 FIFA World Cup in Germany, a select group of ten players from the 736 participants continue to play professionally in 2026. This group includes iconic figures such as Lionel Messi of Argentina, Cristiano Ronaldo of Portugal, and Luka Modric of Croatia, all of whom first appeared on the World Cup stage in 2006 and continue to compete at high levels. Other notable players still active are Sergio Ramos of Spain, Oscar Ustari and Guillermo Ochoa, both goalkeepers, Lukasz Fabianski of Poland, Lukas Podolski of Germany, and Roque Santa Cruz and José Montiel, both from Paraguay. These players have demonstrated remarkable longevity in their careers, with some, like Santa Cruz, still playing at 44 years old, and Ronaldo at 41. While many of their peers have transitioned into other roles within football, these ten individuals defy age by remaining active in the sport.
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Mirra Andreeva secured her first Grand Slam title at the French Open, defeating Polish qualifier Maja Chwalinska in straight sets, 6-3, 6-2. The 19-year-old Russian became the youngest Roland Garros women's singles champion since Monica Seles in 1992 and the first player born after 2005 to win a Grand Slam. This victory adds the Coupe Suzanne Lenglen to Andreeva's trophy collection, which already includes two WTA 1000 titles. Chwalinska, despite the loss, concluded an impressive run, having won nine matches through qualifying to become the first qualifier in the Open era to reach the final. Her performance will elevate her world ranking to 21, ensuring regular participation in major tournaments. The match saw early nerves and blustery conditions, with both players trading breaks. Andreeva ultimately demonstrated resilience, breaking Chwalinska to take the first set and maintaining her momentum in the second, despite a late break by Chwalinska. Andreeva sealed her victory with a backhand winner, surpassing her coach Conchita Martinez's 2000 Roland Garros runner-up finish.