BY CHIKA OKEKE, Abuja Prof Innocent Barikor Committed to promoting green jobs, the National Environmental Standards and Regulations Enforcement Agency, NESREA, has issued a deadline for compliance to 25 percent recycled PET content for the plastics sector. This followed a recent publication attributed to the Manufacturers Association of Nigeria, MAN, expressing concerns over the National Environmental (Plastic Waste Control) Regulations, 2026. With the deadline, the PET content requirement takes effect from 1 January 2028 and increases to 50 percent from 1 January 2030. The timeline is expected to provide an opportunity for the manufacturers, recyclers, brand owners and Producer Responsibility Organisations, PRO, with sufficient time to plan investments, upgrade systems, build supply chains, develop local recycled-material capacity and engage regulators on practical implementation. Director-General/Chief Executive Officer of NESREA, Prof. Innocent Barikor noted that the Nat...
BY CHIKA OKEKE, Abuja The Federation Account Allocation Committee, FAAC, has shared a total of N2.300 trillion among the Federal Government, State Governments and Local Government Councils as revenue accrued for May 2026. This was confirmed at the June 2026 meeting of FAAC following the consideration of revenue receipts for the month of May. The total distributable revenue of N2.300 trillion comprised N1.611 trillion from Statutory Revenue and N688.785 billion from Value Added Tax, VAT. From the distributable revenue, the Federal Government received N818.680 billion, while State Governments received N759.141 billion. This was even as the Local Government Councils received N534.277 billion, while the oil-producing states received N188.132 billion as 13 per cent derivation revenue. The gross statutory revenue available for the month stood at N2.652 trillion, representing an increase of N273.623 billion over the N2.378 trillion recorded in April 2026. In addition, FAAC reporte...