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The Tourism Sector in Nigeria

by Fred Nwaozor The tourism sector in Nigeria is a largely untapped yet highly promising component of the national economy. With her vast landmass, rich cultural diversity, and varied ecosystems, Nigeria possesses the natural and human resources required to build a thriving tourism industry. Tourism, if properly harnessed, can serve as a major source of revenue, employment, and international goodwill for the country. Nigeria’s cultural diversity is one of its greatest tourism assets. With over 250 ethnic groups, each with distinct languages, traditions, festivals, and cuisines, the country offers a wide range of cultural experiences. Traditional festivals such as the Argungu Fishing Festival, Osun-Osogbo Festival, Durbar Festival, and New Yam festivals attract both local and international visitors. The country is also blessed with numerous natural attractions that have strong tourism potential. These include scenic landscapes such as the Obudu Mountain Resort in Cross River ...

FAAC distributes N2.094trn Revenue for October 2025

Frank Musa
The Federal Government, states, and Local Government Councils in Nigeria have shared among them a total of N2.094 trillion from the Federation Account for October 2025 as was announced by the Office of the Accountant General of the Federation (OAGF) on November 19, 2025.

The revenue distribution followed the November 2025 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, the Nigeria’s capital Territory.

The total distributable revenue comprised N1.376 trillion in statutory revenue, N670.303 billion from Value Added Tax (VAT), and N47.870 billion from the Electronic Money Transfer Levy (EMTL).

According to the FAAC communiqué, the Federal Government received N758.405 billion, states N689.120 billion, and Local Government Councils N505.803 billion.

Additionally, N141.359 billion was shared among mineral-producing states as derivation revenue.

Breaking down the figures, the Federal Government received N650.680 billion from statutory revenue, N100.545 billion from VAT, and N7.180 billion from EMTL.

States received N330.033 billion, N335.152 billion, and N23.935 billion from the respective sources, while Local Governments got N254.442 billion, N234.606 billion, and N16.755 billion.

The communiqué noted that gross statutory revenue for October 2025 rose to N2.164 trillion, up by N36.832 billion compared to September, while VAT revenue declined to N719.827 billion, down by N152.803 billion from the previous month.

Revenue increases were driven by Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax on upstream activities, Capital Gains Tax, Stamp Duties, Oil & Gas royalties, Import and Excise duties, and CET levies, while VAT, EMTL, and fees saw decreases.

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Fred Nwaozor, popularly known as TheMediaAmbassador, is a Nigerian tech expert, author, creative & content writer, media strategist, policy analyst, blogger, public speaker and rights activist. The renowned columnist regularly writes for the Federal Radio Corporation of Nigeria (FRCN), and is the Founder & Convener of Right Thinkers Movement (RITMO), Nigeria. He's a chartered industrial physicist, engineer and IT personnel. As a media guru, he enjoys an active presence in all media segments - including electronic, print & digital - since two decades ago till date. As a full-time researcher and educator, he's a regular contributor and peer reviewer for various internationally-noted engineering journals. As an Automation & Telecommunication engineer, his research interest mainly lies in System Modelling, Internet of Things (IoT), Smart city, Cybersecurity, Wireless networks, and Machine Learning (ML).