Connect with us

News

FG, states, LGAs shared N906.9bn as allocation in October, up by N3.48bn – FAAC

Published

on

 

The federation account allocation committee (FAAC) says it shared N906.955 billion with the three tiers of government in October 2023.

The figure represents an increase of N3.48 billion compared to the September disbursement of N903.48 billion.

The committee disclosed this in a communique issued on Wednesday at the end of its November retreat held in Asaba.

 

According to the statement, the N906.955 billion was drawn from statutory revenue of N423.01 billion, value-added tax (VAT) of N305.070 billion, N323.446 billion from electronic money transfer levy (EMTL), and N15.552 billion from exchange difference.

 

It also comprised exchange difference revenue of N202.887 billion and augmentation of N60 billion.

 

The statement said the total revenue of N1,346.519 trillion was available in the month of October 2023.

 

“Total deductions for cost of collection was N53.483 billion; total transfers, interventions and refunds was N386.081 billion,” the communique said.

See also  FG, states, LGAs share N907.054bn in June – FAAC

 

“Gross statutory revenue of N660.090 billion was received for the month of October 2023. This was lower than the N1,014.953 billion received in the month of September 2023 by N354.863 billion.

 

“The gross revenue available from the value added tax (VAT) was N347.343 billion. This was higher than the N303.550 billion available in the month of September 2023 by N43.793 billion.”

 

According to FAAC, from the N906.955 billion total distributable revenue, the federal government received a total of N323.355 billion, the state governments received N307.717 billion and the local government councils (LGCs) received N225.209 billion.

 

A total sum of N50.674 billion (13 per cent of mineral revenue) was shared to the relevant states as derivation revenue.

 

The FAAC said from N305.070 billion in distributable statutory revenue, the federal government received N147.574 billion, the state governments received N74.852 billion and the LGCs received N57.707 billion.

 

“The sum of N24.937 billion (13 percent of mineral revenue) was shared to the relevant states as derivation revenue,” FAAC said.

See also  FAAC shares N681.330bn March 2021 revenue to FG, states, LGs

 

Also, the federal government received N48.517 billion, the state received N161.723 billion and the LGCs received N113.206 billion from the N323.446 billion distributable VAT revenue.

 

News

UK unveils programme for Tinubu’s state visit

Published

on

By

The United Kingdom government has unveiled the programme for the state visit of President Bola Tinubu, scheduled to take place from March 17 to 19. 

According to the itinerary, the visit will be hosted at Windsor Castle and will include bilateral meetings, ceremonial events and engagements with members of the Nigerian diaspora.

Preparations for the visit are scheduled for March 17, with security sweeps, road closures and procession rehearsals taking place ahead of the president’s arrival.

Tinubu will officially arrive the UK on March 18 and will be received by Prince William and Catherine, Princess of Wales.

A ceremonial welcome will follow on Datchet road, including the playing of national anthems and a guard inspection.

The president will then proceed in a carriage procession to Windsor Castle, where he will be received by King Charles III and Queen Camilla.

The schedule also includes a formal reception, a 21-gun salute and a state luncheon at St George’s Hall.

See also  Good morning! Here Are Some Major News Headlines In Nigerian Newspapers Today: Subsidy gains: Labour scores governors low as allocations rise by N1.7tn

Later in the day, Tinubu is expected to hold bilateral meetings with UK officials focusing on trade, security, migration and port development.

The day will conclude with a cultural exchange event showcasing Nigerian artefacts, followed by a state banquet hosted at Windsor Castle.

On March 19, the Nigerian president will hold a private breakfast with the king and queen before departing for London.

While in London, Tinubu is expected to lay a wreath at the The Cenotaph in Westminster.

He will also meet with Keir Starmer, UK prime minister, at 10 Downing Street, for bilateral discussions and a woking lunch.

Other engagements include a meeting with members of the Nigerian diaspora and the signing of bilateral agreements at Buckingham Palace.

The visit will conclude with Tinubu’s departure from RAF Northolt for Nigeria.

The trip marks Nigeria’s first full state visit to the UK in 57 years.

Continue Reading

News

Four dead, many injured as truck runs into fully-loaded commercial bus in Lagos

Published

on

By

Four passengers have died while many others are seriously injured following a road accident involving a truck and a commercial mini bus along the Lekki–Epe expressway.

The Lagos State Traffic Management Authority (LASTMA) said the accident occurred “over the weekend” opposite Beechwood in Shapati, inward Ajah.

In a statement issued by Adebayo Taofiq, spokesperson of the agency, the traffic agency said the crash involved a HOWO truck with registration number KNN 313 YL and a Suzuki commercial mini bus popularly known as ‘korope’.

According to the agency, preliminary findings indicated that the driver of the truck lost control of the vehicle which then veered across the road, crashing into the oncoming commercial bus conveying passengers.

LASTMA said the impact of the collision killed four male passengers instantly, while four other occupants — two males and two females — sustained severe injuries after getting trapped in the wreckage.

The agency said its personnel arrived at the scene promptly and rescued the injured victims from the mangled vehicle with the support of other emergency responders and passersby.

See also  Newspapers Headlines Today: Tinubu urges Nigerians to elect leaders that would make a difference

The injured passengers were taken to Hamon Royal Hospital for medical treatment, while the bodies of the deceased were deposited at the Shency Hospital morgue by an ambulance belonging to the Federal Road Safety Corps.

Officers of the Nigeria police force attached to the Elemoro police division also secured the accident scene and managed traffic during the rescue operation.

LASTMA added that the driver of the truck and his motorboy fled the scene after the crash.

Olalekan Bakare-Oki, general manager of LASTMA, expressed condolences to the families of the victims and wished the injured speedy recovery.

He also urged motorists, particularly drivers of articulated vehicles, to adhere to traffic safety regulations and exercise caution to prevent road accidents.

Continue Reading

News

ADC faction fixes April 3 for national convention

Published

on

By

A faction of the African Democratic Congress (ADC) has announced April 3 to 5 as the date for the election of new members of the national working committee (NWC).

In a statement issued on Sunday, the ADC faction said party executives at the ward, LGA, state, and national congresses will be elected through consensus.

In a timetable outlining activities leading up to the national convention, the party said ward congresses will take place on March 19, followed by LGA congresses on March 24, and state congresses on March 28.

The group said the decision was taken to promote unity, inclusivity, and internal cohesion.

“This decision is taken in accordance with the party’s constitution and the Electoral Act 2026 (as amended), in furtherance of its commitment to promoting unity, cohesion, and inclusiveness within the party,” the statement reads.

“The BOT/NWC believes that the consensus approach will foster greater cooperation, understanding, and collective leadership, ultimately strengthening the party’s ability to achieve its goals and objectives.”

The ADC faction also announced the commencement of a membership registration exercise for new members, which will run from March 14 to 25.

The party said new members are expected to register at their respective ward offices and obtain membership cards through the party’s continuous membership registration committee (CMRC).

See also  Katsina terror kingpin Abdulkarim Faca-Faca, 7 others killed in NAF air strikes

“This exercise is strictly for new members; existing members are not required to renew their membership at this time,” the party said.

The group said issues arising from the various congresses would be addressed accordingly, with petitions from the national convention expected to be resolved between April 6 and 10.

The party faction distanced itself from the ongoing electronic membership mobilisation, registration, and revalidation exercise being conducted by the ADC coalition led by David Mark

The group said the exercise does not follow the procedures outlined in the party’s constitution, adding that the official online membership registration portal would be released later through the party’s authorised channels.

The statement was jointly signed by Nafi’u Bala, the factional national chairman, and Rufus Ikanmi, secretary of the board of trustees (BOT).

The ADC coalition, led by Mark, had earlier  scheduled April 14 for the election of the party’s national officers. 

Continue Reading

Trending News