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

Published

6 months ago

November 23, 2023

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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.

“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.

READ FAAC disburses N966bn to FG, states, LGs as July revenue

“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.

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.

READ FAAC shares N786bn to FG, states, LGs

JUST IN: Tinubu, Shettima to pay toll at airport gates

Published

9 hours ago

May 14, 2024

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President Bola Tinubu and Vice-President Kashim Shettima will now pay the required toll whenever they use the gates at airports.

Festus Keyamo, minister of aviation, announced this to journalists after the federal executive council (FEC) meeting chaired by Tinubu at the presidential villa in Abuja on Tuesday.

Keyamo said he presented two memos which were approved by the council.

Details later…

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

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Tinubu suspends 0.5% cybersecurity levy

Published

9 hours ago

May 14, 2024

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President Bola Tinubu has suspended the 0.5 percent cybersecurity levy after criticism and protest trailed the announcement.

Mohammed Idris, minister of information and national orientation, announced the suspension.

Idris said Tinubu directed the Central Bank of Nigeria (CBN) to suspend the implementation and review the modalities for its implementation.

Details later…

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

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Minister to sue Niger speaker over plans to ‘marry off’ 100 girls, says it’s ‘totally unacceptable’

Published

15 hours ago

May 14, 2024

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Uju Kennedy-Ohanenye, minister of women affairs, has petitioned the inspector-general of police (IGP) and sought a court injunction to halt the marriage of 100 girls in Niger state.

Abdulmalik Sarkindaji, speaker of the Niger state house of assembly, announced last week that he would sponsor the wedding of 100 girls, some of whom were orphaned by insurgency, as part of his Maringa constituency project.

He said he had procured materials for the event scheduled for May 24, and promised to pay dowries for the bridegrooms.

Following the outcry that trailed the announcement, the speaker explained that he was only financing the wedding — not forcing the girls into marriage.

However, Kennedy-Ohanenye said the plan is unacceptable, and that the future of the girls should be a priority.

Speaking to journalists in Abuja on Monday, the minister said a thorough investigation into the circumstances surrounding the issue will be carried out.

READ Super Eagles go after 4th title as 34th AFCON kicks off

She said the ministry will take responsibility for the girls’ education and vocational training.

“I want to let the honorable speaker of house in Niger state know that this is totally unacceptable by Federal Minister Of Women Affairs and by the government,” Kennedy-Ohanenye said.

“Because there is something called the Child’s Right Act and I said it from the onset, that is no more business as usual.

“These children must be considered, their future must be considered, the future of the children to come out of their marriage must be considered.

“So I have gone to court. I have written him a letter and written a petition to the IG of police.

“And I have filed for injunction to stop him from whatever he is planning to do on the 24th, until a thorough investigation is carried out on those girls, find out whether they gave their consent, their ages, find out the people marrying them.

READ Olu of Warri: Police declare two princes wanted over stolen crown

“As the speaker did not think about empowering these women or sending them to school or giving them some kind of training support financially.

“The women affairs have decided to take it up and we are going to educate the children.

“Those that do not want to go to school, we will train them in a skill, empower them with sustainable empowerment machines to enable that child build his or her life and make up her mind who and when to get married.

“If for any reason the speaker tries to do contrary to what I have just mentioned, there will be a serious legal battle between him and the Federal Ministry of Women Affairs.”

The minister added that based on the Child Rights Act, every child belongs to the state, hence the rights of every child will be protected from harm and violence.