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FAAC: FG, States, LGs Share N1.15trn For January

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The total revenue accrued to the coffers of the government increased to N2.07trn in January 2024 out of which N1.15trn was disbursed to the Federal Government, states, and local government areas, the Federation Allocation Accounts Committee disclosed on Thursday.

FAAC, in a communique issued at the end of its monthly meeting in Abuja, said the revenue was shared to meet the needs of the subnational governments.

According to a press release by the Director of Press and Public Relations of the Office of the Accountant-General of the Federation, Bawa Mokwa, the amount shared is N29bn less than the N1.44trn disbursed in January 2023.

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The communique said the N1.45trn total distributable revenue comprised distributable statutory revenue of N463.1bn, distributable Value Added Tax revenue of N391.8bn, Electronic Money Transfer Levy revenue of N15.9bn and Exchange Difference revenue of N279.03bn.

READ ALSO: FAAC Shares N1.100 Trillion To FG , States, LGs

It also added that a total revenue of N2.07trn was available in the month of January 2024 while N200bn was kept as savings.

“Total deductions for the cost of collection was N78.4bn, total transfers, interventions, and refunds was N640bn and savings was N200bn.

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“Gross statutory revenue of N1.15trn was received for the month of January 2024. This was higher than the sum of N875bn received in the month of December 2023 by N276bn,” the communique read.

The communique further stated that from the N1.15trn total distributable revenue, the Federal Government received a total of N407.267 bn, the state governments received N379.407 bn and the local governments received N278.041bn.

READ ALSO: FAAC Shares N907b To FG, States, LGs

It added that VAT collection was reduced by N71.7bn to N420.7bn in the month ending.

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The statement added, “The gross revenue available from the Value Added Tax in January 2024 was N420.733 billion. This was lower than the N492.506 billion available in the month of December 2023 by N71.773 billion.

“From the N1,149.816 billion total distributable revenue, the Federal Government received a total of N407.267 billion, the State Governments received N379.407 billion and the Local Government Councils received N278.041 billion.

“A total sum of N85.101 billion (13 per cent of mineral revenue) was shared with the benefiting States as derivation revenue.

“From the N463.079 billion distributable statutory revenue, the Federal Government received N216.757 billion, the State Governments received N109.942 billion and the Local Government Councils received N84.761 billion. The sum of N51.619 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.

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READ ALSO: FG, Others Share N2.84trn In FAAC

“The Federal Government received N58.768 billion, the State Governments received N195.894 billion and the Local Government Councils received N137.125 billion from the N391.787 billion distributable Value Added Tax revenue.”

Also, the N15.922 billion Electronic Money Transfer Levy was shared as follows: the Federal Government received N2.388bn, the state governments received N7.961bn and the local governments received N5.573 billion.

“The Federal Government received N129.354 billion from the N 279.028 billion Exchange Difference revenue. The State Governments received N65.610 billion, and the Local Government Councils received N50.582 billion. The sum of N33.482 billion (13 per cent of mineral revenue) was shared with the benefiting States as derivation revenue.

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“In January 2024, Companies Income Tax, Import Duty, Petroleum Profit Tax, and Oil and Gas Royalties increased significantly, while Value Added Tax, Export Duty, Electronic Money Transfer Levy, and CET Levies decreased considerably.

“The balance in the ECA was $473,754.57,” the statement concluded.

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Troops Ambush Terrorists On Transit To Cause Havoc In Kaduna, Neutralize Two

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Troops of the Nigerian Army have neutralized two terrorists and recovered arms in Giwa Local Government Area of Kaduna State.

Director Army Public Relations, Major General Onyema Nwachukwu, who made this known in a statement on Sunday, April 14, 2024, said the terrorists were on transit to cause havoc in the area.

Nigerian Army troops deployed for Counter- terrorism Counter-insurgency operations in the North West on Saturday 13 April 2024 successfully ambushed and neutralized two terrorists transiting with arms in Kaduna,” the statement read.

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READ ALSO: Police Nab Man Who Killed 100-year-old Mum Over Palm Oil Proceeds

The operation, which took place in Rafin Sariki Village of Giwa Local Government Area, was a prompt response to actionable intelligence on the presence of terrorists transiting with a sack containing weapons.

“The troops laid in ambush for the terrorists and engaged them in a gun battle, that neutralized two of the terrorists. The gallant troops also recovered one AK-47 rifle, 52 rounds of 7.62mm special ammunition, and one locally fabricated revolver frame.

“The Nigerian Army remains committed to ensuring the safety and security of the citizenry and the nation in general.

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“The NA will thus, continue to take decisive actions against terrorists activities in the region.”

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Video: Moment Pastor Enenche Sent Lady Away For Giving False Testimony On The Altar

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A video of popular Nigerian clergyman, Paul Eneche, calling out a woman for sharing a false testimony has made the rounds on social media.

The woman who attends his church in Abuja was on the altar to share her testimony of how God made her the “only graduate in her family.”

Worried by her command of English. the cleric asked the lady what degree did graduated with and she said ‘’Law”. Prodding further, the cleric asked her what kind of Law degree, the lady answered ‘’B.Sc in Law”

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READ ALSO:Military Aircraft Bomb Illegal Refining Sites In Rivers

He asked that the lady leave the altar and warned his members never to come to the altar to lie about a “testimony.”

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JUST IN: DSS Arrests El-Rufai’s Political Ally Over Post On Gov Sani

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Aisha Galadima, a strong political ally of the former governor of Kaduna State, Mallam Nasir El-Rufai, has been arrested in Kaduna.

The arrest, a source told DAILY POST, was connected to a post on her Facebook page, criticizing Governor Uba Sani.

The female politician was picked up by the operatives of the Department of State Services, DSS, from her residence on Sunday afternoon.

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READ ALSO: Military Aircraft Bomb Illegal Refining Sites In Rivers

The development was confirmed by one of her brothers, who said, “Aisha has just been arrested by DSS at her Tudun Wada residence in Kaduna.”

 

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