Connect with us

News

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

Published

on

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.

Advertisement

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.

Advertisement

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

“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.

Advertisement

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.

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.

Advertisement

“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.

Advertisement

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.

Advertisement

“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.

“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.

Advertisement

News

Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

Published

on

Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.

Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.

He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.

Advertisement

READ ALSO: Wale Edun Opens Up After Sack

Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.

“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”

Advertisement

He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.

He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.

Watch the video here

Advertisement

 

Continue Reading

News

Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Published

on

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

Advertisement

READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

Advertisement

Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

Advertisement

 

Continue Reading

News

Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

Published

on

Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

Advertisement

READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

Advertisement

Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

Advertisement

I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

Advertisement

 

Continue Reading

Trending