Connect with us

News

FAAC Shares N1.100 Trillion To FG , States, LGs

Published

on

The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.100 trillion   to the federal government, states and Local Government Councils.

This was contained in communique issued by the FAAC at its September, 2023 meeting, this morning,  in Abuja according to a statement by the Director of Press and Public Relations of the Offixe of the Accountant- General of the Federation, Mr. Bawa Mokwa.

It indicated that the N1100.101 billion total distributable revenue comprised distributable statutory revenue of N357.398 billion, distributable Value Added Tax (VAT) revenue of N 321.941 billion, Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion, Exchange Difference revenue of N 229.568 billion and Augmentation of NN177.092 billion.

Advertisement

According to the communique, total revenue of N1.483 trillion was available as revenue earned in the month of August.

READ ALSO: Customs Exceeds Monthly Revenue Target, Generates N343bn In August

Total deductions for cost of collection was N58.755 billion, total transfers and refunds was N254.046 billion and savings was N71.000 billion.

Advertisement

Gross statutory revenue of N 891.934 billion was received for the month of August 2023.

This was lower than the N1150.424 billion received in the month of July 2023 by N258.490 billion.

The gross revenue available from the Value Added Tax (VAT) was N345.727 billion.  This was higher than the N298.789 billion available in the month of July 2023 by N46.938 billion.

Advertisement

READ ALSO: Attempted Coup Foiled In Burkina Faso

Of the N1 100 trillion total distributable revenue, the Federal Government received a total of N431.245 billion,  State Governments, N361.188 billion and the Local Government Councils received N266.538 billion.

A total sum of N26.473 billion (13% of mineral revenue) and N14.657 billion (13% of savings from NNPCL), were shared to the relevant States as derivation revenue.

Advertisement

A further analysis showed that of the N357.398 billion distributable statutory revenue, the Federal Government received N173.102 billion, the State Governments received N87.800 billion, while  the Local Government Councils received N67.690 billion.

The sum of N14.446 billion (13% of mineral revenue) and N14.361billion (13 % of savings from NNPCL) were shared to the relevant States as derivation revenue.

The Federal Government received N48.291 billion, the State Governments received N160.971 billion and the Local Government Councils received N112.679 billion from the N321.941 billion distributable Value Added Tax (VAT) revenue.

Advertisement

READ ALSO: Subsidy: CSO Threatens To Thwart Labour’s Oct 3 Planned Indefinite Strike

The N14.102 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.115 billion, the State Governments received N7.051 billion and the Local Government Councils received N4.936 billion.

The Federal Government received N114.445 billion from the N229.568 billion Exchange Difference revenue.

Advertisement

The State Governments received N58.048 billion, and the Local Government Councils received N44.752 billion, respectively.

The sum of N12.027 billion (13% of mineral revenue) and N0.296 billion (13 % of savings from NNPCL) went to the relevant States as derivation revenue.

From the N177.092 billion Augmentation, the Federal Government received N93.292 billion, the State Governments received N47.319 billion and the Local Government Councils got N36.481 billion.

Advertisement

Value Added Tax (VAT), Import and Excise Duties and Electronic Money Transfer Levy (EMTL) were said to have increased considerably, while Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties recorded significant decreases.

The balance in the Excess Crude Account (ECA) was put at $473,754.

Advertisement
Advertisement
Comments

News

Eating Takeout Food Often May Increase Heart Disease Risk — Study

Published

on

Research suggests that higher takeout food consumption may increase a person’s risk of cardiovascular disease, like heart disease.

In a new study, published in Food Science & Nutrition, researchers said eating takeout food too often can influence systemic inflammation that underlies much cardiovascular disease.

The study of over eight thousand people in the 2009 to 2018 U.S. National Health and Nutrition Examination Survey (NHANES) found that those who eat greater amounts of takeout food are likely to have various elevated risk factors for heart disease.

Advertisement

They were interviewed in their homes and also visited a mobile examination centre, where they recalled their food intake, received cardiometabolic health assessments, and had blood collected.

READ ALSO:23 Ships With Fuel, Food Items To Arrive Lagos Ports – NPA

Mammograms may predict heart disease risk in women — Study

Advertisement

The researchers found a correlation between the amount of takeout food a person consumes and their likelihood of developing chronic low-level inflammation, a key driver of cardiovascular pathology.

Deaths from cardiovascular disease and the consumption of takeout foods are both on the rise, and while that does not prove a causal relationship, the study explores whether there is a connection between the two.

The study tracked degrees of systemic inflammation according to the Dietary Inflammatory Index (DII), a scale that quantifies the risk of inflammation related to the intake of specific dietary substances.

Advertisement

READ ALSO:Food Security: 14,000 Smallholder Farmers To Benefit From N4bn Smart Agriculture Training In Bauchi

The three major takeaways from the analysis included that a higher level of takeout food consumption corresponded to an unfavourable cardiometabolic profile consisting of lower HDL, as well as higher triglycerides, fasting glucose, serum insulin, and insulin resistance.

Jayne Morgan, MD, cardiologist and Vice President of Medical Affairs in a reaction, who was not involved in the study, explained that “Takeout food raises the cardiovascular risk not because of one ingredient, but because of a predictable combination of nutrients, additives, and preparation methods that adversely affect blood pressure, lipids, insulin sensitivity, inflammation, and endothelial function.”

Advertisement

This includes excess sodium that increases blood volume and blood vessel stiffness, and unhealthy fats, usually saturated fats or trans fats, that increase cholesterol level and atherosclerosis, a condition that can lead to heart attack and stroke.”

Michelle Routhenstein, Preventive Cardiology Dietitian at Entirely Nourished, also not involved in this study, declared, “It is also important to recognise that frequent takeout use often reflects broader lifestyle pressures such as demanding schedules, limited access to cooking resources, irregular meals, and disrupted sleep, all of which can quietly compound cardiovascular risk.”

Advertisement
Continue Reading

News

How To Identify Fake Kiss Condoms In Circulation

Published

on

The National Agency for Food and Drug Administration and Control (NAFDAC) has recently warned Nigerians about the circulation of counterfeit Kiss brand condoms in major markets across the country.

Contents
Original DKT Kiss condoms
Fake Kiss condoms

In a public alert published on its website recently and referenced as Public Alert No. 042/2025, the agency said the warning followed information received from DKT International Nigeria, a non-governmental organisation involved in contraceptive social marketing and HIV/AIDS prevention.

Advertisement

NAFDAC stated, “The National Agency for Food and Drug Administration and Control is notifying the public about the sale and distribution of fake Kiss condoms in various Nigerian markets.

“The information was received from the MAH-DKT International Nigeria, a leading non-governmental organisation focused on contraceptive social marketing. Its mission is to provide Nigerians with affordable and safe options for family planning and HIV/AIDS prevention.

“The fake Kiss condoms have been reported to be found in Onitsha Market, Idumota Market, Trade Fair Market, and various markets in Kano, Abuja, Uyo, Gombe, Enugu, and others.”

Advertisement

READ ALSO:Married Man Denies Wife At Brazil Concert To Kiss Tems On Stage [VIDEO]

Kiss condom is a brand of male latex condoms designed to offer sexual protection, including the prevention of unwanted pregnancy and sexually transmitted infections such as HIV, gonorrhoea and syphilis.

To help consumers avoid counterfeit products, NAFDAC outlined key differences between original and fake Kiss condoms.

Advertisement

Original DKT Kiss condoms
The original product comes in a light red box pack with clear instructions printed on the lower part of the pack, including single-use warnings and storage and caution information. The box contains detailed medical device information, including MDSS GmbH, Germany, and a complete Nigerian address at Isolo Industrial Layout, Oshodi-Apapa Expressway.

The condom pack is light red, with the word “Kiss” closely written on six lines. The wallet outer pack is lighter red, carries the Oshodi-Apapa address, manufacturer details, and a clear product description beside the condom image. The hidden flap includes revision dates, medical device details, and caution information, while the wallet inner contains detailed instructions and eight bullet points under important notes.

READ ALSO:Lagos Names Mandy Kiss Anti-drug Abuse Ambassador

Advertisement

The original condom is large, oval-shaped, well-lubricated, and has a large teat end for semen collection.

Fake Kiss condoms
In contrast, fake Kiss condoms come in darker-coloured box packs with little or no additional information. Some boxes are plain white inside and lack condom images. The address is wrongly listed as 42, Montgomery Road, Yaba, Lagos, while the manufacturer’s address is incomplete or missing. Storage and caution information is absent.

The condom pack is darker, with “Kiss” loosely written on five lines and wide spacing. The condom strip is longer than the original. The wallet outer pack is also darker red, carries incorrect or missing addresses, lacks colour wave designs, and shows inconsistencies in barcode lines. Medical device and caution information are missing, and the hidden flap contains no details.

Advertisement

Inside the wallet, information is summarised with only six bullet points. The fake condom is thinner, round-shaped, less lubricated, and has a smaller teat end.
(TRIBUNE)

Continue Reading

News

Lagos: Police Arrest 14 Suspected Traffic Robbers On Lekki-Epe Expressway

Published

on

Fourteen persons suspected to be involved in traffic-related robbery have been arrested at various points along the Lekki-Epe Expressway in Lagos over the past two weeks.

The arrests were confirmed on Tuesday by the Lagos State Police Command spokesperson, SP Abimbola Adebisi, via a post on her official X handle, @AbimbolaShotayo.

According to her, operatives of the Command’s Tactical Squad based in Elemoro carried out the operations that led to the suspects’ apprehension.

Advertisement

READ ALSO:VIDEO: Chaos As Last-minute Shoppers Overwhelm Lagos Balogun Market

She explained that the arrests followed sustained patrols and intelligence-driven operations aimed at curbing criminal activities associated with traffic congestion and improving the safety of motorists and other road users along the busy corridor.

Adebisi noted that the development reflects the Command’s determination to strengthen security and uphold law and order on the Lekki-Epe axis, adding that the Tactical Squad has continued to proactively identify crime-prone areas and respond swiftly to threats posed by criminal elements.

Advertisement

She called on residents and commuters to support police efforts by providing timely and credible information that could assist in preventing and detecting crime.

READ ALSO:VIDEO: Chaos As Last-minute Shoppers Overwhelm Lagos Balogun Market

Security is a shared responsibility. Members of the public are encouraged to stay alert and promptly report any suspicious movements or activities to the nearest police station,” she said.

Advertisement

The police spokesperson further reassured residents and road users of the Command’s commitment to maintaining aggressive patrols and security operations to protect lives and property in the area.

She reiterated the Command’s community policing message, “See Something, Say Something,” stressing the importance of cooperation between the police and the public in sustaining peace and security.

 

Advertisement
Continue Reading

Trending