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

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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.

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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.

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

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

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.

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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.

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.

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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.

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.

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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.

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.

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

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.

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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.

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.

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World Ocean Day: HOMEF Wants An End To Human’s Exploitative Relationship With The Ocean

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By Joseph Ebi Kanjo 

Health of Mother Earth Foundation (HOMEF) has called for an end to human’s exploitative, violent, and destructive relationship with the ocean even as the world marks World Ocean Day today, 8 June, 2025.

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In a statement issued by Kome Odhomor, Media/Communications Lead, HOMEF, to mark this year’s World Ocean Day with the theme: ‘Wonder: Sustaining What Sustains Us,’ the ecological think tank organisation said Ocean is not just a water but an ecosystems which “supply a substantial amount of oxygen to the atmosphere and offer various services that ensure the survival of all species on Earth.

“Climate change, primarily caused by human activities, is impacting the ocean. Dead zones are proliferating, pollution from minerals and fossil fuel extraction and production processes is occurring, unsustainable industrial fishing practices are occurring, intentional waste dumping is occurring, and disturbances of the ocean floor and seabeds are among a long list of destructive activities.

READ ALSO: World Environment Day: CEEAI Partners HOMEF For A Day Event

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“As ocean surface temperatures increase, global warming will also rise. Therefore, protecting the ocean from these forms of degradation would ultimately safeguard the Earth. Let’s protect the ocean and force others to respect it because we are the ocean; we are part of the ocean family.”

Odhomor, in the statement made available to INFO DAILY on Sunday, quoted the Executive Director of HOMEF, Dr. Nnimmo Bassey, as saying the World Ocean Day is celebrated annually on 8 June to underscore the immeasurable importance of the world’s ocean and garner support for their protection.

Bassey in the statement lamented that despite the importance, the ocean and other water bodies are continuously subjected to a barrage of assaults at local, national, and international levels.

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READ ALSO: HOMEF Decries Alarming Rate Of Malnutrition, Food Insecurity

“The concept that the ocean cycles itself and acts as a greenhouse gas sink has been misconstrued to mean that the ocean can filter and clean itself no matter what is dumped in it.

“The ocean and other waterbodies have become dumpsites of all sorts, polluting and extreme exploitation.

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“There are a lot of unusual activities going on in our waters that must not be allowed to continue if we want a healthy ocean and planet,” he noted.

Bassey further stated that “corporate interests have been substituted for national and people-centred interests, as communities that live along the coasts, bear the brunt of such abnormalities. Now is the time for all to rise to the occasion to protect the ocean. The continued burning of the Ororo Oil well over a period of five years is a sad commentary on ecocide on our waters.”

READ ALSO: World Earth Day: HOMEF Holds Climate Justice Assembly, Tasks N’Delta Activists On Unity

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Also lending his voice, Stephen Oduware, a Programme Manager with HOMEF and Coordinator of the Fishnet Alliance, a network of fishers across Africa, emphatically noted that the world’s fisheries depend on the ocean.

The two major sides of the ocean bordering Africa – the Atlantic and Indian, along with their associated gulfs, are experiencing shortfalls in fishing due to vested and powerful interests. Industrial fishing, including the use of bottom trawlers, is partly responsible for unsustainable fishing and illegal, unreported, and unregulated fishing in the region.

“These practices not only harm fisheries but also harm the ocean and create imbalances in the ecosystems the ocean supports. These unchecked activities in the territorial waters of Africa must stop. Fishers of the world unite,” he noted.

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Edo Rep Member Distances Self From Cultism, Says Allegation Politically Motivated

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By Joseph Ebi Kanjo

Hon. Marcus Onobun, member representing Esan West, Esan Central and Igueben Federal Constituency in the House of Representatives, has described as false the rumours making the rounds that he’s involved in Cult-related activities in Iruekpen, Esan West Local Government Area of Edo State.

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The Edo rep member, in a disclaimer titled: ‘Re: Disclaimer on Alleged Cult-related Issues in Iruekpen’, which was made available to INFO DAILY on Sunday, said the allegations of his involvement in cultism were not only “false and baseless, unfounded but they also appear to be politically motivated, attempts to tarnish my hard-earned reputation, distraction from the developmental strides we are making, and undermine the trust and confidence the good people of Iruekpen and beyond have reposed in me.”

He stressed, “For the avoidance of doubt, I am not directly or indirectly involved in cultism nor have I ever supported, encouraged, financed, or participated in any activity that promotes it in any form whatsoever.”

READ ALSO: Police Arrest 28 Suspected Cultists In Edo

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Hon. Onobun, who stated that the last time he visited Edo State was 22nd April, 2025, noted that the allegation was to “lay a foundation for their wicked and clandestine plan to silence the opposition.”

He explained that though he got information from a reliable source that there was a clash in the community (Iruekpen) between two indigenes, such clash was never bear his residence but in a brothel.

“I am a firm believer in the rule of law, democratic principles, and peaceful co-existence,” he said.

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The Edo rep member, while stating that security and safety of his constituents top is priority, urged the “media and the general public to exercise due diligence and verify facts before spreading information capable of causing panic and reputation damage.”

READ ALSO: Alleged Cultism: NBA Warns Against Suspects’ Rights Violation In Edo

The security and safety of our people tops my priorities as a federal lawmaker, as no development sees the light of the day in an unsafe environment, thus, the recently commissioned Police station in Iruekpen community,” he added.

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Onobun urged “those behind these malicious fabrications,” to “desist from the politics of character assassination,” noting that “our community deserves leaders and citizens who promote unity, progress, and constructive dialogue not divisiveness and falsehood.”

He added: “I remain committed to the service of my people and to the peace, growth, and development of Iruekpen as my immediate community and the entire federal constituency at large. No amount of smear campaigns will deter me from fulfilling my mandate and standing for truth, justice, and good governance.”

 

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Democracy Day: FG Declares June 12 Public Holiday

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The Federal Government has declared Thursday, 12th June, 2025 as Public Holiday in commemoration of this year’s Democracy Day celebration.

Permanent Secretary in the Ministry of Interior, Dr Magdalene Ajani in a statement on Sunday in Abuja said the Minister of Interior, Dr Olubunmi Tunji-Ojo, made the declaration on behalf of the Federal Government.

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The minister congratulated Nigerians on the occasion of 26 years of uninterrupted civil rule.

READ ALSO:June 12: Jonathan, Others Mount Pressure On Tinubu To Reinstate Fubara

He said; “June 12 represents our historic journey to building a nation where truth and justice reign and peace is sustained and our future assured.

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“The last 26 years tells the story of our resilience, strength and courage and a hope Renewed than ever.”

Noting that democracy is sustained with open doors for further improvement, the minister reiterated the commitment of the Renewed Hope government of President Bola Tinubu to the universal value of democracy, based on freely-expressed will of the people in determining Nigeria’s political, economic, social and cultural systems.

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