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FG, States, LGs Share N1.2tn In May

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The Federation Allocation Allocation Committee has disclosed that during the May 2024 meeting of the FAAC held in Abuja, N1.2tn from the April 2024 Federation Account Revenue was shared by the federal, states, and local governments.

The Director of Press and Public Relations, Office of the Accountant-General of the Federation, Mr Bawa Mokwa, disclosed this in a statement on Thursday.

The document revealed that N1.2tn total distributable revenue comprised distributable statutory revenue of N284.71bn, distributable Value Added Tax revenue of N466.45bn, Electronic Money Transfer Levy revenue of N18.02bn, and Exchange Difference Revenue of N438.88bn.

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Total revenue of N2.19tn was available in April 2024.

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

The total deduction for the cost of collection was N80.51bn; the total transfers, interventions, and refunds were N903.47bn.

Gross statutory revenue of N1.23tn was received for April 2024.

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This was higher than the sum of N1.01bn received in March 2024 by N216.28bn.

The gross revenue available from the value-added tax in April 2024 was N500.92bn. This was lower than the N549.69bn available in March 2024 by N48.77bn.

READ ALSO: FAAC Shares N786bn To FG, States, LGs

From the N1.2tn in total distributable revenue, the Federal Government received a total sum of N390.41bn, the state governments received N403.40bn, and the local government councils received N293.81bn.

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A total sum of N120.450bn (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.

On the N284.716bn distributable statutory revenue, the communiqué stated that the Federal Government received N112.14bn, the state governments received N56.88bn, and the local governments received N43.855bn. The sum of N71.83bn (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.

The Federal Government received N69.96bn, the state governments received N233.22bn, and the local governments received N163.26bn from the N466.45bn distributable value-added tax revenue.

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

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A total sum of N2.704bn was received by the FG from the N18.024bn Electronic Money Transfer Levy. The state governments received N9.012bn, and the local governments received N6.30bn.

The Federal Government received N205.59bn from the N438.88bn Exchange Difference revenue. The state governments received N104.27bn, and the local governments received N80.39bn. The sum of N48.62bn (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.

According to the communiqué, in April 2024, oil and gas royalties, company income tax, excise duty, petroleum profit tax, electronic money transfer levies, and CET levies increased significantly, while import duty and value-added tax recorded considerable decreases.

The FAAC noted that the balance in the Excess Crude Account remained at $473,754.57.

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ACJL: CLEEN Foundation Organises Stakeholders Workshop On Parole System 

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In an effort to put in place a functional parole system in the Administration of Criminal Justice Laws (ACJL), in Edo State, a non-profit organisation – CLEEN Foundation, organised a two-day stakeholders workshop in Benin.

INFO DAILY reports that stakeholders were drawn from Civil Society Organisations; officials of Edo State government particularly Ministry of Justice; the police; Nigerian Bar Association (NBA); Nigerian Correctional Service (NSC) and human rights commission amongst others.

In his opening remarks, the Executive Director, CLEEN Foundation, Gad Peter, said the workshop was aimed at giving more insights into the parole system and how best to deepen and enhance the Administration of Justice.

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READ ALSO: Lagos Roads, Homes Flooded After Downpour

We want to drive advocacy for parole system and address the development that government has put in place to improve ACJS,” he said.

In the opening remarks read by Mrs. Blessing Abiri, Program Advisor, CLEEN Foundation, the Executive Director described the parole system as a critical component of the justice system.

He added that the workshop was geared towards addressing the gap in parole and ACJL.

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Peter noted: “Parole reflects a balance between punitive measures and the need to rehabilitate, recognize and reform individuals that will bring positive change.

“It (Parole) is aimed at rehabilitating offenders and reintegrating them into the society as law abiding citizens.”

In his remarks, Attorney- General of Edo State who was represented by Mrs. Stella Okojie, a Director in the ministry, said Section 468 of CJS in the State specifically made provisions for parole.

The Attorney-General disclosed that the government has acquired land for State-owned correctional centres as part of efforts geared towards deepening administration of justice.

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FULL LIST: Lagos Gets 13 New Band A Feeders

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Lagos State has been bolstered with 13 additional Band A feeders, following approval from the Nigerian Electricity Regulatory Commission.

The Ikeja Electricity Distribution Company announced that the upgrade was granted due to their consistent provision of at least 20 hours of daily electricity.

“Premised on our demonstrated ability to consistently provide for a minimum of 20 hours of daily during a performance evaluation period monitored by the regulator, we are pleased to announce that we have obtained approval to add 13 Band Feeders to our network,” a statement on IKEDC’s Twitter handle read on Wednesday.

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The upgraded feeders include – OgbaINJ-T3-Agege, AlimoshoINJ-T8-Okunola, OworoINJ-T3-Anthony, AdeniyiJonesINJ-T1-Anifowoshe, and IsheriINJ-T1-Bankole.

READ ALSO: Court Judgement: Join Okpebholo To Build A Formidable Force, APC Mocks PDP’s Ighodalo

IBEDC disconnects Ogun industrial estate, others over debts
Others are, EjigboTCN-Igando, EjigboTCN-Ijegun, IkoroduTCN-Fakale, Maryland INJ-T1-Ketu, OjoduINJ- T1-King Avenue, OdungunyanINJ-T1-Agodo and T1-IjuINJ-T1- Ajuwon..

This upgrade increases IKEDC’s total feeders to 141 from 128.

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Meanwhile, NERC has warned DisCos of sanctions if they fail to complete the STS meter migration by July 31, 2024.

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JUST IN: FG Raises Mining Rates by 50 Per Cent

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The Federal Government through the Ministry of Solid Minerals Development has raised the dues and rates paid by operators in the mining sector.

The Minister of Solid Minerals Development, Dele Alake, announced the price increase at an ongoing press conference at the ministry headquarters on Thursday in Abuja.

He said the government increased a total of 286 rate regimes ranging from 50 per cent to 100 per cent adding that compliance begins immediately.

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He also warned that defaulters will have their licenses revoked.

READ ALSO: Edo Guber: Shaibu Reacts To Court Ruling Voiding PDP Primary

The minister said the review was necessary due to the paucity of funds repatriated to the coffers of the government by operators.

He said the new increase will also assist the ministry enhance the ease of doing business in the sector.

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FG to revoke land titles of owners with illegal miners
Alake added that relevant stakeholders were involved in deciding the new rates adding that all parties unanimously accepted the increase.

He said, “It is therefore equitable that those who use these services to invest in the mining sector and make profits from it should be on the frontlines of the government’s efforts to recoup rather than pass it to poor Nigerians.

READ ALSO: Cooking Gas Explosion Razes Shops In Delta Market

“Thus, in line with the powers conferred on me by the Mining and Minerals Act 2007, I set up a committee of the directors of departments and directors-general of agencies under the ministry and charged them with the mandate to work out new rates to justify governments’ investment in the service infrastructures and to cope with the expected meteoric spike in the traffic of applicants besieging the regulatory machinery.

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“Today we are taking a significant step in efforts to implement the seven-point agenda to reposition the sector and international competitiveness by announcing a new regime of rates and charges for various services, departments and agencies.

“This is given qualitative measures and technological capacity upgrades implemented in recent times to raise the level of technical efficiency and improve the traffic of transactions and cope with business interest.”

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