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FG, States, LGs Share N1.4trn For June

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The Federation Account Allocation Committee (FAAC), today, shared a total of N1.354 trillion to the three tiers of government.

A communique at the end of its meeting in Abuja indicated that the funds came from the Federation revenue earned in June

The distributable revenue comprised statutory revenue of N 142.5 billion, distributable Value Added Tax (VAT) revenue of N523.973 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.692 billion, Exchange Difference revenue of N472.192 billion and Augmentation of N200.000 billion.

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Total revenue of N2.483 trllion was available in the month of June 2024.

READ ALSO: NYSC Committed To Providing Startup Loans To Corps Members – Official

Total deduction for cost of collection was N92.112 billion while total transfers, interventions and refunds was N1,037.407 billion.

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Gross statutory revenue of N1.432 trillion was received for the month of June 2024.

This was higher than the sum of N1.223 trillion received in month of May 2024 by N208.773 billion.

The gross revenue of N562.685 billion was available from the Value Added Tax (VAT) in June 2024. This was higher than the N497.665 billion available in the month of May 2024 by N65.020 billion.

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The communiqué stated that from the N1,354.371 billion total distributable revenue, the Federal Government received total sum of N459.776 billion, the State Governments received total sum of N461.979 billion and the Local Government Councils received total sum of N337.019 billion.

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

A total sum of N95.598 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

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On the N142.514 billion distributable statutory revenue, the communiqué stated that the Federal Government received N48.952 billion, the State Governments received N24.829 billion and the Local Government Councils received N19.142 billion.

The sum of N49.591 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

The Federal Government received N78.596 billion, the State Governments received N261.987 billion and the Local Government Councils received N183.391 billion from the N523.973 billion distributable Value Added Tax (VAT) revenue.

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READ ALSO: FG, States, LGs Share N714.629bn March FAAC Revenue

A total sum of N2.354 billion was received by the Federal Government from the N15.692 billion Electronic Money Transfer Levy (EMTL). The State Governments received N7.846 billion and the Local Government Councils received N5.492 billion.

From the N472.192 billion Exchange Difference revenue, the Federal Government received N224.514 billion, the State Governments received N113.877 billion and the Local Government Councils received N87.794 billion. A total sum of N46.007 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

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On the N200.000 billion augmentation, the Federal Government received N105.360 billion, the State Governments received N53.440 billion and the Local Government Councils received N41.200 billion.

According to the communiqué, in the month of June 2024, Companies Income Tax Oil (CIT) and Value Added Tax (VAT) increased significantly while Import and Excise Duties and Electronic Money Transfer Levy (EMTL) increased marginally. Royalty Crude, Petroleum Profit Tax (PPT), Rentals and CET Levies recorded considerable decreases.

The balance in the ECA was $473,754.57

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Peru Anti-government Protesters Clash With Police

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Hundreds of anti-government protesters clashed with police in the Peruvian capital Lima on Saturday, throwing stones and sticks as officers fired tear gas on the demonstrators, AFP journalists reported.

The protest, organized by a youth collective called “Generation Z”, is part of growing social unrest in Peru against organized crime, corruption in public office, and a recent pension reform.

“Today, there is less democracy than before. It’s getting worse… because of fear, because of extortion,” said 54-year-old protester Gladys, who declined to give her last name.

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Around 500 people gathered in the city center, under heavy police presence.

READ ALSO:FULL TEXT: US Govt Releases Text Messages Between Charlie Kirk’s Suspect, Roommate

Congress has no credibility, it doesn’t even have the approval of the people… It is wreaking havoc in this country,” said protester Celene Amasifuen.

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The clashes broke out as demonstrators tried to approach executive and congressional buildings in Lima.

The radio station Exitosa said that its reporter and a cameraman were hit by pellets, commonly fired by law enforcement.

READ ALSO:‘Over 7,000 Nigerians Sought Asylum In Sweden In 24 Years’

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Police said at least three officers were wounded.

Approval ratings for President Dina Boluarte, whose term ends next year, have plummeted amid rising extortion and organized crime cases.

Several opinion polls show the government and conservative-majority Congress are seen by many as corrupt institutions.

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This week, the legislature passed a law requiring young adults to join a private pension fund, despite many facing a precarious working environment.

AFP

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Fresh World Trouble Looms As Netanyahu Tells Western Leaders ‘There Will Be No Palestinian State’

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Israeli Prime Minister Benjamin Netanyahu on Sunday said there would be no Palestinian state, in a message addressed to the leaders of Britain, Australia and Canada after they recognised Palestinian statehood.

“I have a clear message for those leaders who recognise a Palestinian state after the horrific massacre on October 7: you are granting a huge reward to terror,” he said.

And I have another message for you: it will not happen. No Palestinian state will be established west of the Jordan River.”

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READ ALSO:Israel Begins Ground Offensive In Gaza Despite International Criticism

Britain, Australia and Canada on Sunday became the first tripartite Western nations to recognise a Palestinian state.

Britain and Canada became the first G7 countries to take the step, with France and other nations expected to follow at the annual UN General Assembly, which opens Monday in New York.

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Today, to revive the hope of peace for the Palestinians and Israelis, and a two-state solution, the United Kingdom formally recognises the State of Palestine,” UK Prime Minister Keir Starmer said in a message on X.

READ ALSO:Palestinians Flee As Israel Intensifies Assault On Gaza City

Canada recognises the State of Palestine and offers our partnership in building the promise of a peaceful future for both the State of Palestine and the State of Israel,” Canadian Prime Minister Mark Carney wrote on X.

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This comes after decades of requests for sovereignty from the Palestinian side.

Portugal was also to recognise Palestinian statehood later Sunday, as Israel came under huge international pressure over the war in Gaza triggered almost two years ago by the October 7, 2023, Hamas attack.

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Badenoch Slams UK’s Palestine Recognition Decision As ‘Absolutely Disastrous’

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Conservative Party leader Kemi Badenoch condemned the Prime Minister Keir Starmer-led United Kingdom’s decision to formally recognise the State of Palestine.

PUNCH Online reports that Britain, alongside Australia and Canada, on Sunday recognised a Palestinian state in a seismic shift in decades of Western foreign policy.

Britain and Canada became the first G7 countries to take the step, with France and other nations expected to follow at the annual UN General Assembly, which opens Monday in New York.

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However, the decision triggered swift Israeli anger and condemnation from the opposition.

READ ALSO:Our Country A Home, Not Hotel, Badenoch Decries UK Immigration Crisis

Reacting in a statement on her X on Sunday, Badenoch described the move as “absolutely disastrous.”

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She argued the move rewards terrorism with no conditions, and the decision would be widely regretted.

She said, “Absolutely disastrous. We will all rue the day this decision was made. Rewarding terrorism with no conditions whatsoever put in place for Hamas.

“It leaves hostages languishing in Gaza and does nothing to stop the suffering of innocent people caught in this war.”

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The Winchester opposition leader accused Labour of pandering to its “hard left” rather than fixing Britain’s pressing domestic problems.

READ ALSO:Badenoch Slams UK PM For Cutting Defence Funding Amid Global Threats

It is because Labour cannot fix the big problems in our society that they focus on discredited student union campaigns to appease the hard left.”

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Listing examples of Labour’s failings, she said, “They cannot fix the NHS, so they push assisted suicide. – They cannot create jobs for young people, so they give them votes at 16.

“They cannot sort out immigration, but they will recognise Palestine instead. And so on. This is the same man who paid £35bn of reparations to Mauritius along with the surrender of the Chagos islands.”

Badenoch also criticised what she described as the prime minister’s lack of judgment.

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READ ALSO:British Citizenship: Shocker As Badenoch Proposes 15 Years For Immigrants

“Everything we are seeing is a consequence of a Prime Minister who has no plan for the country and no judgment.

“He will spend the next four years delivering the hobbyhorses of the Labour left to stay in power and leave a HUGE mess for us to clean up.”

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Earlier, Starmer announced the recognition of Palestine in a post on X, saying the move was intended to provide a two-state solution.

He said, “Today, to revive the hope of peace for the Palestinians and Israelis, and a two-state solution, the United Kingdom formally recognises the State of Palestine.”

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