Connect with us

News

JUST IN: FG, States, LGs Share N722bn Federal Allocation

Published

on

The Federation Account Allocation Committee said it has shared N722.677 billion among the three tiers of government in February 2023.

The figure represents a further decrease of N27.493bn compared to N750.17bn shared in January and N267.513 to N990.19bn shared in December 2022.

FAAC disclosed this in a communiqué issued at the end of its latest meeting in Abuja on Wednesday.

READ ALSO: Court Dismisses FG’s Suit To Recover N70trn Loot Stashed In 29 Accounts

The total amount includes gross statutory revenue, Value Added Tax, electronic money transfer levies and augmentation from forex equalisation account.

Advertisement

The communique explained that the Federal Government received N269.063 billion, the states received N236.464 billion, the local government councils got N173.936 billion, while the Oil Producing States received N43.214 billion as derivation, (13 per cent of mineral revenue).

It was also noted that the gross revenue available from the Value Added Tax for February 2023 was N240.799 billion, as against N250.51bn distributed in the preceding month, which represents a decrease of N9.72 billion.

It added that Petroleum Profit Tax (PPT), Companies Income Tax (CIT), import and excise duties and oil and gas royalties all decreased significantly, while Value Added Tax and Electronic Money Transfer Levies (EMTL) decreased marginally.

Further breakdown of the allocation distributed to the three tiers of government include, “The gross revenue available from the Value Added Tax for the month of January, 2023 was N250.01bn, as against N250.51bn distributed in the preceding month, resulting in a decrease of N0.503bn.

READ ALSO: How Boxer Punched In-law To Death In Edo

“From that amount, the sum of N9.632 billion was allocated for cost of collection to FIRS and the sum of N6.935 given for transfers, savings, recoveries and refunds.

Advertisement

“The remaining sum of N224.232 billion was distributed to the three tiers of government of which the Federal Government got N33.635 billion, the states received N112.116 billion, local government councils got N78.481 billion.”

It added, “However, the balance in the Excess Crude Account (ECA) as at March 22nd, 2023 stands at $473,754.57.”

Advertisement
Comments

News

Easter: FG Declares Friday, Monday Public Holidays

Published

on

By

The Federal Government has declared Friday, 29th March and Monday, 1st April 2024 as public holidays to mark the 2024 Good Friday and Easter Monday respectively.

Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government urged Christians and all Nigerians in general to emulate the sacrifice and love displayed by Jesus Christ in dying for the redemption of man.

In a statement signed by the Permanent Secretary in the ministry, Dr Aishetu Gogo Ndayako said the Minister noted that Easter, beyond religious significance, promotes values of love, forgiveness and compassion which are essential for social cohesion and harmony.

READ ALSO: NAF Destroys Several Illegal Refining Sites, Berges In Rivers

“He calls on Christians to imbibe these virtues as they are capable of impacting positively on the socio-economic development in Nigeria by fostering unity, reducing conflicts and encouraging cooperation among Nigerians.

Advertisement

“He further urged Nigerians to show acts of charity and generosity to help alleviate the material conditions of the less privileged amongst them.

“This, he said, is in tandem with the Renewed Hope Agenda of Mr. President.”

While wishing Christians at home and abroad a happy and blissful Easter celebration, the Minister also called on Nigerians to join hands with President Tinubu led Administration in its determination to bring sustainable development and usher in prosperity to all”, the statement added.

Continue Reading

News

PHOTOS: Tinubu, Governors Pay Last Respects At burial Of 17 Slain Soldiers

Published

on

By

The remains of 17 military personnel, comprising four officers, 13 soldiers, slain by some irate youths in Okuama community in Delta State during a peace mission on March 14, have arrived at the National Military Cemetery, Abuja, for burial.

The bodies, which arrived at about 2:30 p.m., were conveyed by the FCT Ambulance Emergency Services and other vehicles.

In attendance are the Chief of Defence Staff, General Christopher Musa; Chief of Army Staff, Lt-General Taoreed Lagbaja; Chief of Air Staff, Air Marshal Hassan Abubakar, and Chief of Naval Staff, Vice Admiral Emmanuel Ogalla.

The Deputy Senate President, Jibrin Barau; and Speaker of the House of Representatives, Tajudeen Abbas, are also present.

READ ALSO: Labour Party Reserves 2027 Presidential Ticket For Peter Obi

Advertisement

Governors Sheriff Oborevwori (Delta), Duoye Diri (Bayelsa), Usman Ododo (Kogi), Uba Sani (Kaduna), Hope Uzodimma (Imo), and Abba Yusuf (Kano) also attended the ceremony.

President Bola Tinubu joined the solemn assembly at exactly 04:10p.m.

Family members and relatives of the deceased personnel, as well as those of other military officers, are also on ground to honour the fallen heroes.

Meanwhile, at the time of this report, the burial ceremony for the 17 military personnel was already underway.

VANGUARD

Advertisement
Continue Reading

News

Abure Re-elected Labour Party National Chairman; NLC Kicks

Published

on

By

The embattled national chairman of the Labour Party, LP, Mr. Julius Abure has been re-elected for a second term by a unanimous affirmation of delegates despite the protests by the leadership of the Nigeria Labour Congress (NLC).

The Chairman of the National Convention and Deputy Governor of Abia State, Mr. Ikechukwu Emetu declared him the winner during the party’s national convention that held in Nnewi, Anambra State.

Other serving officers of the party were also returned.

READ ALSO: Why Bobrisky Was Awarded Best Dressed Female – Nigerian Actress

Recall that the NLC had called for Abure’s resignation as party chairman and the immediate constitution of a caretaker transition committee to organize a legitimate and all-inclusive national convention for the party.

Advertisement

Meanwhile, a factional chairman of the Labour Party in Anambra State, Mr Peter Okoye has boasted that the Nnewi national convention will not stand.

Describing the convention as a sham, Okoye said: “This is not a convention. We are on top of the matter. It’s purely illegal.

“There was no ward congress, no local government congress, no state congress, and now who and who are the elected the delegates that are electing the National Working Committee, NWC, members?

“The NLC was not there, TUC was not there, the owners of the party and members of the NEC and BOT members were not there too. So, who is holding the convention?”

Advertisement
Continue Reading

Trending