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Federal Government ,States,LGA’s Share 1.289 Trillion Naira For The Month Of September

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The Federation Account Allocation Committee (FAAC), at its October 2024 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.298 Trillion to the three tiers of government as Federation Allocation for the month of September, 2024 from a gross total of N2.298 Trillion.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference (ED and Augmentation of N150.000 billion, the Federal Government received N424.867 Billion, the States received N453.724 Billion, the Local Government Councils got N329.864Billion, while the Oil Producing States received N90.415 Billion as Derivation, (13% of Mineral Revenue).

The sum of N80.993 Billion was given for the cost of collection, while N878.946 Billion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of September 2024, was N583.675 Billion as against N573.341 Billion distributed in the preceding month, resulting in a increase.

From that amount, the sum of N23.347 Billion was allocated for the cost of collection and the sum of N16.810 Billion given for Transfers, Intervention and Refunds. The remaining sum of N543.518 Billion was distributed to the three tiers of government, of which the Federal Government got N81.258 Billion, the States received N271.759 Billion and Local Government Councils got N190.231 Billion.

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Accordingly, the Gross Statutory Revenue of N1.043 Trillion received for the month was lower than the sum of N1.221 Trillion received in the previous month by N177.426 Billion. From the stated amount, the sum of N56.878 Billion was allocated for the cost of collection and a total sum of N862.136 Billion for Transfers, Intervention and Refunds.

The remaining balance of N124.718 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N43.037 Billion, States received N21.829 Billion, the sum of N16.829 Billion was allocated to LGCs and N43.021 Billion was given to Derivation Revenue (13% Mineral producing States).

Also, the sum of N19.213 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.767 Billion, States got N9.222 Billion, Local Government Councils received N6.456 Billion, while N0.768 Billion was allocated for Cost of Collection.

The Communique also disclosed the sum of N462.191 Billion from Exchange Difference, which was shared as follows: Federal Government received N218.515 Billion, States got N110.834 Billion, the sum of N85.448 Billion was allocated to Local Government Councils, N47.394 Billion was given for Derivation (13% of Mineral Revenue).

It further disclosed of the Augmentation of N150.000 Billion which was shared as follows:
Federal Government received N70.020 Billion, the States got N40.080 Billion and the LGCs received N30.900 Billion.

Oil and Royalty, Excise Duty, Electronic Money Transfer (EMTL) and CET levies increased considerably. While Value Added Tax (VAT) and Import Duty increased marginally. Petroleum Profit Tax (PPT) and Company Income Tax (CIT) and others recorded significant decreases.

According to the Communique, the total revenue distributable for the current month of September 2024, was drawn from Statutory Revenue of N124.716 Billion, Value Added Tax (VAT) of N534.518 Billion, N18.445 Billion from Electronic Money Transfer Levy (EMTL), N462.191 Billion from Exchange Difference and Augmentation of N150.000 Billion, bringing the total distributable amount for the month to N1.298 Trillion.

The balance in the Excess Crude Account (ECA) as at October 2024 stands at $473.754

In his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, restated the President Bola Ahmed Tinubu-led Administration’s commitment to implementing policies, programmes and initiatives that will enhance revenue generation with a view to enhancing the overall well-being of Nigerians in line with contemporary realities.

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Tinubu Seeks Senate Confirmation for Magnus Abe, 20 Other Appointees 

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By Yusuf Danjuma Yunusa

 

President Bola Tinubu has written two letters to the Senate, seeking confirmation of 21 nominees as board members of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

According to a statement by presidential spokesman, Bayo Onanuga, in the first letter addressed to the Senate President, President Tinubu nominated Senator Magnus Abe to serve as the NUPRC board chair. Abe, who represented Rivers South East in the Senate for two terms, is a former NNPC board member and current chairman of the National Agency of the Great Green Wall.

Other nominees for the NUPRC board are Engineer Paul Yaro Jezhi, a former Trade Union Congress (TUC) chairman in Kaduna State, and Sunday Adebayo Babalola, a former deputy director of the defunct Department of Petroleum Resources (DPR), which was abolished by the PIA in 2021. Both men will serve as non-executive commissioners.

President Tinubu also nominated executive commissioners to the board.

They are: Muhammed Sabo Lamido, executive commissioner for finance; Mr Edu Inyang, executive commissioner for Exploration and Acreage; Justin Ezeala, executive commissioner for economic regulation and strategic planning; and Henry Darlington Oki, executive commissioner for Development and Production.

Others are Indabawa Bashari Alka, executive commissioner for corporate services and administration; Mahmood Tijani, executive commissioner for health, safety and environment; and Ms Olayemi Adeboyejo, as secretary and legal adviser.

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Recall that former President Muhammadu Buhari appointed Lamido and Adeboyejo in 2022, while President Tinubu appointed Alka in 2023. Inyang, Ezeala, the former managing director of Nigerian Gas Marketing Limited, Mahmood Tijani, Babalola and Jezhi are new appointees of President Tinubu.

In his second letter to the Senate, President Tinubu nominated Mr Adegbite Ebiowei Adeniji, a lawyer, as chairman of the NMDPRA board.

Adeniji has over 30 years of experience in energy and natural resources issues. He was a special technical adviser to the Minister of State for Petroleum on upstream and gas until 2018.

He was a member of the Oil & Gas Policy team at the World Bank, which advised the Government of Nigeria on the reform and restructuring of the petroleum sector, including the development of the Strategic Gas Plan for Nigeria. He is currently the managing partner at ENR Advisory.

President Tinubu also nominated Chief Kenneth Kobani and Mrs Asabe Ahmed as non-executive members. Kobani was a former minister of state for trade under President Jonathan and secretary to the government of Rivers State, under Nyesom Wike.

Also nominated for confirmation are Abiodun Adeniji, executive director of finance; Francis Ogaree, executive director of hydrocarbon; Oluwole Adama, executive director of midstream and Downstream gas infrastructure; and Dr Mustapha Lamorde, executive director of Corporate Services and Administration. President Tinubu appointed Adama in 2024, while late President Buhari appointed Lamorde and Adeniji in 2021 and Ogaree in 2022.

Other members of the NMDPRA board, as proposed by President Tinubu, are Mr Yahaya Nasamu Yinusa, executive director, distribution systems; Adeyemi Murtala Aminu, executive director, corporate services; Ms Modie Ogechukwu, executive director, economic regulation and strategic planning; and Barrister Olawale Dawodu, as board secretary and legal adviser. Dawodu is an industry player and was, at a time, the Financial Reporting Manager at Exxon Nigerian subsidiaries.

The President urged the Senate to approve the nominees expeditiously.

The requests followed the recent appointment of chief executive officers (CEOs) for the two regulatory agencies.

The Senate had confirmed Oritsemeyiwa Eyesan as the chief executive officer (CEO) of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA toward the last days of December, 2025.

The President charged all the appointees and nominees to discharge their duties and responsibilities professionally as regulators of the oil and gas sectors.

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APC, Wike Trade Blazing Words Over Rivers Politics”

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By Yusuf Danjuma Yunusa

A fiery war of ” words has erupted between the All Progressives Congress (APC) and the Minister of the Federal Capital Territory, Nyesom Wike, following his warning to the party’s National Secretary, Ajibola Basiru, to stay out of Rivers State politics.

During a “thank-you” visit to Oyigbo Local Government Area on Monday, Wike issued a stern caution to Basiru, accusing him of meddling in his state affairs.

“Let me warn those who come to Rivers State because you have heard we have N600bn—you come here, collect, and open your mouth to talk anyhow,” Wike declared.

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“Take this message to your National Secretary: Leave Rivers State alone. You have to be careful with the statements you make.”

In a sharp and direct response, Basiru fired back hours later in a personally signed statement. He questioned Wike’s authority to interfere in APC affairs, pointing out that the minister is not a member of the ruling party.

“My advice to him is that he should resign as Minister and face his obsession with Rivers politics,” Basiru stated.

He asserted his constitutional role as APC National Secretary extends nationwide and dismissed Wike’s remarks as intimidation.

“From my record, he isn’t a member of APC. I don’t see which authority or temerity he has to dabble into APC affairs,” Basiru said.

“I am one of the young Nigerians that confronted military dictatorship. I can’t be bullied by anybody, no matter how highly placed.”

Basiru also strongly denied any interest in Rivers State funds, labeling the suggestion as baseless and inconsistent with his record of integrity.

The clash underscores the ongoing tension between federal appointees and party officials, with Wike’s deep involvement in Rivers politics continuing to spark cross-party controversy even while serving as a minister under an APC-led government.

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KEDCO Promotes 1500 Staff In Major Staff Welfare, Performance Boost

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Kano Electricity Distribution Company (KEDCO) has approved a merit-based promotion of 1,500 members of staff as part of its ongoing commitment to staff welfare, motivation, and building a performance-driven workforce.

In a statement released by the company’s spokesperson, Sani Bala Sani, it was highlighted that the promotion exercise is the most significant in the company’s history, underscoring KEDCO’s renewed commitment to human capital development as a critical pillar of its ongoing transformation agenda under the current core investor-Future Energies Africa (FEA) and management.

According to the statement, the exercise followed a comprehensive performance appraisal process and aligns with best practices in corporate governance, fairness, and transparency. It was designed to recognize deserving staff who met the eligibility criteria in line with the company’s conditions of service, and have demonstrated dedication, competence, and resilience in supporting the company’s operational turnaround and improved service delivery.

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Speaking on the development, KEDCO’s Managing Director and Chief Executive Officer, Dr. Abubakar Shuaibu Jimeta described the move as a strategic investment in people, noting that the staff remain the company’s greatest asset.

“This promotion exercise is not just a reward for hard work; it is a statement of intent. At KEDCO, we are building a culture where performance is recognized, excellence is encouraged, and our people are empowered to deliver value to our customers and stakeholders,” the MD/CEO said.

The development forms part of broader workforce reforms aimed at boosting productivity, enhancing customer experience, and positioning KEDCO to meet the evolving demands of the power sector. It also reflects the company’s resolve to foster industrial harmony and sustain a motivated workforce capable of driving operational efficiency.

In a statement by Sani Bala Sani Head corporate communications KEDCO reaffirms its commitment to continuous staff development, capacity building, and improved welfare, stressing that a motivated workforce remains central to achieving reliable, efficient, and customer-focused electricity distribution across its franchise area.

 

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