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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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PenCom Alleges Non-adherence to Pension Laws

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By Yusuf Danjuma Yunusa

 

The National Pension Commission has said that only seven states and the Federal Capital Territory are fully implementing pension reform laws despite widespread adoption of contributory pension frameworks across the country.

 

The Director-General of the National Pension Commission, Mrs Omolola Oloworaran, disclosed this on Thursday in Abuja during the maiden edition of the bi-annual consultative session for heads of service of states yet to adopt or fully implement the Contributory Pension Scheme or the Contributory Defined Benefits Scheme.

 

She said, “Out of the 36 states with pension reform laws on their books, only seven states, together with the Federal Capital Territory, are fully implementing these laws.”

 

The session was organised to encourage dialogue with affected state heads of service and to explore practical ways in which PenCom could provide technical support for the successful adoption and implementation of pension reforms at the sub-national level.

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According to Oloworaran, 30 states and the FCT had enacted laws on the contributory pension scheme or the contributory defined benefits scheme, while six states still had pension reform bills awaiting passage in their state assemblies.

 

She noted that 23 states had pension laws that were either inactive or only partially implemented, leaving many civil servants uncertain about their retirement future.

 

“That leaves 23 states whose laws are written, inactive, or only partially being implemented. Twenty-three sets of public servants or civil servants whose retirement future hangs in the balance, not because there is no law, but because the law has not been activated,” she said.

 

The PenCom boss described pension reform as a constitutional and fiscal obligation rather than a policy option, citing Section 210 of the 1999 Constitution, which guarantees pension rights for civil servants.

 

She said the old pension structure had failed because it created uncertainty and unsustainable liabilities, adding that the contributory pension scheme was introduced to promote accountability, sustainability, and transparency in pension administration.

 

Oloworaran stressed that the main challenge facing many states was no longer the passage of pension laws but the discipline required for implementation, including regular remittance of pension contributions and adequate funding of accrued pension rights.

 

“Across our states, the challenge is no longer the enactment of laws. The challenge is the discipline of execution. It is the regular and timely remittance of contributions. It is the adequate and consistent funding of accrued pension rights,” she stated.

 

She urged heads of service to see pension reform as part of their governance legacy, noting that the success or failure of implementation in states would largely depend on their commitment.

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NECO Computer-based Exams Will Commence this Year–Education Minister

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By Yusuf Danjuma Yunusa

 

 

The Federal Government on Thursday unveiled a major reform in Nigeria’s examination system with the introduction of computer-based examinations, CBE, by the National Examinations Council, NECO, as the nation celebrated the examination body’s 25 years of existence amid glowing tributes to its rise from a troubled national initiative to an internationally recognised.

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The minister of education, Dr Tunji Alausa, who announced the reform at NECO’s Silver Jubilee celebration in Abuja, declared that the transition to technology-driven examinations would significantly curb examination malpractice and reposition Nigeria’s assessment system for global competitiveness.

 

Speaking at the event held at the Bola Ahmed Tinubu Conference Centre, Garki, Abuja, Alausa described NECO as a “standard-bearer for credible external examinations”, saying the council had become a critical pillar in safeguarding integrity, fairness and accountability in Nigeria’s education sector.

 

“We are at the threshold of a very important reform, which NECO is spearheading, and that is the Computer-Based Examination, which is to commence this year,” the minister said.

 

According to him, the new system would provide real-time monitoring of candidates, track suspicious activities and drastically reduce examination fraud that has continued to undermine confidence in public examinations.

 

The minister said NECO’s 25-year journey reflected Nigeria’s determination to build a credible national examination system capable of guaranteeing equal opportunities for learners across the country.

 

He noted that the council had over the years strengthened examination security, improved reliability in scoring, widened access to examinations in underserved areas and embraced technological innovations that restored public confidence in national certification.

 

 

Alausa said the Ministry of Education would continue to provide policy direction and oversight to ensure NECO examinations aligned with national curricula, learning outcomes and broader development goals.

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2026Hajj: Nigerian Pilgrims Begin Movement from Madinah to Makkah

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By Yusuf Danjuma Yunusa

 

The National Hajj Commission of Nigeria (NAHCON) has announced that Nigerian pilgrims in Madinah have begun their movement to Makkah as of Thursday.

 

According to an update from the commission, the transfer commenced after the pilgrims had completed a four-day stay in Madinah.

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NAHCON further disclosed that the four official airlines handling this year’s Hajj operations—Max Air, Umza Airline, Air Peace, and Flynas—have so far transported 9,756 pilgrims to Saudi Arabia.

 

The commission also advised pilgrims intending to visit the Rawdah (the sacred area containing the Prophet Muhammad’s burial chamber in Madinah) before departing for Makkah to coordinate with their respective State Pilgrims’ Welfare Boards for proper guidance and scheduling.

 

“NAHCON wishes to assure the Nigerian contingent that officials of state pilgrims’ welfare boards have already been trained and adequately guided on the procedures for booking Rawdah visits,” the statement read.

 

“However, pilgrims are kindly reminded that due to congestion and crowd management measures, access to the Rawdah is strictly subject to space availability and approved bookings. Pilgrims are therefore advised to remain patient, orderly, and to heed the guidance of their Ulama regarding the validity and acceptance of their Hajj rites.”

 

The commission emphasized that while visiting the Rawdah is a blessed opportunity, it is not a condition for the validity of Hajj.

 

“Allah grants such opportunities according to His will,” NAHCON added.

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