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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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Xenophobia: FG Hints at Economic Crackdown on South African Giants MTN, DStv

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By Yusuf Danjuma Yunusa

The Federal Government has hinted at possible measures against South African companies operating in Nigeria, including telecommunications giant MTN, as outrage grows over the continued harassment and attacks on Nigerians living in South Africa.

Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, disclosed this on Thursday, while addressing concerns over the worsening anti-migrant attacks in South Africa and the evacuation of Nigerians from the country.

The minister said Nigeria had exercised restraint and continued to pursue diplomatic engagements but warned that the government might be compelled to explore other options if the attacks persist.

“As I indicated before, there are these huge conglomerates. By the way, there are over 120 South African companies operating in Nigeria.

“Nobody is asking them to provide proof of identity. Nobody is asking South African staff working there whether they are South Africans or Nigerians, and nobody is taking over their shops or businesses.

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“But this is happening to Nigerians in South Africa. So, I think that at some point, we really have to review the options available to us.

“We have MTN, MultiChoice, Stanbic, Protea and many other South African brands spanning multiple sectors,” Odumegwu-Ojukwu said.

The minister, however, stressed that any retaliatory measures would have to follow constitutional provisions and due legislative process.

She explained that the Federal Government was currently engaging South African authorities through diplomatic channels, while the National Assembly would play a constitutional role in determining Nigeria’s response should those efforts fail.

The minister also disclosed that the South African authorities discarded their memorandum of understanding with Nigeria on early warning mechanism which they had signed in October 2025.

She added that the pact was essentially to protect the lives and property of both Nigerians and South Africans in times of conflict like this.

“When it comes to situations like this, of course, it is necessary to be temperate and exercise caution. But when your citizens are being harassed, when your citizens are people who have spent years there, and mind you, some of them are married to South Africans and have children who have known no other home but South Africa, then it becomes a serious concern.

“Now, under these circumstances, they are asking not just Nigerians, but also their South African spouses and their children, to leave South Africa,” the minister said.

Recall that in May, th esenator representing Edo North, Adams Oshiomhole, called for the revocation of licences of South African companies operating in Nigeria, including MTN and MultiChoice, owners of DSTV, following renewed xenophobic attacks against Nigerians in South Africa.

The National Assembly also condemned the attacks, urging the federal government to take immediate diplomatic and protective measures to safeguard Nigerian citizens abroad.

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Accord Party Members in Kano Back Court Ruling, Reaffirm Support for Olawepo-Hashim

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Members, stakeholders and supporters of the Accord Party in Kano State have welcomed the recent intervention of the Court of Appeal in Abuja over the attempted deregistration of political parties by the Independent National Electoral Commission (INEC), describing the decision as a victory for democracy and the rule of law.

The position was contained in a communiqué issued at the end of an emergency meeting of Accord Party members and supporters of Dr. Gbenga Olawepo-Hashim held on Saturday at the Nigeria Union of Journalists (NUJ) Secretariat Conference Hall in Kano, according to the statement signed by the party’s Women Leader, Ambassador Aisha Ibrahim Ya’u, and North West Coordinator, Bashir Muhammad Goje Alade.

According to the communiqué, representatives from all 44 local government areas of Kano State attended the meeting to deliberate on recent judicial developments surrounding the Federal High Court judgment that ordered the deregistration of five political parties, including the Accord Party.

The gathering commended the Court of Appeal sitting in Abuja for granting a stay of execution of the Federal High Court judgment, stating that the appellate court’s action demonstrated a commitment to justice, due process and constitutional governance, according to the communiqué.

The party members expressed confidence in the Nigerian judiciary, describing it as a critical institution for safeguarding democracy and protecting citizens’ rights, the statement said. They noted that the Court of Appeal’s intervention had strengthened public trust in the judicial process and reaffirmed the importance of respecting established legal procedures.

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The meeting also reassured party members and supporters that the Accord Party remains a legally recognised political party pending the final determination of the matter before the courts, according to the communiqué. Participants stressed that all structures, organs and activities of the party remain valid and operational across the country.

In addition, attendees emphasised the importance of political pluralism in sustaining democratic governance, arguing that citizens should continue to enjoy a wide range of political choices, the statement noted. The meeting pledged support for all lawful efforts aimed at preserving multiparty democracy and promoting inclusive political participation.

The stakeholders commended Accord Party members across Kano State and other parts of the country for remaining calm and committed despite the uncertainty generated by the legal dispute, according to the communiqué. They praised supporters for demonstrating maturity and dedication to democratic ideals during the period.

The meeting further reaffirmed its support for Dr. Gbenga Olawepo-Hashim, describing him as a leader committed to national unity, prosperity and democratic development, the statement said. Participants urged party supporters to remain peaceful and focused on advancing the programmes and objectives of the party.

The stakeholders also called on political actors, institutions and other interested parties to respect ongoing judicial proceedings and avoid comments or actions that could interfere with the legal process, according to the communiqué.

At the conclusion of the meeting, participants passed a unanimous vote of confidence in the leadership of Dr. Gbenga Olawepo-Hashim, citing his efforts to strengthen the Accord Party’s structures and presence across wards, local government areas and communities in Kano State and throughout Nigeria, the statement added.

The communiqué was jointly signed by Ambassador Aisha Ibrahim Ya’u, Women Leader, and Bashir Muhammad Goje Alade, North West Coordinator of the Accord Party support group.

 

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In a leaked letter: Deputy Senate President Writes Minister, Seeks Revocation of multi billion Naira Kano–Gwarzo–Dayi Road Contract Over Poor Performance

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The Deputy President of the Senate, Barau I. Jibrin, has written to the Minister of Works, Dave Umahi, requesting the revocation of the contract for the Kano–Gwarzo–Dayi Road project due to the contractor’s poor performance.

The project involves upgrading the approximately 100-kilometre single-lane Kano–Gwarzo–Dayi road into a dual carriageway to improve transportation and facilitate the movement of agricultural produce from rural communities to markets across neighbouring states.

In a leaked letter, sighted by our correspondent which was personally signed by Senator Barau, the lawmaker expressed serious concern over the performance of CGC Nigeria Limited, the contractor handling the project, which was received at the Ministry of Works headquarters on June 8, 2026, noted that despite the allocations of billions to the company.

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Senator Barau stressed that the continued delay in completing the project has negatively affected residents, commuters, and economic activities along the corridor, and called for urgent and immediate action by the Ministry of Works.

According to the letter:
“Given the strategic importance of the Kano–Dayi Road to the socio-economic development of Kano, Katsina and Kebbi States, it is deeply concerning that the contractor has failed to make satisfactory progress despite the allocation of N19 billion and N37 billion to the project under the 2025 and 2026 Appropriation Acts, respectively.

“This persistent lack of progress has resulted in undue hardship for residents, commuters, and other road users.

“In view of the persistent delays and the contractor’s apparent inability to meet expected project milestones, I urge the Ministry to undertake an immediate assessment of its performance and revoke the contract in the interest of the public.”

 

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