Connect with us

News

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

Published

on

 

 

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.

Advert

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.

NTA News

News

Court Restrains Anti-Corruption Commission, Others from interfering in MAAUN’s Affairs

Published

on

Court Sign

 

A Kano High Court has granted an interim injunction restraining the Public Complaints and Anti-Corruption Commission (PCACC) and four other parties from interfering in the internal and external affairs of Maryam Abacha American University of Nigeria (AAUN), Kano.

Justice Sanusi Ado Ma’aji of the High court of Kano Judicial Division issued the order, while ruling on a motion of ex parte filed by the management of the university.

The respondents in the suit are the Kano State Government, PCACC, Kano State House of Assembly and the state’s Attorney-General and concerned parents of the institution.

Justice Ma’aji in the court order dated December 11, 2025, restrained the respondents or any other person acting on their behalf from inviting officials of the institution or interfering in the administrative and academic activities of the intuition, pending the hearing and determination of the substantive suit.

Advert

The court also directed all the parties to maintain status quo in relation to the matter between the applicant and the first respondent, pending the determination of the originating summons.

Speaking after the ruling, MAAUN’s counsel Zahraddeen M. Bello, said that the court’s decision reaffirmed the rule of law and the need for due process, saying the university will continue to operate within the confines of law, while the case is pending.

However, the court granted leave to the applicant to serve court processes on the fifth respondent at its office located at No. 224 Sabo Bakin Zuwo, Kano.

The matter was adjourned to December 29, 2025 and the order was given under the hand and seal of the presiding judge and was duly endorsed by the Principal Registrar of the court.

Continue Reading

News

Jigawa Trains Local Government Chairmen on 2025 Tax Reform Act

Published

on

 

The Jigawa Joint Task Committee has commenced a two-day capacity-building training for local government chairmen and policymakers. The two-day capacity program focused on the new Nigeria Tax Reform Act (NTA) 2025, which is scheduled to take effect nationwide on January 1, 2026.

The training gathered a contingent of state and local revenue stakeholders, including all 27 local government chairmen of Jigawa State, led by the Chairman of the Association of Local Governments of Nigeria (ALGON), revenue officers, and key policy and tax experts.

The core objective of the session was multifaceted: to enhance understanding of the NTA 2025 and its specific implications for local government administration, strengthen collaboration between state and local tiers for revenue harmonization and joint administration, and improve the technical capacity of local government leaders in deploying modern revenue processes and digital systems.

During the event, the Executive Chairman of the Jigawa Internal Revenue Service (JIRS), Dr. Nasir Sabo Idris, commended the state government’s leadership for its commitment to fiscal autonomy.

“I wish to acknowledge the immense support of His Excellency, Governor Malam Umar Namadi, FCA,” Dr. Idris said.

Advert

According to Dr. Idris, Jigawa Governor’s commitment to revenue generation has been unwavering, ensuring a consistent improvement in the state’s Internally Generated Revenue (IGR).

Dr. Idris pointed out that the upcoming launch of JigiTax, a wholly digital platform designed to streamline and modernize revenue collection across Jigawa State, is underway.

He said the move is seen as a direct response to strengthening transparency and blocking revenue leakages.

On his part, the Jigawa State Commissioner for Local Government, Ibrahim Graba Hannun-Giwa, whose address was delivered by the Director of Research, Malam Samaila Yusuf, said:

“The Ministry of Local Government is doing all it takes to continue supporting the visionary policies of Governor Namadi and driving policies that will shore up the revenue base of our local governments,” Malam Yusuf stated, emphasizing a unified approach to fiscal strength.

The dividends of the collaborative efforts were highlighted by the ALGON Chairman, who also serves as the Chairman of Dutse Local Government.

Speaking to newsmen, he asserted that the state’s disciplined approach had fundamentally altered the financial landscape at the grassroots level.

“With the commitment shown by Governor Namadi and the diligent efforts of the Jigawa Joint Revenue Committee, no local government in Jigawa now seeks intervention,” the ALGON Chairman declared.

He said, “Revenue loopholes are being systematically blocked, and improved compliance by different stakeholders, including markets and motor parks remitting their taxes, has significantly boosted our revenue drive.”

He further confirmed that the local governments had already undertaken a series of awareness trainings for all relevant stakeholders to ensure a seamless transition to the NTA 2025.

Barrister Aliyu Abdullahi said the in a paper presentation titled “State and Local Government in the Law,” by a legal practitioner. The paper specifically called for the legislative institutionalization of the Jigawa Joint Revenue Committee by the State House of Assembly. This institutional backing, the practitioner argued, would solidify the collaborative framework for revenue harmonization and ensure its longevity beyond the current administration.

 

Continue Reading

News

Former President Obasanjo Endorses Turaki’s Faction of PDP

Published

on

 

By Yusuf Danjuma Yunusa

Former President Olusegun Obasanjo hosted the national working committee (NWC) of a faction of the Peoples Democratic Party (PDP) at his residence in Abeokuta, Ogun state.

The PDP faction visited the former president on Saturday, and Kabiru Turaki led the delegation.

Advert

Those among the delegation are: Muazu Aliyu, former Niger governor; Jonah Jang, former governor of Plateau; Adolphus Wabara, former senate president, and many more.

Interacting with the delegation, Obasanjo commended the faction’s effort, adding that its members should “soldier on”.

The former president also urged the faction to remain steadfast in instilling discipline in the party, adding that:

“anybody who wants to belong to a political party must adhere strictly to its rules and regulations”.

Continue Reading

Trending