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FAAC MARCH 2024: FG, States And LGs To Share N1.1 Trillion
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The Federation Account Allocation Committee (FAAC) on Friday shared a total sum of N1.123 trillion March 2024 Federation Account Revenue to the Federal Government, States and Local Government Council Areas after its April meeting statement by the Director of Press and Public Relations at the Office of the Accountant General of the Federation Bawa Mokwa indicated that in March 2024, import duty, value-added tax, (VAT) Gas Royalty, companies’ income tax (CIT), and others increased considerably while Excise Duty, Oil Royalty, Petroleum Profit Tax (PPT), Electronic Money Transfer Levy (EMTL) and CET Levies
FAAC in a communique at the end of the April meeting, revealed that the N1,123,391,000,000 total distributable revenue comprised distributable statutory revenue of N311.233 billion, distributable VAT revenue of N511. 879 billion, EMTL revenue of N14.754 billion, and exchange difference revenue of N285.525 billion.
The communique further revealed that total revenue of N1,867,808,000,000 was available in March 2024 and total deductions for the cost of collection was N69.537 billion while total transfers, interventions
Gross statutory revenue of N1.017 trillion was received for March 2024, a N175. 212 billion decline from the N1.192 trillion received in February 2024.
The gross revenue available from VAT in March 2024 was N549.698 billion and it is N89.210 billion higher than the N460.488 billion available in February 2024.
The total distributable revenue was shared as follows: Federal Government N345.890 billion, state governments N398.689 billion, and local government councils N288.688 billion.
The mineral-producing states received an additional N90.124 billion (13% of mineral revenue).
From the N311.233 billion distributable statutory revenue, the Federal Government received N133.960 billion, the state governments received N67.946 billion and the local government councils received N52.384 billion. The sum of N56.943 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
The Federal Government received N76.782 billion, the state governments received N255.940 billion and the local government councils received N179.158 billion from the N511.879 billion distributable VAT revenue.
N14.754 billion EMTL was also shared and the Federal Government received N2.213 billion, state governments received N7.377 billion and the local government councils received N5.164 billion.
The Federal Government received N132.935 billion from the N285.525 billion Exchange Difference revenue, state governments received N67.426 billion, and the local government councils received N51.983 billion. The sum of N33.181 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
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Finally, PDP Faction Presents 2027 Certificate of Return to Jonathan at Abuja Convention
By Kayode Sanni-Arewa
Ex-Minister of Information, Prof. Jerry Gana, on Saturday collected the Peoples Democratic Party, PDP, Certificate of Return on behalf of ex-President Goodluck Jonathan during the party’s National Convention in Abuja.
The certificate was handed over by the PDP Interim National Working Committee led by Kabiru Turaki, SAN. The presentation has renewed focus on the party’s preparations for the 2027 presidential election.
The event was held at the convention venue in Area 10, Garki, with party leaders, delegates, former ministers, state officials, and supporters in attendance.
Gana received the certificate on Jonathan’s behalf before the crowd. The moment quickly became a major talking point and put the former president back at the centre of political discussions as the PDP debates strategy and possible candidates for 2027.
Speaking to supporters and journalists after receiving it, Gana drew significant attention from attendees and political observers tracking developments in the opposition party.
The development comes as PDP continues internal discussions on leadership structure and future direction. Many members believe decisions in the coming months will shape the party’s chances in the 2027 presidential race.
Political watchers are closely following events in the PDP as it works to strengthen its position ahead of the next election cycle.
More details are expected as the convention proceeds.
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Angry protesters lockdown Ibadan, want immediate rescue of abducted Oyo teachers, pupils
Angry protesters lockdown Ibadan, demand urgent rescue of abducted Oyo teachers, pupils
Hundreds of teachers and civil society activists marched through Ibadan on Friday, demanding immediate action to free colleagues and pupils kidnapped in Oriire Local Government Area.
The protest, led by the Oyo State Teachers Action Group and the Nigeria Teachers Congress, NTC, followed the May 15 abduction of victims in Esiele and Yawota communities near Ogbomoso.
—“Do more to rescue them”—
NTC National President Rev. Bunmi Thomas told protesters the rally was lawful and necessary. “We are demanding pragmatic action from government to secure the release of the abducted teachers and students,” he said.
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While acknowledging ongoing rescue efforts, Thomas insisted more must be done: “If the government is trying and the result is not there, then efforts must be intensified.”
He raised alarm over the children’s condition: “We have kids as young as two and three years old in the bush, exposed to rain and harsh weather.”
Thomas also called for security in all public schools: “We cannot continue to work while living in danger. Government must attach security personnel to every government school.”
He stressed the protest was not against Governor Seyi Makinde: “No reasonable teacher in Oyo State is against Governor Makinde because he has performed excellently well.”
—Government responds–,
Executive Assistant on Security Matters, retired CP Sunday Odukoya, addressed protesters on behalf of the state government. “It is your constitutional right to protest and let government know your concerns,” he said, assuring that rescue operations were ongoing.
Odukoya also promised no teacher would be victimized for joining the protest.
Protesters said their only demand is the safe and swift return of the kidnapped teachers and pupils.
[ Channels TV]
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How NDC Senatorial primary was conducted in closed room-Aisha Yesufu
A Federal Capital Territory, FCT, senatorial aspirant under the platform of the Nigerian Democratic Congress, NDC, has revealed how the primary election was allegedly manipulated by some party leaders.
Recall that the activist-turned politician contested for the FCT Senate but pulled out over alleged misconduct by officials.
In a lengthy statement detailing how the primary election was conducted, Aisha alleged that the exercise was conducted in a closed room with “predetermined outcome dressed in procedural formalities”.
She said after the exercise was “repeatedly postponed”, the venue was also “changed at the last minute”.
Aisha alleged that the “guidelines of the party were not followed. Delegate based process was introduced to be conducted at a central location instead of the direct primaries to be conducted at Local Government headquarters.
“When the moment came, the contest was not decided by delegates in the open; it was affirmed in a closed room, away from the people whose voices it was supposed to reflect.
“The party will indeed go on to release statements upon statements about the free and fair nature of the Abuja FCT primaries.
“They are entitled to their voice, but the facts that transpired when litigated by conscience and the guidelines of the electoral act do not reflect justice and fairness”.
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