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Accountant General Reveals Total Revenue Inflow For Q1 Is N318.5bn

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…as MOFI say N10bn Realised from some agencies
By Gloria Ikibah
The Accountant General of the Federation, Oluwatoyin Madein has said that total revenue inflows to the Federal Government in the first quarter of 2024 amounted to N318.5 billion.
Madein disclosed this on Wednesday at a an interactive session organised by the House of Representatives Committee on Finance to monitor the revenue by agencies of the Federal Government.
Represented by the Director, Revenue Expenses, Felix Ogundayero, she said this was against the total expected revenue of N2.59 trillion for the year 2024, also a reconciliation of the figures was still ongoing and what was declared is what is available at the moment.
Madein further expressed confidence that it would be an exceptional year in terms of revenue for the country based on the policies of the present administration.
According to her, the bottom up cash planning policy would be adopted in implementing the 2024 budget.
She said, “Reconciliation is still being done but the total revenue inflows to the federal government for January to March amounts to N318. 5 billion as against a total budget of 2.691 trillion.
“For the budget, the bottom up cash planning policy is on course and the 2024 budget is going to be implemented via that policy and officers have been retained and sensitization is ongoing to ensure that MDAs are well equipped on the modalities and conditionalities”.
Chairman of the Committee, Rep. James Faleke explained that the essence of the sitting was in line with their duty as a parliament to oversight to ensure that the revenue estimates which were submitted by each agency before the 2024 appropriation bill was passed into law are met.
He said, “We have to ensure that those estimates are met. The Appropriation has become a law and so that revenue that you proposed to generate in the year we take it upon ourselves to do it on a quarterly basis to measure your performance.
“We want to ensure that revenue activities from January to March are in line with your appropriation. When you are giving us your figure, you tell us what the figure was expected for the generation and what you have achieved. Also tell us your expenditure”.
Chief Executive Officer, of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, also disclosed that so far N101 billion have been declared as dividends by some agencies under it.
Takang said the report presented was not comprehensive as some agencies were yet to declare their dividends due to various factors.
He said, “So far we have received dividends declared by some companies. But for many others their reports are either being prepared and have not been completed or have been completed but they have not gone to their boards for approval and subsequently the AGM and as such we cannot use the number of their dividends until that has been done based on the corporate governance rules.
“Based on the number so far, it’s about N101 billion from the entities we have identified. We continue with other entities whose dividends have not been paid to ensure we go through the process of them passing it at the board level and the AGM before the figures are sent to us and the money rendered to the treasury”.
The Chairman therefore directed that all the agencies under MOFI should produce their annual report for the past 10 years.
“All organisations under MOFI should produce their annual report for the past 10 years and the dividend that ought to have been paid, what ought to have been paid, and what was paid by each of the agencies, and of course evidence of payments,” Faleke said.
The House also berated the Nigerian Agricultural Insurance Corporation for performing far below expectations.
The Corporation, represented by Dr Philip Ashunze, had said out of a total expected revenue of N10 billion, it had only generated N70 million so far.
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JAPA! Heavy ‘wahala’ for undocumented migrants as Trump declares war

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Heavy ‘wahala’ as President-elect Donald Trump confirmed Monday that he plans to declare a national emergency on border security and use the US military to carry out a mass deportation of undocumented migrants.

Immigration was a top issue in the election campaign, and Trump has promised to deport millions and stabilize the border with Mexico after record numbers of migrants crossed illegally during President Joe Biden’s administration.

On his social media platform Truth Social, Trump amplified a recent post by a conservative activist that said the president-elect was “prepared to declare a national emergency and will use military assets to reverse the Biden invasion through a mass deportation program.”

Alongside the repost, Trump commented, “True!”

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Trump sealed a remarkable comeback to the presidency in his November 5 defeat of Democratic Vice President Kamala Harris.

He has been announcing a cabinet featuring immigration hardliners, naming former Immigration and Customs Enforcement acting chief Tom Homan as his “border czar.”

Homan appeared at the Republican National Convention in July, telling supporters: “I got a message to the millions of illegal immigrants that Joe Biden’s released in our country: You better start packing now.”

Authorities estimate that some 11 million people are living in the United States illegally. Trump’s deportation plan is expected directly to impact around 20 million families.

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While the US government has struggled for years to manage its southern border with Mexico, Trump has super-charged concerns by claiming an “invasion” is underway by migrants he says will rape and murder Americans.

During his campaign, Trump repeatedly railed against undocumented immigrants, employing incendiary rhetoric about foreigners who “poison the blood” of the United States and misleading his audiences about immigration statistics and policy.

Trump has not elaborated on his immigration crackdown in any detail but during his election campaign repeatedly vowed to invoke the Alien Enemies Act of 1798 to speed up deportations.

Critics say the law is outdated and point to its most recent use during World War II to hold Japanese-Americans in internment camps without due process.

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The number of US border patrol encounters with migrants crossing from Mexico illegally is now about the same as in 2020, the last year of Trump’s first term, after peaking at a record 250,000 for the month of December 2023.

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USAID Provides $22 Million to Support Resilience and Food Security in Madagascar

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The United States, through the United States Agency for International Development (USAID), is providing more than $22 million in additional assistance to build resilience and improve food security for Madagascar’s most vulnerable people.

The funding, representing the first year of two new five-year resilience and food security projects, will help our partners reach up to 88,000 extremely poor and marginalized households in the Androy, Anosy, and Atsimo Atsinanana regions of Madagascar. This assistance, which will be implemented by consortiums led by USAID partners Catholic Relief Services and Cultivating New Frontiers in Agriculture, will support marginalized households to build sustainable livelihoods, develop financial capital, and increase their savings and assets. It will also support households to access existing health, nutrition, and water, sanitation, and hygiene services, and bolster households’ capacity to withstand future shocks and stresses.

This support builds on USAID’s long standing emergency programming in Madagascar to respond to recurrent disasters like drought and cyclones, as well as efforts to strengthen emergency response and increase resilience in the face of these disasters. The United States has provided nearly $103 million for humanitarian assistance in Madagascar in Fiscal Year 2024 and remains committed to supporting the people of Madagascar.

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Shipping firm offer US citizens four- year trip to avoid Trump’s 2nd term

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A Florida-based cruise company, Villa Vie Residences, is offering Americans an unconventional way to “escape” from Donald Trump’s second term as United States President.

The Independent reported on Monday that the company has unveiled its Tour La Vie programme, allowing passengers to embark on a global adventure spanning four years, visiting over 140 countries without stepping foot in the US.

The Villa Vie Odyssey offers several package options, including a one-year “Escape from Reality” cruise, a two-year “Mid-Term Selection” voyage, a three-year “Everywhere but Home” option, and the four-year “Skip Forward” trip.

The founder and CEO of Villa Vie Residences, Mikael Petterson, explained that the program was not politically motivated but aimed at providing an escape for those feeling unsettled.

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“We came up with this marketing campaign before we even knew who would win. Regardless of who would have won, you would have half of the population upset,” Petterson told Newsweek.

He added, “Quite frankly, we don’t have a political view one way or the other. We just wanted to give people who feel threatened to have a way to get out.”

Sky News quoted the founder as saying, “If you’re looking for an escape… there is no better place than on a ship, right, where you can wake up every day to a new backyard and get everything you need taken care of.”

Passengers will enjoy amenities including food, drinks, WiFi, medical visits, weekly housekeeping, and bi-weekly laundry services.

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Prices start at just under $40,000 per year, with a full four-year journey costing up to $320,000 for a double-occupancy cabin. Alcohol is included at dinner, though other drinks incur extra charges.

Sky News reports that the ship, which accommodates up to 600 residents, is already sailing and allows guests to join at various ports.

It was also reported that recently, the Villa Vie Odyssey faced a four-month delay in Belfast due to necessary repairs.

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