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JUST IN: FG, states, LGs shared N1.35tn in June
By Kayode Sanni-Arewa
The Federation Account Allocation Committee has disclosed that the three tiers of government shared a total sum of N1.35 trillion in June.
The amount shared was out of the total sum of N2.48tn revenue generated by various agencies and N150m more than the N1.2tn shared in May.
A statement by the Director, of Information and Public Relations, Finance Ministry, Mohammed Manga, on Tuesday said the Federal Government received a total sum of N459.776bn, the States received N461.979bn, the Local Government Councils got N337.019bn.
The Director however didn’t confirm if LGCs administrated by the caretaker committee received statutory allocations as directed by the Supreme Court.
Last week, the apex court ordered the Federal Government to immediately start the direct payment of local government funds to the latter’s exclusive accounts.
The court ordered immediate compliance with the judgement, stating that no state government should be paid monies meant for Local Governments.
The statement read, “The Federation Account Allocation Committee, at its July 2024 meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1,35tn to the three tiers of government as Federation Allocation for m a gross total of N2,48tn.
“From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax, Electronic Money Transfer Levy, Exchange Difference, and an Augmentation of N200 Billion, the Federal Government received N459.776 Billion, the States received N461.979 Billion, the Local Government Councils got N337.019 Billion, while the Oil Producing States received N95.598 Billion as Derivation, (13 per cent of Mineral Revenue).”
It added that the sum of N92.11bn was given for the cost of collection, while N1.037bn was allocated for transfer Intervention and refunds.
It said CoCompanies’ncome Tax and Value Added Tax increased significantly, Import and Excise Duties and Electronic Money Transfer levies increased marginally while Petroleum Profit, Royalty Crude, Rentals and Customs External tariff levies recorded considerably decreases.
The sum of N92.11bn was given for the cost of collection, while N1.037bn was allocated for transfer intervention and refunds.
The Communique issued by the committee at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax for June 2024, was N562.685bn as against N497.66bn distributed in the preceding month, increasing to N65.020bn.
The Communique stated, “From that amount, the sum of N22.507bn was allocated for the cost of collection and the sum of N16.205bn was given for transfers, intervention and refunds.
“The remaining sum of N523.973bn was distributed to the three tiers of government, of which the Federal Government got N78.596bn, the States received N261.987bn and Local Government Councils got N183.39bn
Accordingly, the Gross Statutory Revenue of N1.24tn was received for the month. From the stated amount, the sum of N68.95bn was allocated for the cost of collection and a total sum of N1.02tn for transfers, intervention and refunds.
The remaining balance of N142.514bn was distributed as follows to the three tiers of government: Federal Government got the sum of N48.95bn, States received N24.83bn, the sum of N19.14bn was allocated to LGCs and N49.59bn was given to Derivation Revenue (13 per cent Mineral producing States).
Also, the sum of N16.35bn from the Electronic Money Transfer Levy was distributed to the three tiers of government as follows: the Federal Government received N2.354bn, States got N7.85bn, Local Government Councils received N5.49bn, while N0.654bn was allocated for the cost of collection.
The Communique also disclosed the sum of N472.19bn from Exchange Difference, which was shared as follows: Federal Government received N224.51bn, States got N113.88bn, the sum of N87.79bn was allocated to Local Government Councils, N46.01bn was given for Derivation (13 per cent of Mineral Revenue).
It further disclosed an Augmentation of N200bn which was shared as follows: the Federal Government got N105.4bn, the States received the sum of N53.44bn, while the sum of N41.200bn was allocated to Local Government Councils.
Companies’ Income Tax and Value Added Tax increased significantly, while Import and Excise Duties and Electronic Money Transfer Levies increased marginally. Petroleum Profit, Royalty Crude, Rentals and Customs External Tariff levies recorded considerable decreases.
According to the Communique, the total revenue distributable for the current month of June 2024, was drawn from Statutory Revenue of N142.5bn, Value Added Tax of N523.98bn, N15.69bn from Electronic Money Transfer Levy, N472.19bn from Exchange Difference and Augmentation of N200bn, bringing the total distributable amount for the month to N1.36tn.
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HoR to Lead March, Launch Initiatives Against Gender-Based Violence
By Gloria Ikibah
As part of the annual 16 Days of Activism Against Gender-Based Violence, the House of Representatives is set to lead a historic march on Monday, November 25, 2024, in a bold effort to tackle gender-based violence (GBV) in the country.
The march, which begins at 8:00 AM, will see over 1,000 participants, including lawmakers and members of the public walk from the National Assembly to the Nigeria Police Force Headquarters in Abuja. The event will culminate in the submission of a petition to the Inspector General of Police, demanding decisive action against GBV and greater protection for vulnerable groups.
Speaking about the initiative, the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD., GCON, said, “This march and the activities that follow are not mere gestures but a reflection of our determination to confront gender-based violence head-on. We are committed to building a society where justice, equality, and safety prevail for all Nigerians.”
In a statement by the House Spokesperson, Rep. Akin Rotimi on Saturday in Abuja, he said, “The 10th House of Representatives has reaffirmed its commitment to systemic reforms, collaboration, and accountability in the fight against gender-based violence.
“In addition to the march, the House has outlined key activities in alignment with its Legislative Agenda (2023–2027) to sustain awareness and action throughout the campaign period.
“Sash Demonstration Ceremony – Tuesday, November 26, 2024
“Convergence of State Assembly Speakers – Monday, December 9, 2024. A strategic meeting at the Transcorp Hilton, Abuja, will bring together Speakers of State Houses of Assembly to discuss legislative measures for combating GBV nationwide.
“National Citizens’ Summit and GBV Conference 2024 – Tuesday, December 10, 2024. The summit will focus on constitutional reforms and securing endorsements for gender equality initiatives led by the House of Representatives”.
Naijablitznews.com reports that this year’s 16 Days of Activism aims to galvanise nationwide efforts and inspire collective action to protect human rights, ensure justice, and create a safer, more equitable Nigeria.
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NUJ-FCT Elections: Comrade Ike To Flag-Off Campaign With Free Medical Checks, Treatment
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President Tinubu Leaves Brazil After G20 Summit
President Bola Tinubu has departed Galeao Air force Basa (SBGL) Airport, Rio de Janeiro, Brazil, on Saturday, for Abuja after attending the 19th G20 Leaders Summit in Rio de Janeiro, Brazil.
The President is due to arrive at the Presidential Wing of Nnamdi Azikiwe International Airport, Abuja, at 10.00 p.m. (Nigerian time).
President Tinubu had attended the G20 Leaders summit where he endorsed the global alliance against hunger and poverty, which he said was pivotal.
The President also held bilateral talks with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), who commended his administration’s economic reforms and their positive indicators.
He also presided over the signing of a 2.5 billion dollar Letter of Intent between the Nigerian government and the JBS S.A., a Brazilian company and one of the top three largest meat processing companies in the World.
The president was accompanied in the trip by senior government officials including the minister of foreign affairs yusuf Tuggar, the national security adviser, Nuhu RIBADU and many others.
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