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FAAC: Nigeria’s federal, state, local govts share N1.1411tn in October 2024
Nigeria’s three tiers of government – federal, state, and local government councils – shared a total sum of N1.1411 trillion as the October 2024 Federation Accounts Allocation Revenue.
Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant General of the Federation, OAGF, disclosed this in a statement on Wednesday.
The N1.1411 trillion shared allocation stems from N2.668 trillion gross revenue available in October 2024.
The statement showed that the amount distributed to the three tiers of government in October was higher than the N1.043 trillion received in September 2024 by N293.009 billion.
The N1.411 trillion total distributable revenue comprised distributable statutory revenue of N206.319 billion, distributable Value Added Tax (VAT) revenue of N622.312 billion, Electronic Money Transfer Levy (EMTL) revenue of N17.111 billion, and exchange difference revenue of N566.000 billion.
The Federal Government received a total sum of N433.021 billion, the state governments received a total sum of N490.696 billion, while the local government councils received a total sum of N355.621 billion.
Meanwhile, a total sum of N132.404 billion (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.
“In October 2024, oil and gas royalty, excise duty, value-added tax (VAT), import duty, petroleum profit tax (PPT), and companies income tax (CIT) increased significantly while electronic money transfer levy (EMTL) and CET levies decreased considerably,” the statement added.
The revenue was shared at the November 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Bauchi State and chaired by the Accountant General of the Federation, Oluwatoyin Madein.
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Coalition hails Wike’s massive achievements as FCT minister (Photos)
***Says False Allegations Targeted at Derailing Massive Progress
The Coalition for Truth and Justice in Nigeria (CTJN) has commended Barrister Nyesom Wike, Minister of the Federal Capital Territory (FCT), for his remarkable achievements in transforming the nation’s capital.
The CTJN said that false accusations against the Minister are aimed to derail the progress and frustrate his efforts.
The group, after an extensive appraisal of Wike’s achievements, said the Minister has proven critics wrong, demonstrating exceptional leadership and vision.
Speaking at a press conference in Abuja, convener Dr. Agabi Emmanuel said under Wike, infrastructure development has been prioritized, addressing population pressure, urban sprawl, and neglected areas.
Agabi noted that the FCT is being transformed into a useful and aesthetically pleasing capital, with proactive measures addressing housing, transportation, healthcare, and governance infrastructure.
He said Wike’s administration has addressed land grabbing, reclaiming illegally occupied lands for mass housing projects.
The group also said that judges now have befitting accommodations, and rural healthcare has seen significant investments while teacher welfare packages have been improved, and the FCT Civil Service Commission has been established to decentralize governance.
The Coalition recommends continued support from stakeholders, religious and traditional leaders promoting peaceful coexistence, and security agencies maintaining vigilance. Wike’s leadership represents a paradigm shift in governance and infrastructure development, creating a legacy worthy of duplication.
Given the right support, the group said Nigerians and FCT residents can expect improved living standards.
The Coalition commends Wike’s initiatives and encourages other states to replicate them. His achievements demonstrate commitment to equitable development, improved quality of life, and sustainable growth.
“Our findings revealed that the FCT administration under Barrister Neysom Wike indeed prioritized the provision of necessary infrastructures across the various area councils in the federal capital territory. In the past, the FCT has had problems because of population pressure, urban sprawl, and the disregard for important areas,” the statement said.
“Right now, FCT is being transformed into a useful and aesthetically pleasing capital thanks to the proactive measures made by Barrister Wike’s leadership to address these problems. In order to identify priority regions across the many area councils, the administration has used a rigorous approach.
“Undoubtedly, a functional road network is a critical factor to urban development, economic activities, and the general well-being of residents. Recognizing this, it was also observed that the FCT Administration under Barrister Nyesom Wike has undertaken a major renovation of the road network within the Federal Capital City Centre.
“This is evident in the news look of the city centre and other adjourning areas in the federal capital territory. The FCT administration has also commissioned new roads in areas that were neglected by successive administrations in the country. These efforts are not merely about repairing roads but transforming them to meet modern urban standards.
“The FCT administration, led by Barrister Wike, has made large investments in security, which is a fundamental component of any flourishing community. The FCT Administration under the leadership of Barrister Nyesom Wike has also addressed the notorious issue of land grabbing in the FCT.
“The honourable minister went a step further by reclaiming these lands which obviously are not backed with any legal or verifiable documents, and reallocating them for mass housing developmental projects. This is indeed commendable and a step in the right direction in addressing the housing deficit in the FCT while ensuring that land resources are utilized for the public good.
“The FCT administration under Barrister Nyesom Wike recently initiated steps towards providing befitting accommodation for judges. This in our opinion is brilliant and a welcome development in line with standard practices in other climes. It is believed that the members of the law deserve dignified living conditions.
“Supporting the judiciary is a step toward strengthening governance and promoting sustainable development. The Coalition for Truth and Justice in Nigeria recommends this brilliant initiative to other states in the country in our quest for sustainable growth and development.
“It is indeed a statement of the fact that the FCT administration has made substantial investments in improving access to healthcare for rural dwellers within the FCT. This much was recognized by the Coalition for Truth and Justice in the construction of new healthcare centres and the equipping of existing healthcare centres across the FCT. The value of lives and properties have been at the top priority of the working Minister.
“The FCT Administration under the leadership of Barrister Nyesom Wike has substantial improvements in the remuneration and welfare packages for school teachers in the FCT. This, in our opinion, is the manifestation of a premium placed on improving workers’ welfare in the FCT towards achieving a productive workforce to aid in the development of the FCT.
“The FCT Administration in an attempt to decentralize governance in the FCT, established the FCT Civil Service Commission with the appointment of nine permanent secretaries to oversee critical sectors of the FCT.
“The Coalition for Truth and Justice in Nigeria wishes to state in unequivocal terms that the FCT Administration under the leadership of Barrister Nyesom Wike has indeed fared brilliantly in line with the Renewed Hope Agenda of the present administration.
“Barrister Nyesom Wike’s leadership of the FCT administration represents a paradigm shift in governance and infrastructure development which is unmatchable by no one so far. He has created a legacy of transformation that’s worthy of duplicity by any leader that wishes to make a difference. We commend his initiatives and encourages other states to replicate it”.
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FG Commends Ghana for Rebuilding Nigerian High Commission Property
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I am done – Chidimma Adetshina quits pageantry
Miss Universe runner-up, Chidimma Adetshina, has announced her decision to quit pageantry.
Speaking during a recent interview with Silverbird TV, Adetshina said pageantry has been a traumatic experience for her.
She said she’s quitting for personal reasons and relocating to Nigeria from her estranged country, South Africa.
“Finishing in the top 2 [at the Miss Universe competition] is still a shocker for me… Honestly, I am done. Pageantry was a real traumatic experience for me,” she said.
“People still don’t understand how I felt. There were times when I almost quit during the Miss Universe contest. I’m really done with pageantry. I want to focus on myself and establish who I am. And forward my education as well.”
After finishing as 1st runner-up at the Miss Universe competition, Adetshina was named Miss Universe Africa and Oceania.
She won Miss Nigeria after withdrawing from the Miss South Africa contest after she attracted scrutiny over her nationality.
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