Connect with us

National

FAAC: FG, States, LGs share N1.424 trn December 2024 revenue

Published

on

A total sum of N 1.424 trillion, being Dec. 2024 Federation Account Revenue has been shared to the Federal Government, states, and the Local Government Councils (LGCs).

This is contained in a statement by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF).

Mokwa said that the revenue was shared at the January Federation Account Allocation Committee (FAAC) meeting on Friday in Abuja.

Meanwhile, a communiqué from the FAAC meeting said that the N1.424 trillion total revenue comprised statutory revenue of N386.124 billion, and Value Added Tax (VAT) revenue of N604.872 billion.

It also comprised Electronic Money Transfer Levy (EMTL) revenue of N31.211 billion and Exchange Difference revenue of N402.714 billion.

The communiqué indicated that total gross revenue of N2.310 trillion was available in Dec. 2024.

It said that total deduction for cost of collection was N84.780 billion while total transfers, interventions, and refunds were N801.175 billion.

“Gross statutory revenue of N1.226 trillion was received for Dec. 2024. This was lower than the sum of N1.827 trillion received in of Nov. 2024 by N600.988 billion.

“Gross revenue of N649.561 billion was available from VAT in Dec. 2024. This was higher than the N628.973 billion available in Nov. 2024 by N20.588 billion,” it said.

The communiqué said that from the N1.424 trillion total distributable revenue, the Federal Government received the total sum of N451.193 billion, while the state governments received the sum of N498.498 billion.

It said that the LGCs received N361.754 billion, and a total sum of N113.477 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

ALSO READ:  "My family never chop" – VIO Offender Cries in Viral Video

“On the N386.124 billion statutory revenue, the Federal Government received N167.690 billion, and the state governments received N85.055 billion.

“The LGCs received N65.574 billion, and the sum of N67.806 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

“From the N604.872 billion VAT revenue, the Federal Government received N90.731 billion, the state governments received N302.436 billion and the LGCs received N211.705 billion,” it said.

It further said that a total sum of N4.682 billion was received by the Federal Government from the N31.211 billion EMTL.

It said that the state governments received N15.605 billion, and the LGCs received N10.924 billion.

“From the N402.714 billion Exchange Difference revenue, the communiqué said that the Federal Government received N188.090 billion, and the state governments received N95.402 billion.

It said that the LGCs received N73.551 billion, while the sum of N45.671 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

It said that in Dec. 2024, VAT and EMTL increased significantly while Oil and Gas royalty, CET levies, excise duty, import duty, petroleum profit tax and companies income tax decreased considerably.(NAN)

National

24 federal tertiary institutions powered by solar energy – Minister

Published

on

The Minister of Education, Tunji Alausa says 24 federal institutions have been powered by solar energy under the “Energising Education Project’’ of President Bola Tinubu led administration.

Alausa, who disclosed this on Wednesday in Abuja, at the Collaboration Agreement Signing Ceremony with the Vice Chancellors of beneficiary institutions added that eight more universities have signed collaboration agreements to join the fourth phase of the project.

The News Agency of Nigeria (NAN) reports that, before the signing ceremony, the minister undertook an inspection tour of the solar powered facility at the University of Abuja, now Yakubu Gowon University,

Alausa who described the project as a “new day for Nigeria” hailed the transformative initiative under Tinubu, aimed at providing uninterrupted power supply to Nigeria’s federal tertiary institutions.

He said the projects had wide-reaching benefits for education and the economy.

According to him, the University of Abuja, which now boasts of a solar farm, comprising 6,000 photovoltaic panels, is generating approximately 3.3 megawatts of electricity daily, enough to power the campus round-the-clock.

“This project brings continuous, 24-hour electricity to our institutions.

“It allows for increased academic activity, powers laboratories and libraries throughout the day and night, and improves living and learning conditions for both students and faculty,’’ he said.

The minister emphasised the economic ripple effect of the initiative, explaining how reliable electricity stimulates business within campuses.

“Any campus is a community by itself. With constant power supply, you unleash high economic activity,” he said.

The Minister explained that the project was backed by the Renewable Infrastructure Fund established by President Tinubu, to support infrastructure development across sectors.

ALSO READ:  Northern Women Advocate For Gender-Sensitive Tax Policies

He, therefore, challenged Vice Chancellors of universities on innovative and creative ways of sustaining the project, noting that before 2027, every tertiary institution would have renewable energy generation.

On his part, the Managing Director, Rural Electrification Agency (REA), Abba Aliyu said that the phases 1, 2, and 3 of the project have so far impacted over 600,000 students and 50,000 academic staffers.

Aliyu said that the project had also generated over 100 megawatts of electricity to power university campuses and teaching hospitals.

He said the initiative, implemented through multiple phases, had already brought solar mini-grid infrastructure to 24 federal universities across the country.

“What you are seeing here is one of our interventions in the education sector, and the aim is to ensure that universities have a sustainable and affordable electricity supply,” he said

In addition to educational institutions, he said the Universal Public Health Project, part of phase 2, had successfully delivered clean energy to two universities and two teaching hospitals.

He added that the Phase 3, which includes electrification of eight more universities and one additional teaching hospital, is near completion and set to be commissioned in the coming two months.

The News Agency of Nigeria (NAN) reports that the eight new beneficiary institutions include: Ahmadu Bello University, Zaria, University of Nigeria, Nsukka, and Federal University, Wukari, Taraba state.

Others are Federal University Dutse, University of Benin, University of Ibadan, Obafemi Awolowo University, Ile-Ife and University of Lagos. (NAN)

Continue Reading

National

APC Group To Tinubu:Stop Illegal Third-Term Bids In Lagos LG Officials

Published

on

A pro-democracy group, the Progressive Group for Democracy (PGD), has called on President Bola Tinubu to intervene and stop local government officials in Lagos State from pursuing unconstitutional third terms in upcoming council elections.

The group alleges that officials in Agbado Oke-Odo and Ikosi Isheri Local Council Development Areas (LCDAs) are exploiting legal loopholes to extend their tenures, in violation of Nigeria’s Constitution.

Speaking at a press conference in Abuja on Tuesday, PGD National Coordinator Aladesanmi Abiodun Salawu described the move as a “clear violation” of constitutional provisions and a threat to Nigeria’s democracy.

He invoked President Tinubu’s historical opposition to tenure elongation, referencing the president’s fierce resistance to former President Olusegun Obasanjo’s third-term bid in the early 2000s.

“As a pro-democracy group, we are reminded of President Tinubu’s fierce opposition to Obasanjo’s third-term agenda. President Tinubu stood firmly against constitutional manipulation then. Where is the president’s voice now?” Salawu asked.

The PGD alleges that the officials in question assumed office following the deaths of elected chairpersons, took oaths of office, and later won full terms in subsequent elections.

“Their current bids for re-election, the group argues, constitute an unconstitutional third term. Salawu cited the Fourth Alteration to the Constitution, signed into law by former President Muhammadu Buhari in 2018, which prohibits individuals from seeking a third term after completing a predecessor’s tenure and winning a subsequent election.

“Today, we stand at a very dangerous crossroads. The same anti-democratic forces that our heroes fought against during the June 12 struggle are re-emerging in Lagos State,” Salawu said.

“In Agbado Oke-Odo and Ikosi Isheri LCDAs, we are witnessing a calculated attempt to normalise constitutional violations through the backdoor.”

ALSO READ:  Tinubu sends N1.78tr FCT budget to National Assembly for approval

The group also criticised Lagos State Governor Babajide Sanwo-Olu, accusing him of complicity due to his silence on the issue. “As the chief security officer of Lagos State, (Sanwo-Olu)has a constitutional duty to uphold the rule of law. His silence is not just concerning; it is complicity,” Salawu said.

The PGD urged President Tinubu to publicly denounce the third-term bids and called on the Attorney General of the Federation to issue an advisory on term limits for local government administrations.

It also demanded that the Lagos State Independent Electoral Commission (LASIEC) disqualify candidates seeking unconstitutional terms.

“These individuals in Agbado Oke-Odo and Ikosi Isheri LCDAs must withdraw their candidacy immediately. We are not making a request; we are stating what the constitution already mandates,” Salawu declared.

The group vowed to challenge the alleged violations through legal means, including mobilising civil society, approaching the courts, and organising peaceful protests if necessary.

“The Lagos Society for Good Governance will utilise every legal means available to challenge this dangerous precedent,” Salawu added.

Continue Reading

National

Rivers political crisis: National Assembly to set up reconciliation committee

Published

on

The Speaker of the House of Representatives, Rep. Tajudeen Abbas says the National Assembly will set up a reconciliation committee to address the political differences in Rivers.

Abbas made this known while addressing members of the house at resumption of plenary from the Easter/Sallah break on Tuesday.

According to him, in the coming weeks, we shall work with the Senate to constitute a high-level committee on reconciliation.

”It will comprise of respected national figures that will facilitate dialogue, promote peace, and support the restoration of democratic order in Rivers and other conflict-affected regions.”

Abbas also condemned the unjustified killings of innocents Nigerians in Borno, Plateau, Benue, and Kwara by terrorists.

He noted that the resurgence of terrorist attacks in the North-East and communal clashes in Plateau have also resulted in fatalities.

”The House unequivocally condemns these attacks on innocent citizens. We acknowledge the need for renewed investment in security intelligence, surveillance technology, and inter-agency coordination.

”On behalf of the House, I extend heartfelt condolences to the bereaved families and urge our security agencies not to only bring the perpetrators to justice but also redouble efforts to prevent further violence,” he said.

The speaker further said that environmental forecasts indicated that more than 30 states would face severe flooding during the upcoming rainy season.

He urged all relevant committees of the house to work with the Executive branch to review the country’s emergency preparedness, propose mitigation strategies, and provide oversight legislative frameworks on disaster risk management and climate resilience.

”As we prepare to address these immediate environmental challenges, we must also focus on our long-term legislative priorities.

ALSO READ:  Senate passes N54.9trn 2025 Appropriation Bill

”One such priority is the ongoing work of the House Committee on the Review of the Constitution.

”This committee has been diligently engaging stakeholders across the country and is expected to achieve substantial progress in the months ahead.

”Our goal remains clear. We aim to commence and complete the constitutional amendment process in good time with broad consensus and outcomes that reflect the will of the Nigerian people,” he added.

Abbas stressed the need for the house to move decisively to expedite the consideration and passage of critical bills that directly affected Nigerians’ stability, prosperity, and well-being.

He said that key among such bills was the much-anticipated electoral reform bill, which he said was fundamental to strengthening the country’s democratic processes.

He added that the house must also prioritise legislation in areas that impact the lives of all Nigerians including unemployment, poverty alleviation, fiscal reform, healthcare, education, and security. (NAN)

Continue Reading