FG, states, LGs share N1.12trn December revenue.

FG, states, LGs share N1.12trn December revenue.

....FG got N383.872 billion.

....States got N396.693 billion.

....LGs got N288.928 billion.

....Oil producing states got N57.915 billion as 13% derivation.

The Federation Account Allocation Committee (FAAC) has shared a total sum of N1,127.408 trillion in December 2023 Federation Account Revenue with the Federal Government, States, and Local Government Councils.

This is contained in a communiqué issued by the FAAC at its January 2024 meeting, chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.

Bawa Mokwa, Director (Press and Public Relations) in the Office of the Accountant General of the Federation, said on Tuesday in a statement that the N1,127.408 billion total distributable revenue comprised distributable statutory revenue of N363.188 billion, distributable value-added tax (VAT) revenue of N458.622 billion, electronic money transfer levy (EMTL) revenue of N17.855 billion, and exchange difference revenue of N287.743 billion.

 

He pointed out that the balance in the Excess Crude Account (ECA) was $473,754.57.

According to the communiqué, total revenue of N1,674.230 billion was available in December 2023. Total deductions for the cost of collection were N62.254 billion; total transfers, interventions, and refunds were N484.568 billion.

Gross statutory revenue of N875.382 billion was received for December 2023. This was lower than the N882.560 billion received in November 2023 by N 7.178 billion.

The gross revenue available from the Value Added Tax (VAT) in December 2023 was N492.506 billion. This was higher than the N360.455 billion available in November 2023 by N132.051 billion.

The communiqué stated that from the N1,127.408 billion in total distributable revenue, the Federal Government received a total of N383.872 billion, the State Governments received N396.693 billion, and the Local Government Councils received N288.928 billion.

A total sum of N57.915 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.

From the N363.188 billion in distributable statutory revenue, the Federal Government received N173.729 billion, the State Governments received N88.118 billion, and the Local Government Councils received N67.935 billion. The sum of N33.406 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.

The Federal Government received N68.793 billion, the State Governments received N229.311 billion, and the Local Government Councils received N160.518 billion from the N458.622 billion distributable value-added tax (VAT) revenue.

The N17.855 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.678 billion, the State Governments received N8.928 billion, and the Local Government Councils received N6.249 billion.

The Federal Government received N138.672 billion from the N 287.743 billion exchange difference revenue. The state governments received N70.336 billion, and the local government councils received N54.226 billion. The sum of N24.509 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.

In December 2023, companies’ income tax (CIT), excise duty, petroleum profit tax (PPT), value-added tax (VAT), and electronic money transfer levy (EMTL) increased significantly, while oil and gas royalties decreased substantially. Import Duty and CET Levies decreased marginally.

Court adjourns Saraki’s suit against EFCC, ICPC, others.

Court adjourns Saraki’s suit against EFCC, ICPC, others.

A Federal High Court (FHC), Abuja, on Tuesday, adjourned two separate suits filed by former Senate President, Bukola Saraki, against the Economic and Financial Crimes Commission (EFCC) and others.

Justice Inyang Ekwo, in a short ruling, said the adjournment was to await the report of the Court of Appeal on application for stay of proceedings filed by the ex-lawmaker.

Upon resumed hearing, Saraki’s lawyer, Tunde Afe-Babalola, SAN, informed that he had a pending application for stay of proceedings filed on July 30, 2021..

He said all the parties had been served and that they were ready to proceed.

The judge then asked whether the motion for relisting had been taken.

“Yes, we filed a stay at the Court of Appeal,” he responded.

But the EFCC’s counsel, Christopher Mshelia, who said he was not sure if the commission had been served, said he was not ready for today’s hearing.

Ekenma Okafor, who appeared for Code of Conduct Bureau (CCB), said his client had not been served.

“I remember on one of the sittings, the counsel appearing for the applicant had given the court his word that he is withdrawing their appeal.

“We are surprised with this development,” Okafor said.

 Afe-Babalola, who said he was not aware of Okafor’s information, said the important thing was that the motion was pending.

“If you had filed a stay at the Court of Appeal, why did you also file a stay here?

“If I grant you stay here, have I not done their duty at the Court of Appeal?” the judge asked.

Justice Ekwo, therefore, said he would give Afe-Babalola a date to enable him to sort himself out at the Court of Appeal and report back.

The matter was then adjourned until April 18 for report of proceedings at the Court of Appeal.

The News Agency of Nigeria (NAN) reports that Justice Ekwo had, on Jan. 25, 2023, struck out the suits for lack of diligent prosecution.

After the suits were struck out, Saraki file an application to relist the cases.

The motion on notice seeking an order of re-listing the suits was dated Feb. 1, 2023 and filed Feb. 3, 2023 by Sunday Onubi from Afe Babalola & Co Law Firm.

It was reported that Saraki, the applicant, had filed the suits marked: FHC/ABJ/CS/507/2019 and FHC/ABJ/CS/508/2019 at the FHC.

In the suits, the Attorney-General of the Federation (AGF), Inspector-General (I-G) of Police and State Security Service (SSS) are 1st to 3rd defendants.

Others are EFCC, Independent Corrupt Practices and Other Related Offences Commission (ICPC) and CCB as 4th to 6th respondents respectively.

The ex-senate president had filed the suits following the EFCC’s decision in 2019 to probe Saraki’s earnings between 2003 and 2011 when he was governor of Kwara.

The anti-graft commission was reported to have seized some of his houses in the Ikoyi area of Lagos then.

However, Saraki, on May 10, 2019, filed the two separate suits before retired Justice Taiwo Taiwo to challenge the action of the EFCC.

Justice Taiwo, who was the presiding judge then, ruled on an ex-parte application filed along with the substantive suits.

The judge ordered the anti-corruption agency (4th respondent) and the other five respondents to the suits to stay action on the probe pending the hearing and determination of the motion on notice filed by the applicant.

The order was granted after Sunday Onubi, Saraki’s lawyer, moved the application, on May 14, 2019.

The court had directed the parties to maintain the status quo by suspending the probe.

But the EFCC later applied that the judge should recuse himself and the matter be transferred to another court.

Justice Taiwo sent back the case file to the chief judge and the matter was reassigned to Justice Anwuli Chikere for adjudication.

When the matter came up on July 14, 2021 before Justice Chikere, EFCC Counsel, Chile Okoronkwo, complained that Taiwo’s order had hindered the agency “from performing its duty for about two years now.”

The lawyer, who stated that Saraki continued to hinge on the order of the court any time he is invited, urged the court to vacate the order.

But the suits were reassigned to Justice Ekwo following the retirement of Chikere.(NAN)

Kidnapping: Wike pledges positive news within days.

Kidnapping: Wike pledges positive news within days.

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says residents of the territory will get positive news within days with regards to efforts being made to tackle insecurity in the FCT.

“I can assure you that in a matter of days, you will be hearing positive stories,” Wike told a townhall meeting in Kwali on Tuesday.

“We are ready to support our security agencies with whatever they need to ensure that our people can sleep with their two eyes closed.

“We are going to provide the councils with motorcycles to support the vigilante groups so that they can get information and assist our security agencies,” he added.

The minister directed chairmen of the six areas councils in the territory to strengthen and motivate local vigilante groups as part of measures to reinforce community policing.

Wike also asked the councils to procure more motorcycles for the vigilante groups, to enable them navigate difficult terrains while supporting security agencies.

He said that the FCT Administration would soon conclude the procurement processes for more operational vehicles to support security agencies in the discharge of their responsibilities.

“For me, whatever that is going to bring development or improve security, the government has no hesitation in doing it,” he said, adding that residents should support the security agencies with actionable information to address any security threat.

“We need information from you because without information, the security agencies would have little or nothing to do; if you give them information on time, they will make sure that bad things don’t happen,” Wike said.

On infrastructure, the minister promised to construct two roads in each of the six area councils, in addition to the ones being constructed.

The minister said that henceforth the FCT annual budget would rely on inputs from the people.

“Every year, before submitting any budget proposal to the National Assembly, I will meet with traditional rulers and the people to get their inputs.

“This is by way of getting them to recommend people-oriented projects that can be incorporated into the budget; we will not abandon you. We will make sure we develop the area councils.

“Before the end of the tenure of President Tinubu, you will see a lot of infrastructure going on in the area councils.”

Earlier, Kwali Area Council Chairman, Mr Danladi Chiya, appealed for the establishment of a police divisional office and military base in some parts of the area council.

Chiya also complained of bad roads, which according to him, have contributed to the rising insecurity in the area.

“The roads are not motorable, come to our aid to help put the roads in good shape. That will help reduce the incidences of kidnapping.

“We also require further military presence. We need more police stations especially in Gwako which has become a haven for these bad elements.

“We also need motorcycles for the vigilante groups. I have given them some, but we need more,” he said. (NAN) 

Oyebanji Receives NAFEST 2023 Honours Award for Outstanding Contributions to Arts and Culture.

Oyebanji Receives NAFEST 2023 Honours Award for Outstanding Contributions to Arts and Culture.

By Olamide Akinwumi J. 

In recognition of his exceptional contributions to the promotion of Arts and Culture, Governor Biodun Oyebanji of Ekiti State was honored with the prestigious NAFEST 2023 Honours Award by the National Council for Arts and Culture. The accolade was bestowed on Governor Oyebanji for his instrumental role in ensuring Ekiti hosted the most successful National Festival of Arts and Culture (NAFEST) in history in 2021 during his tenure as the Secretary to the State Government. Additionally, he was lauded for ensuring Ekiti's active participation in the 2022 edition held in Lagos, despite being relatively new in office as Governor at the time.

The NAFEST Honours Award, considered the highest recognition by the Council, was formally presented to Governor Oyebanji by the state Commissioner for Arts and Culture, Prof. Rasaki Ojo-Bakare. The ceremony took place at the Governor’s Office in Ado-Ekiti on Tuesday, January 23rd, 2024.

Arts, Culture, and Tourism stand as significant pillars in the BAO administration's Six-Pillar Development Agenda, emphasizing the administration's commitment to the holistic development and promotion of the state's cultural heritage. Governor Oyebanji expressed gratitude for the prestigious recognition and reiterated the administration's dedication to further advancing arts and culture initiatives for the prosperity of Ekiti State.

Gov Oyebanji Explores Collaborative Ventures with NIPC.

Gov Oyebanji Explores Collaborative Ventures with NIPC.

By Olamide Akinwumi J. 

Governor Biodun Oyebanji engaged in a strategic meeting on Tuesday, January 23, 2024, with the Executive Secretary/CEO of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi, and her team.

The meeting, held at the conference room of the Governor’s office in Ado-Ekiti, focused on delineating areas of collaboration between the state government and NIPC, an organization dedicated to promoting investments in the country.

Significantly, Governor Oyebanji took a prominent role in leading the discussions during all strategy sessions between the NIPC and the State Government team. The meeting underscored the commitment of Ekiti State to fostering economic growth through strategic partnerships, tapping into the expertise of NIPC to attract and facilitate investments within the region.

Oyebanji inaugurates Board for state’s investment company, agency.

Oyebanji inaugurates Board for state’s investment company, agency.

Ekiti State Governor, Mr. Biodun Oyebanji on Monday inaugurated Board for Fountain Holding Limited and Ekiti Development and Investment Promotion Agency with a charge to revitalized and reposition the agencies to become major players in Nigeria investment ecosystem.

Speaking while performing the inauguration on Monday at the Exco Chamber of the Governor"s Office, Ado Ekiti, the Governor tasked the new board members on initiatives that would transform the agencies into robust contributors to the state’s economic growth.

He said his administration’s goal is to establish the state as a competitive force in the country by attracting both public and private enterprises.

Governor oyebanji, who explained that his dream is to see the Fountain Holdings become a major player in the country’s investment ecosystem, said the board should diversify the current portfolio of companies under its managements to explore new vista of greener investment pasture across sectors.

Stressing  that the agencies are critical to his administration’s job and wealth creation mandate, the Governor maintained that more opportunities the state seek could only come from increased business operation that would further assist his administration to be able to meet the overall development plans of the state.

Oyebanji therefore charged the new chairmen and board members  “to do everything possible to ensure Fountain Holdings becomes a fat cow from which the state can milk profitably through taxable income for the prosperity of our dear state”.

He said his expectation is to see Agencies expand their current portfolio and use it as weapon of socioeconomic empowerment in line with the local content agenda of his administration. 

The Governor added that the agencies should invest and promote businesses that can solve housing, capital, credit access, technological, infrastructural, and knowledge needs of Ekiti people.

“My ultimate dream is to see the Holdings become a major player, not only in the Ekiti business arena, but in the Nigeria’s investment ecosystem. There are enormous opportunities for the Holdings to delve into, to diversify the current portfolio of companies under its managements, and to explore new vista of greener investment pastures across sectors.

“I therefore want to charge the new Chairman, Mr. Jide Ogundare and the entire team to do everything possible to ensure Fountain Holdings become a fat cow from which the State can milk profitable and taxable income for the prosperity of our State.

“The Holdings should also key into our job creation vision, which is a major way of engendering inclusive growth and development. " The Governor stated.

Responding on behalf of the board members, the Chairman, Fountain Holdings Limited, Mr. Jide Ogundare, who expressed his gratitude to the Governor for the trust placed in them, assured the Governor that the new board members will implement strategic measures that would attract both local and foreign investment to Ekiti State.

He pledged that the boards will work diligently to promote investment opportunities and improve investment climate in the state through efficient service delivery in alignment with the vision of the Oyebanji led-administration.

Aiyedatiwa Meets APC Stakeholders, Preaches Unity Ahead Of Governorship Election.

Aiyedatiwa Meets APC Stakeholders, Preaches Unity Ahead Of Governorship Election.

Ondo State Governor, Hon. Lucky Aiyedatiwa, on Monday held an interactive session with stakeholders of the All Progressives Congress (APC) from across the 18 local government areas of the State, urging them to embrace peace and unity ahead of the coming governorship election in the State.

It was the first of such meeting since the Governor was inaugurated and he used the opportunity to thank the party leaders for their support, stressing the need for all contending forces within the party to come together to move the party and the State forward.

The Governor said: “It is important for me to tell you that as leaders of our party, we must put behind us the events of the last few months and come together as one big family for the progress of the APC and the development of our dear State. 

“To me, what happened in the past was just politics. It was not a fight; it was not a battle; it was mere politics and I can say that I did not take any offence from that. The most important thing for us is to remain as one big family. There should be no division in our party.

“There is the need to make our party stronger and that necessitated the idea of this enlarged stakeholders meeting to bring everybody on board. Our party leaders and members are critical stakeholders that we cannot afford to neglect.

“There have been complaints from many of our party officers at local levels of not being carried along in the scheme of things. That must now be a thing of the past. All our party officers from ward to local government to State levels will be given the recognition they deserve.” 

The Governor said he will liaise with the leadership of the party to ensure the smooth running of the party structure, regular stakeholders’ engagement and the operations of the Leaders’ Caucus and the Governor’s Advisory Council. 

Speaking on the forthcoming governorship election in the State, the Governor urged the party leaders to ensure peaceful conduct of aspirants and their followers, adding that there must be a rancorous-free primary election and peaceful governorship election in the State.

The Governor, who paid glowing tributes to former Governor, Late Arakunrin Oluwarotimi Akeredolu, promised that the state government will work with the family to give him a befitting state burial and to immortalize his name and legacies.

The Governor thanked President Bola Ahmed Tinubu for showing keen interest in the peace and development of Ondo State, adding that the president is happy with the current tranquility being enjoyed in the State.

Speaking earlier, the State Chairman of the APC, Engr. Ade Adetimehin, who commended the Governor for the timely engagement of party stakeholders, stressed that party leaders must put the past behind to foster unity ahead of the coming governorship election.

Those present at the meeting included members of the State House of Assembly, led by the Speaker, Rt. Hon. Olamide Oladiji, members of the State Executive Council, led by the Secretary to the State Government, Princess Oladuni Odu, former Deputy Governors, Alhaji Ali Olanusi and Alhaji Lasisi Oluboyo, former State Chairman of the party, Ambassador Sola Iji, former SSG, Hon. Sunday Abegunde, member of the House of Representatives, Hon. Biola Makinde, Chief Segun Ojo, Chief Jamiu Ekungba, Mrs. Jumoke Anifowoshe, among many others.