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BREAKING; FAAC: Federal Govt, States, LGs share N1.424 trn December 2024 revenue

 

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 according to 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.

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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.

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“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.

“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.

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“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.

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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)

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Tinubu decided not to make me Minister – El-Rufai reveals private discussion with the President

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Tinubu decided not to make me Minister – El-Rufai reveals private discussion with the President

A former governor of Kaduna State, Mallam El-Rufai, has claimed that President Bola Tinubu did not want him in his cabinet.

According to him, the National Assembly did not reject him because of a security report from the Department of State Services, DSS.

Speaking on Arise TV on Monday night, El-Rufai said, “Forget what you read. The National Assembly did not reject me. President Bola Tinubu changed his mind about working with me.

“The security thing was a good excuse they used.

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“Since then, has anyone released that report telling us the security issue?

“Look, I was minister 20 years ago. I don’t need to be in politics. I have a private life.

“Tinubu appealed to me and begged me. He threw me a challenge that no president has sorted out electricity problems. He said you and I can do it. it was the challenge that made me accept it.

“I had the opportunity to serve my country. The person that gave me took it back and that is not a problem.”

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Housing Minister threatens to decamp from APC over Leadership issue

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Housing Minister threatens to decamp from APC over Leadership issue

The Minister of Housing and Urban Development, Yusuf Abdullahi Ata, says he will resign if the current APC state chairman, Abdullahi Abbas, is re-elected.

Ata made this statement at a press conference in Kano on Monday. He reaffirmed his position, stating he would resign from both his ministerial role and the party.

He said, “This is my position to this day. We oppose the reinstatement of the current APC leadership in Kano, given what happened in the last election.

“We will not accept this situation again. If the leadership remains, I will resign from my ministerial post and leave APC.

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Ata emphasised his strong moral values and respect for elders, noting, “We will not compromise our values.”

He expressed concerns over the party leadership’s statements, which he believed contributed to the party’s failure in 2023.

“We must engage individuals of integrity to gain the trust of Kano citizens,” Ata stressed.

He said, “Votes and money do not grant power; only God bestows authority.”

Ata urged politicians from all parties to promote peace, respect each other, and follow the rules. (NAN)

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Tinubu seeks security agencies’ synergy for effective crime-fighting at Senior Police Officers’ Conference

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Tinubu seeks security agencies’ synergy for effective crime-fighting at Senior Police Officers’ Conference

President Bola Tinubu has sought more synergy among security agencies in the country to combat crimes more effectively.

Tinubu, represented by Vice President Kashim Shettima, said this at the opening ceremony of the 2025 Conference and Retreat for Senior Police Officers, held in Abeokuta on Monday.

The News Agency of Nigeria (NAN) reports the programme is themed “Improving Nigeria’s Internal Security and Economic Prosperity Through Inclusive Policing”.

The president noted that synergy among all security agencies remained vital to eliminating banditry, kidnapping, armed robbery, and other forms of criminality.

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He stated that internal security was fundamental to creating an environment where businesses and investment flourish.

He added that his administration had prioritised security agencies under operational capability, ensuring they were well-equipped to confront emergencies and effectively combat crime.

The president stressed that the conference’s theme aligned seamlessly with his administration’s core objectives.

“We are committed to fostering economic growth by leveraging the vast potentials of our human and natural resources.

“However, this vision is unattainable without a stable internal security landscape from states under collaboration.

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“I reaffirmed our administration’s commitment to enhancing the institutional capacity of the Nigeria Police Force (NPF), ensuring it is more effective and well-positioned to fulfill its constitutional mandates,” he said.

Tinubu noted that the present administration was working to bridge existing security infrastructure and equipment gaps through comprehensive and sustainable programmes.

“The programmes include renovating police barracks, including mobility and upgrading essential combats and protective gears.

“These ongoing efforts, complemented by efforts of state governments, will certainly inspire confidence and reposition the Nigeria Police Force,” he said.

The president mentioned the implementation of the new minimum wage among many others as steps taken to enhance the welfare of Nigerian workers, including police personnel.

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“We will continue to collaborate with police leadership to provide financial incentives to motivate officers and all security personnel to perform at their highest level,” he said.

Tinubu explained that his administration remained committed to supporting NPF in meeting up with its crucial role of keeping Nigeria safe and united.

In his remarks, the Inspector-General of Police (I-G), Kayode Egbetokun, noted the gathering served as a crucial platform for assessing the police administrative and operational strategies.

Egbetokun explained that it was also an avenue to exchange insights and realign policing objectives with the nation’s evolving global security landscape.

“Building on the successes of previous conferences, we have undertaken major reforms in investigative procedures, prioritising forensic analysis, digital case management, and improved judicial collaboration.

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“The reorganisation of the Force Criminal Investigation Department (FCID) and other specialised units has been a priority, ensuring that our detectives operate in line with globally accepted best practices.

“Moving forward, all commands and formations have been mandated to implement a comprehensive action plan aimed at reducing crime rates by 50 per cent in 2025,” he said.

Gov. Dapo Abiodun of Ogun commended the leadership of NPF for its commitment to protecting the lives and property of Nigerians.

Abiodun reaffirmed that his administration would continue to assist all security agencies in safeguarding a peaceful state. (NAN)

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