FAAC: FG, states, LGs share N467.8bn for July

A total of N467.852 billion has been distributed as Federal Allocation for the month of July, 2017 to the Federal Government, State Governments and Local Government Councils.

This represented a shortfall of about N185 billion compared to the N652.229 billion shared last month.

Permanent Secretary, Ministry of Finance, Alhaji Mahmoud Isa-Dutse, said the gross statutory revenue of N387.319 billion received for the month was lower than the N570.584 billion received in the previous month by N183.266 billion.

He disclosed the distributable statutory revenue for the month is N387.852 billion while VAT collected for distribution stood at N80.533 billion.

The FG got N193.0448 billion, states N130.691 billion and the LGs N98.014 billion, according to a breakdown, which also showed that oil producing states got N31.591 billion.

Isa-Dutse said the increase in the average price of crude oil from $50.27 to $51.05 per barrel and a significant price increase in spot volume by 1.2 million barrels, resulted in increased revenue from export sales for the federation by $62 million.

The Federal Inland Revenue Service, FIRS, got N14.508 billion as cost of collection, while balance in excess crude account stood at $2.3 billion.

Comments

Shocking !!! Man attempts to use father,siblings and friends for rituals

A 26-year-old man, identified as Chukwuemeka Okafor, has been arrested by the Police in Anambra for allegedly attempting to use his father, two siblings and five friends for money ritual. The suspect, who is an indigene of Ifite-Awka in Awka South Local Government Area of Anambra, was arrested following information made available to the police by a vigilant resident of the community. The Commissioner of Police in the state, Garba Umar, who briefed journalists in Amawbia on Thursday on the arrest of the suspect, said the father had innocently provided N100,000 to his son unknown to him that the son had a devilish intention. Mr. Umar said that the suspect lied to his father about a business which made him to raise the money for him believing that it was for a genuine venture. He further said that after collecting the money, the suspect proceeded to the house of a native doctor to prepare a charm that would enable him to eliminate his father, two siblings and five of his friends...

NBC Warns Broadcast Stations against Hate Speech

Director General of the National Broadcasting Commission (NBC), Mr. Ishaq Modibbo Kawu, Ahead of the forthcoming elections, the National Broadcasting Commission (NBC) has said it will impose heavy sanctions on broadcast stations which promote hate speeches. The Director General of the commission, Mr Is’haq Kawu, said this thursday in Enugu at the inauguration of Family Love FM 99.9 at the European Quarters in Ngwo. Kawu was represented at the event by a director in the commission, Mr Armstrong Idachaba. He said the commission had taken note of hate speeches from some parts of the country, adding that it would guard against its infiltration in the broadcast industry. “We are already seeing signs of hate speeches among Nigerians and would not tolerate it in the broadcast industry as we prepare for the 2019 elections. “Our broadcast stations should rather be used to engender tolerance, mutual respect as well as promote unity among Nigerians,” he said. Kawu said the broadc...

Fayose Begs Buhari to Resign, Calls Him Sick and tired

President Muhammadu Buhari has been urged to throw in the towel as his illness has made it impossible for him to lead the country. Ekiti State Governor, Ayodele Fayose, has begged President Muhammadu Buhari to resign and go home for a good rest. The Governor said he still stands by all he said about President Buhari on his ill health and has no apologies. Speaking on Wednesday in Ado Ekiti, the Chairman of the Peoples Democratic Party’s Governors Forum advised the president to stop deceiving Nigerians as the truth cannot be hidden forever. He said, “If not for our efforts, Buhari wouldn’t have returned now. Buhari is sick and tired and even his physical appearance betrayed this and he needs to go home and rest. “Today, they have cancelled the Federal Executive Council meeting. You cannot hide the truth forever, it will reveal itself someday. You cannot continue to deceive Nigerians. “Every word that has come out of my mouth, I have no apology for them. Presid...

GOLDEN SCEPTRE

Search This Blog