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FAAC shares N675.946 billion November revenue to FG, States, LGAs

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The Federation Accounts Allocation Committee (FAAC) has shared a total of N675.946 Billion November 2021 Federation Account Revenue to the Federal Government, States and Local Government Councils.

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This was contained in a communiqué issued at the end of a virtual meeting of the Federation Account Allocation Committee (FAAC) for December 2021and which was sent to CAPITAL POST on Friday by the Director of Information, Press and Public Relations, Mr Henshaw Ogubike in the Office of the Accountant General of the Federation.

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The N675.946 billion total distributable revenue comprised distributable statutory revenue of N488.674 billion; distributable Value Added Tax (VAT) revenue of N182.678 billion, Exchange Gain of N4.156 billion and Excess Bank Charges Recovered of N0.438 billion.

In November 2021, the total deductions for cost of collection was N30.957 billion and the total deductions for statutory transfers, refunds and savings was N136.908 billion. The balance in the Excess Crude Account (ECA) was $35.365 million.

The communiqué confirmed that from the total distributable revenue of N675.946 billion; the Federal Government received N261.441billion, the State Governments received N210. 046 billion and the Local Government Councils received N155.456 billion. The sum of N49.003 billion was shared to the relevant States as 13% derivation revenue.

The distributable statutory revenue of N488.674billion was available for the month. From this, the Federal Government received N231.863 billion, the State Governments received N117.604 billion and the Local Government Councils received N90.668 billion. The sum of N48.540 billion was shared to the relevant States as 13% derivation revenue.

In the month of November 2021, the gross revenue available from the Value Added Tax (VAT) was N196.175 billion. This was higher than the N166.284 billion available in the month of October 2021 by N29.891billion.

The sum of N5.650 billion allocation to NEDC and N7.847 billion cost of collection were deducted from the N196.175 billion gross Value Added Tax (VAT) revenue, resulting in the distributable Value Added Tax (VAT) revenue of N182.678billion.

From the N182.678 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N27.402 billion, the State Governments received N91.339 billion and the Local Government Councils received N63.937 billion.

The Federal Government received N1.946 billion from the total Exchange Gain revenue of N4.156 billion. The State Governments received N0.986 billion, the Local Government Councils received N0.761 billion and N0.463 billion was shared to the relevant States as 13% derivation revenue.

The Federal Government received N0.231billion, the State Governments received N0.117billion and the Local Government Councils received N0.090 billion from the N0.438 billion Excess Bank Charges Recovered.

According to the Communiqué, in the month of November 2021, Petroleum Profit Tax (PPT), Oil and Gas Royalties, Companies Income Tax (CIT) and Value Added Tax (VAT), increased remarkably. Also, Import and Excise Duty increased marginally.

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Akpabio pays historic visit to office of SA to President on Senate Matters

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The President of the Senate, Senator Godswill Akpabio has commended Senator Basheer Lado, for redefining the Office of the Special Adviser to the President on Senate Matters, stating that, for the first time in a long while, the office is fully meeting its expectations.

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Speaking during his visit to the office of the Special Adviser to the President on Senate Matters accompanied by distinguished senators, Akpabio described the visit as a significant step in strengthening Executive-Legislative relations.

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He praised the Special Adviser and his team for maintaining the confidentiality of communications between the President and Senate, and also, ensuring a seamless flow of information. He further emphasized that the office is now more result-oriented.

Additionally, he acknowledged the office’s diligent efforts in tracking all Bills passed by the Senate and assented to by the President, underscoring its critical role in legislative efficiency.

Expressing his satisfaction, Akpabio noted that he and the Senate delegation were proud of the office’s achievements and looked forward to sustaining the existing cordial and productive relationship between the Executive and the Legislature throughout the administration.

In recognition of his exemplary leadership, Senator Lado presented an Award of Excellence to Senator Akpabio.

In his remarks, Senator Lado reaffirmed his commitment to fostering a harmonious working relationship between the Executive and the Legislature. He lauded Akpabio for his unwavering dedication to President Bola Ahmed Tinubu’s Renewed Hope Agenda—defending it with clarity, articulating it with passion, and advancing it through legislative action.

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Plateau LP stakeholders endorses Barr Gyang Zi’s defection to APC

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Ahead of the 2025 political party Congresses, Plateau State Chapter of the Labour Party (LP) stakeholders has endorsed the defection of the candidate of the party in the 2023 general elections and the leader of Justice and Rebirth, Barr Gyang Zi SAN, to the All Progressive Congress (APC) with the view to key into the Renewed Hope Agenda of President Bola Tinubu.

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They made the call in a communique issued at the end of the enlarge meeting of the stakeholders from Plateau North senatorial zone at the residence of Barr. Gyang Zi in Rayfield Jos.

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The communique which was jointly signed by Dr. Ayiki Sati Director General, Justice and Rebirth and
Barr. Samuel Galadima- 2024 Chairmanship candidate of Jos East LGA among others said the call became imperative on the sideline of the leadership tussle at the National Level which violates the core principles and values for the formation of the Party as an alternative for Nigeria for the protection, sustenance of democracy and Social Justice.

They regretted that the leadership tussle has also divided the party into factions leaving party loyalists and supporters in the state of despondency and confusion not knowing where they belong.

Our correspondent reports that the gathering included LP candidates from the 2023/2024 general elections, party executives, and support groups from the six local government areas of the Northern Senatorial District.

Besides, the focus of the discussions was centered on the state of the Labour Party at both national and state levels and the need for political realignment ahead of the 2025 party congresses and conventions.

The stakeholders further frowned at the structural weaknesses in LP and resolved to advise Barr Gyang Zi, to leave the party and join the APC while expressing confidence that the APC would provide him with a platform to advance good governance in the state .

The communique also emphasized the importance of political consultations, particularly with APC leaders at both state and national levels. It called for collaboration with Plateau State APC leaders, including Minister of Humanitarian Affairs Prof. Nentawe Yilwatda Goshwe, Sen. Simon Bako Lalong, Sen. Diket Plang, and other party officials.

According to the communique, supporters of Barr Gyang Zi also pledged to mobilize grassroots support for the APC, stating that their leader’s defection would strengthen the party in the state.

They urged the APC leadership to formally receive Gyang Zi and his supporters into the party, marking their official transition from the Labour Party.

Stakeholders also reiterated the need for inclusive governance, ensuring that youths, women, and less privileged individuals are sidelined in the democratic process and accordingly officially denounced their membership in the Labour Party, declaring their support for the APC.

They assured that all LP structures aligned with Gyang Zi would follow suit, shifting their loyalty to the ruling party in the state and at the National level.

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Kogi Governor, Ahmed Usman Ododo salutes Tinubu at 74

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Kogi State Governor, Ahmed Usman Ododo, has extended his heartfelt felicitation to President Bola Ahmed Tinubu, GCFR, on the occasion of his 73rd birthday.

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Governor Ododo in statement signed by his special adviser on media, Ismaila Isah described President Tinubu as a statesman whose leadership and dedication to national development continue to inspire hope and progress across Nigeria.

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He commended the President’s unwavering commitment to the Renewed Hope Agenda, which is driving economic reforms, strengthening national unity, and advancing the nation’s democratic values.

“On behalf of the government and people of Kogi State, I celebrate Mr President and our father on this special day. Your resilience, visionary leadership, and patriotism have laid a strong foundation for Nigeria’s growth. We deeply appreciate your tireless efforts in repositioning our country for sustainable development,” Governor Ododo stated.

He further reaffirmed his support for President Tinubu’s administration and prayed for continued wisdom, strength, and good health for the President as he leads Nigeria toward greater prosperity, sustainable development, peace and stability.

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