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Nigeria Newspapers

FAAC allocation to FG, States, LGAs dips by N68.055bn in 1 month

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From Uche Usim, Abuja

The monthly subvention from the Federation Accounts Allocation Committee (FAAC) to the three tiers of government slumped by N68.055 billion between September and October.

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While the  federal government, 36 states and the Federal Capital Territory (FCT) and the 774 Local Governments Areas shared N671.910  billion in October, the September figure was N739.965 billion. Reasons for the huge disparity could be traced to a sharp dip in crude oil production in October, which fell to 1.35 million barrels per day as against 1.40 million bpd output recorded in September. Nigeria is currently battling insufficient funds as it needs to immediately reopen some oil fields forcefully shut down by COVID-19 last year. The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari has assured that crude oil production will hit 1.8mpd by year end and would swell the government’s purse.

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According to Mr Henshaw Ogubike, Director, Information, Press and Public Relations, Office of the Accountant General of the Federation, the FAAC meeting for November was held in Lagos State.

He noted that the N671.910 billion total distributable revenue comprised distributable statutory revenue of N363.849 billion, distributable Value Added Tax (VAT) revenue of N154.844 billion, exchange gain of N3.217 billion and N150 billion augmentation from the non-mineral revenue.

In October 2021, N24.591 billion was the total deduction for cost of collection and N30.864 billion was total deduction for  statutory transfers, savings and refunds. The balance in the Excess Crude Account (ECA) was $60.860 million.

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Ogubike confirmed that from the total distributable revenue of N671.910 billion, the Federal Government received N284.292 billion, the State Governments received N209.838 billion, and the Local Government Councils received N156.282  billion. The sum of N21.498 billion was shared to the relevant States as 13% derivation revenue.

“The distributable statutory revenue of N363.849 billion was available for the month. From this amount, the Federal Government received N180.551 billion, the State Governments received N91.578 billion and the Local Government Councils received N70.603 billion. The sum of N21.118 billion was shared to the relevant States as 13% derivation revenue.

“In October 2021, the gross revenue available from the Value Added Tax (VAT) was N166.284 billion. This was lower than the N170.850 billion available in the month of September 2021 by N4.566 billion.

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“N4.789 billion was allocated to the North East Development Commission (NEDC) and N6.651 billion cost of revenue collection were deducted from the N166.284 billion gross Value Added Tax (VAT) revenue, resulting in the distributable Value Added Tax (VAT) revenue of N154.844 billion.

“From the N154.844 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N23.227 billion, the State Governments received N77.422 billion and the Local Government Councils received N54.195 billion. The Federal Government received N1.495 billion from the total Exchange Gain revenue of N3.217 billion. The State Governments received N0.758 billion, the Local Government Councils received N0.584 billion and N0.380 billion was shared to the relevant States as 13% derivation revenue.

“The Federal Government received N79.020 billion, the State Governments received N40.080 billion and the Local Government Councils received N30.900 billion from the N150 billion augmentation from the non-oil mineral revenue”, he explained.

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According to him, in the month of October 2021, Petroleum Profit Tax (PPT), oil and gas royalties and Companies Income Tax (CIT) decreased considerably. There was a slight decline in Value Added Tax (VAT) while import Duty and excise duty increased marginally.

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Nigeria Newspapers

Police declare SS3 student wanted for beating teacher to death in Delta

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Delta State Police Command has declared wanted one Michael Ogbeife, an SS3 student of Erhimu Secondary School, Abraka in the State, for beating a teacher of the school, Joseph Ossai, to death.

Michael is said to be on the run after perpetrating the illicit act on Thursday.

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PUNCH Metro gathered that Michael had on that fateful day engaged the teacher in a scuffle that resulted in the teacher giving up the ghost during the fight.

The deceased teacher, who was said to be in charge of Agricultural Science and Biology in the school until his demise, had reportedly flogged Michael’s younger sister, Promise Ogbeife who was involved in a dispute with her classmate.

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It was gathered that Michael got infuriated by the teacher’s decision to flog his sister and the enraged SS3 student resorted to a fight with the teacher.

Sources said that Michael angrily left the school’s premises after his sister was flogged, and later returned back, heading straight to the staff room for a showdown with the teacher.

Some of our sources alleged that Michael had initially rushed home to get a charm before engaging the teacher in the fight.

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It was gathered that the teacher collapsed after some punches from the student which left the teacher with a bleeding nose just as blood was also gushing out from his mouth.

Consequently, the teacher was rushed to a private hospital in the community, from where he was referred to the government hospital where he was confirmed dead on arrival.

Reacting to the gory incident, the proprietor of the school, Mr Erhimu, told journalists that he was awaiting full details of the matter, as he was not around when the incident happened.

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The visibly worried proprietor has however directed that the school be shut till Monday noting that he had been to the police station over the matter.

Confirming the incident, the police public relations officer for Delta State Command, DSP Bright Edafe, told newsmen that the suspect is on the run.

“The suspect is nowhere to be found for now, but his sister is in protective custody”, the PPRO said just as he insisted that efforts are being intensified to arrest the fleeing suspect.

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Nigeria Newspapers

Your mother lived a fulfilled life, Oshiomhole consoles Igbinedion

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The immediate past National Chairman of the All Progressives Congress and former governor of Edo State, Mr Adams Oshiomhole, has expressed shock at the death of Madam Maria Igbinedion, mother of his predecessor, Mr Lucky Igbinedion.

In a statement released to the press by his media aide, Victor Oshioke, Oshiomhole consoled Igbinedion to be comforted with the fact that the late matriarch who died lately at the age of 85 years old lived a fulfilled life.

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The former APC chair said, “Mama was known to be a very peaceful and empathic person who sympathized with those that suffered misfortune, gave encouragement to those in despair and shared whatever she had with those in need within her community.

“It is pertinent therefore that at this very traumatic period for your family, we also share in your pain.

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“As mortals, it is difficult to come to terms with the loss of such a kind-hearted, deeply pious and beneficent matriarch, who in spite of her age, was still full of life and a veritable bastion of support for her children and the entire community.

“Your mother may not have lived till the fullness of our desires for her life, yet she lived a fulfilled life of service to humanity through her numerous community engagements, nurtured her children to greatness and had a good relationship with God.

“On behalf of my family, I offer our sincere condolences at this most challenging time while praying that mama finds eternal rest in heaven.

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“Also I pray that God sends forth His grace upon you, your siblings, your father and extended family that she left behind. Be assured that we have you in our prayers and share in your grief at this most difficult time.”

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