The Federation Account Allocation Committee says it shared N907.05bn among the three tiers of government for June 2023.
The figure represents a marginal increase of N120.89bn compared to the N786.16bn shared for May 2023, and it is the highest this year and the second increase following a constant decline since January.
FAAC disclosed this in a communiqué issued at the end of its latest meeting in Abuja on Thursday.
The meeting was chaired by the new Accountant General of the Federation, Dr Oluwatoyin Madein.
The PUNCH observed, however, that the increase recorded for May was higher than that of June despite the fuel subsidy removal.
The total amount includes gross statutory revenue, Value Added Tax, and electronic money transfer levies and exchange rate difference revenue.
The communique read, “The N907.05bn total distributable revenue comprised distributable statutory revenue of N301.50bn, distributable Value Added Tax revenue of N273.23bn, Electronic Money Transfer Levy revenue of N11.44bn and Exchange Difference revenue of N320.89bn.”
The Federal Government received N345.56bn, the states received N295.95bn, and the local government councils got N218.06bn, while the oil-producing states received N47.48bn as derivation (13 per cent of mineral revenue).
It was also disclosed that a gross statutory revenue of N1.15tn was received for the month of June 2023, which was higher than the sum of N701.79bn received in the previous month by N451.13bn.
The communique added, “From the N301.50bn distributable statutory revenue, the Federal Government received N146.71bn, the State Governments received N74.41bn and the Local Government Councils received N57.37bn. The sum of N23.01bn was shared to the relevant States as 13 per cent derivation revenue.
“For the month of June 2023, the gross revenue available from the Value Added Tax was N293.41bn. This was higher than the N270.2bn available in the month of May 2023 by N23.21bn. The Federal Government received N40.98bn, the State Governments received N136.61bn and the Local Government Councils received N95.63bn from the N273.23bn distributable Value Added Tax revenue.
‘The N11.44Bn Electronic Money Transfer Levy was shared as follows: the Federal Government received N1.72bn, the State Governments received N5.72bn and the Local Government Councils received N4bn.
“From the N320.89bn Exchange Difference revenue, the Federal Government received N156.16bn, the State Governments received N79.20bn, the Local Government Councils received N61.06bn and the sum of N24.47bn was shared to the relevant States as 13 per cent mineral revenue.”
It was further disclosed that in June 2023, the total deductions for cost of collection was N73.24bn and total deductions for savings, transfers and refunds was N979.08bn.
“The balance in the Excess Crude Account was $473,754.57,” it added.
According to the communiqué, in June 2023, Companies Income Tax recorded tremendous increase. Import and Excise Duties, Value Added Tax, Oil and Gas Royalties increased significantly, while Petroleum Profit Tax and Electronic Money Transfer Levy decreased considerably.
In a separate statement from the state house on Thursday, Special Adviser to the President, Special Duties, Communications & Strategy, Dele Alake, it was noted that President Bola Tinubu has approved the establishment of Infrastructure Support Fund for the 36 States of the Federation as part of measures to cushion the effects of the petrol subsidy removal on the people.
The statement added, ”The new Infrastructure Fund will enable the States to intervene and invest in the critical areas of Transportation, including farm to market road improvements; Agriculture, encompassing livestock and ranching solutions; Health, with a focus on basic healthcare; Education, especially basic education; Power and Water Resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians.
“The committee also resolved to save a portion of the monthly distributable proceeds to minimize the impact of the increased revenues-occasioned by the subsidy removal and exchange rate unification-on money supply, as well as inflation and the exchange rate.”
The statement also disclosed that about N790bn would be saved to “complement the efforts of the Infrastructure Support Fund (ISF) and other existing and planned fiscal measures, all aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians.”
The Chinese Consul-General, Lagos, Yan Yuqing, has reiterated the commitment of the People’s Republic of China towards assisting Nigerian government to develop its education sector.
The Chinese Consul-General disclosed this during the commissioning of renovated China-Nigeria Friendship Model Primary School, Igbesa in Ado-Odo/Ota Local Government Area of Ogun State.
Yuqing said China is quite convinced that education is the foundation of national development and a weapon to fight poverty.
He said China is always willing to partner with her host country to make meaningful investment in the critical sector
The projects sponsored by the Chinese Consulate and Ogun-Guangdong Free Trade Zone included a block of classrooms, cafeteria, as well as donation of educational materials to the pupils of the school.
Yuqing said, “Chinese admire that education is the foundation of national development in the long run and strong weapon to fight poverty. All modern countries in the world do not fail to attach importance to education. As the largest developing country in the world, China has made remarkable achievements in all aspects of social development.
“These achievements are inseparable from our unswerving implementation of the strategy of invigorating China through science and education. And we always place education in a strategic position of priority development. We will continue to support Nigeria’s education system in all areas”.
She added, “Eleven years ago, the construction of this school began. Since then, this school has become a bridge of friendship and understanding between Nigeria and China and it has witnessed sincere friendship from China.
“Today, you can see here, the classrooms are more spacious, the campus is more beautiful, and the facilities are more complete. I hope that all the children will study harder in these improved classrooms and strive towards achieving their goals as soon as possible”.
While advising the pupils, the Consul-General said, “Children education is related to the future of a country; now you are the future of Nigeria. Work hard and fight for a better tomorrow for the prosperity of Nigeria.”
The Deputy-General, China-Africa Investment, Kevin Liu, said the China-Nigeria Model School stands for knowledge, cultural exchange, and mutual understanding, saying, “These values promote global peace and cooperation and we are committed to maintaining this standard for generations to come”.
Governor Dapo Abiodun, who was represented by a Commissioner-designate,Mr. Sesan Fagbayi, disclosed that the project would no doubt further foster smooth bilateral relationship with the Chinese government.
Abiodun has however appealed to the residents of Igbesa to continue to cooperate with the Chinese investors for peace and friendly environment in order for their businesses to thrive.
The Oloja-Ekun of Igbesaland, Oba Oluwatoyin Akinde, represented by Otunba Ade Durojaiye, lauded the Chinese Consulate and Ogun-Guangdong Free Trade Zone for the project pleading for more support in developing the town.
AS the ultimatum by the Nigeria Labour Congress, NLC, to the Federal Government to address the mass suffering and pains occasioned by the removal of subsidy on petrol expires today, the leadership of the Congress will meet next week to decide when to begin an indefinite nationwide strike.
But Vanguard gathered that the Vice President, Senator Kashim Shettima, has been meeting with some members of the government team on how to avert the strike.
It was also gathered that the Minister of Finance, Wale Edun, and the Minister of Labour and Employment, Simon Lalong, alongside the Vice President, are putting together a package, including wage awards, to be presented to the NLC leadership.
It will be recalled that NLC had between Tuesday, September 5 and Wednesday 6 embarked on a two-day nationwide warning strike to protest, among others, perceived government insensitivity to plights and sufferings of Nigerians, especially workers, following the subsidy removal.
Ahead of the warning strike, the National Executive Council, NEC, of NLC had issued within 14 working days or 21 days from September 1, 2023, an ultimatum for the government to address the excruciating mass suffering and the impoverishment experienced around the country, threatening an indefinite strike if government failed to address its demands.
As the 21-day ultimatum expires today, Vanguard learned that critical organs of NLC will be meeting next week to decide on the indefinite strike and modalities if nothing concrete was done to lessen the suffering and hardship of Nigerians.
A source said: “The issue is conventional, when an ultimatum expires, you call your organs and the organs will decide when to commence the strike. If we ever decide to say we would take one day or few days or one week to prepare for it, that would be their position.”
Pressed to be more categorical on whether the strike would commence immediately, one of the sources privy to the NLC meetings simply said “Nothing is impossible.”
‘Meeting to hold on a date for the strike to begin’
Another source told Vanguard that the “last NEC held on September 1, 2023, has actually given the leadership of NLC, especially members of the National Administrative Council, NAC, the go-ahead to meet, fix a date for the commencement of the indefinite strike and communicate to the state councils and industrial union affiliates.
“I can tell you that the leadership will meet next week and fix a date for the strike. However, if NAC members are convinced that the government has addressed our demands to an appreciable level, in such a case, the leadership will still call the organs to brief them of the development.”
‘Govt team working to avert strike’
The source, however, said available information revealed that the government team is working seriously to avert another round of industrial unrest by NLC.
He said further that both the minister of finance, and the vice president, who is standing in for the President who is attending the United Nations General Assembly, UNGA, Summit in New York were considering some figures.
“So they know the seriousness of the planned action and some of them are speaking out boldly that they are not afraid because of the package they have for workers.
“Available information is that the government will soon announce what it has. They are really making efforts and again the President is not in the country.
“What we don’t know is whether what they have will be enough for NLC to consider or not. In the past two to three days, the vice president has been meeting with some of the government team to come up with something. “
The source made it clear that the NLC leadership had said it would not be part of any meeting if there were no tangible packages for workers.
Attempt to get a reaction from the Presidency did not yield any results as the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, is out of the country.
The presidential spokesman is with the President in New York for the UNGA summit.
Recall that while briefing last Friday, after its NEC’s meeting, NLC President, Joe Ajaero, said: “NEC-in-session of NLC resolved to embark on a total and indefinite shutdown of the nation within 14 working days or 21 days from today until steps are taken by the government to address the excruciating mass suffering and the impoverishment experienced around the country.
“To commence a two-day warning strike on Tuesday and Wednesday, 5th and 6th September 2023 to demonstrate our readiness for the indefinite strike later in the month and to also demand that the state vacates the illegally occupied national headquarters of the National Union of Road Transport Workers. “
The NLC also resolved to embark on a mass protest and rally in Imo State within September, and equally raised the alarm over what it described as a renewed onslaught by the government and its agents on labour unions.
Ajaero explained that the proposed strike was necessitated by the government’s deliberate neglect and disregard to engage the relevant stakeholders through the channel of social dialogue.
He said the Federal Government had refused to engage and reach an agreement with organized labour on critical issues on the consequences of the unfortunate hike in prices of petrol which had unleashed massive suffering on Nigerian workers and masses.
Ajaero said: “There is a renewed onslaught against trade unions and its leadership by the state and its agents across Nigeria.
‘’The Police, under the instruction of certain forces peddling the name of the President of the Federal Republic of Nigeria, invaded and occupied illegally the national headquarters of the National Union of Road Transport Workers headquarters seeking to install its own executive.”
The Kogi government on Thursday declared free education for indigenes at primary and secondary school levels.
Governor Yahaya Bello made the declaration in Lokoja when he inaugurated the distribution of the federal government’s palliatives to cushion the effects of subsidy removal.
“My administration has now declared free education from primary to secondary school in the state and will cover examination fees for WAEC, NECO, and JAMB for all indigenes of Kogi,” he declared.
Mr Bello, who commended the federal government’s efforts to mitigate the impact of fuel subsidy removal on citizens, said the palliatives, which were valued well in excess of N2 billion, would reach intended beneficiaries regardless of political, religious, or ethnic affiliations.
He extended his gratitude to President Bola Tinubu for the idea.
“Already, all the local government areas of the state have commenced the distribution of rice and other essential items.
“Therefore, this launch is essentially an extension of our ongoing efforts to cushion the impact of the current policy on our citizens.
“We are not only distributing rice but also making cash available to reach the people. The total value of what we are launching for distribution today exceeds N2 billion, and it is intended to reach every household in Kogi,” he stated.
He emphasised that those responsible for the distribution must not discriminate, warning that any report of bias or favoritism, or hoarding would be dealt with accordingly.
The governor, who called on security agencies to ensure a peaceful and smooth distribution process, assured the people that more initiatives to alleviate hardship were in place.
He commended the state’s people for their support for Mr Tinubu’s administration and the New Direction administration in Kogi, which had prioritised the welfare of residents.
While mentioning the various infrastructure developments that had taken place across the state, Mr Bello expressed confidence that the governorship candidate of the APC, Usman Ododo, when elected as his successor, would continue to build on the current achievements.