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FG, States, LGs Share N473.8bn For Oct

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Nigeria’s earnings from oil exports dropped further in October, with a loss of about $1.3 million (about N256.1 million), as the slide in global crude oil prices continued to negatively impact the country’s economy.
The loss was a result of drop in average crude oil price from $47.315 a barrel in August to $46.96 in September, said the minister of finance, Kemi Adeosun.
However, compared to September, the revenue slide was relatively smaller.
Oil receipts which stood at about N213.128 billion in September, dropped by about N25.898 billion, to N187.23 billion in October, as the Federation Accounts Allocation Committee, FAAC, converged on Abuja on Friday to share the statutory allocation for the month.
At the close of trading on Friday, Brent crude oil price, which opened at $43.04 per barrel, dropped by 2.95 percent, to about $41.77, signalling no respite for Nigeria and other major oil producers struggling to keep their heads above the economic waters.
Members of the Organisation of Petroleum Exporting Countries, OPEC are already preparing for the 168th meeting of the group scheduled for Vienna, Austria next Friday to attempt to strike a compromise on how to stabilize the market and firm up commodity prices.
Members of the group are already jittery, amid fears that crude oil price may be heading towards the $20 per barrel mark, down from a peak of over $107 per barrel in June 2014, if steps were not taken to attempt to salvage the situation.
The N187.23 billion oil revenue in October would be the worst accrual from oil exports since the present administration took over power.
In May, FAAC reported a yield of about N225.2 billion, which increased to about N289.4 billion in June.
Although about N213.13 billion was realized as oil revenues in September, it was lower by about N2.85 billion than the N215.98 billion in August.
At the end of the FAAC meeting in October, the Accountant General of the Federation, Ahmed Idris, had explained that the drop in oil revenue was as a result of the negative impact of facility shutdowns for maintenance and production shut-ins at different periods and terminals during the month.
At the end of the FAAC meeting in Abuja on Friday, Minister of Finance, Kemi Adeosun, said gross revenue received in October stood at N400.310 billion, which is higher by N78.314 billion than the N321.996 billion for the previous month.
Mrs. Adeosun said intermittent shutdowns of operational facilities and production shut-ins for repairs and maintenance at different terminals continued to negatively impact on crude oil and gas revenue during the month.
Besides, the Minister said the country lost about $1.3 million (about N256.1 million) as a result of drop in average crude oil price from $47.315 in August to $46.96 in September.
To make up for the drop, Mrs. Adeosun said non-oil revenue recorded a significant improvement during the month, with about N104.212 billion collection above the figure in September.
In addition, about N6.33 billion was received from the Nigerian National petroleum Corporation, NNPC, as refund for the N450 billion unremitted revenue since 2012, while another N6.995 billion came into the government coffers as exchange gain for the month.
Apart from a total of N57.789 billion realised from value added tax, VAT, collection, the Minister said the balance in the excess crude oil revenue account remained ta $2.258 billion.
Details of the revenue allocations to the three tiers of government for the month showed that the Federal Government took N200.662 billion, or 52.68 per cent; states N126.277 billion, or 26.72 per cent; local governments N95.303 billion, while 13 per cent oil derivation to the nine oil producing states was N24.141 billion.
On stolen funds, which President Muhammadu Buhari said recently that some public officials have started returning to the Federal Government, the Minister said such monies were not part of the revenues shared during the FAAC meeting.
“Recovered loot is not shared in the FAAC meeting,” the minister said. “We have no records of recovered loots. But, I am sure the process is on-going. When the accounts of such returns become available, they would be returned to wherever they were stolen from.”

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Anglican Bishop Urges Politicians To Lead With Integrity

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The Bishop of Anglican Diocese of Niger Delta, Dr Emmanuel Oko-Jaja, has called on Nigerians, especially those in positions of authority to uphold moral standard and integrity.
Oko-Jaja said this at a thanksgiving service to mark the 90th birthday of Prof. Sylvanus Cookey at Saint Paul Anglican Church in Opobo Town, Rivers yesterday.
The Tide’s source reports that Cookey was the second Vice Chancellor of the University of Port Harcourt (UNIPORT) in 1982.
Oko-Jaja advised political leaders to always be self-aware and avoid actions that could damage their reputation.
“In today’s Nigeria, hardship has changed how the people behave, as lies have become more popular than the truth.
“We now live in a country where injustice is now celebrated and lowering moral and social standard have become the new normal.
“Leaders must follow the exemplary legacies set by our forebears by becoming upright and live a life that would not bring shame to their family and community,” he said.
He attributed the country’s current economic challenges and declining living standards to leaders failing to prioritise the well-being of citizens.
“The younger generation should emulate the virtues of our predecessors like Prof. Cookey, who prioritised integrity over material gain.
“Good reputation was the norm back then, and I hope that God will restore it to Nigeria, where leaders’ goal will be to have good names.
“If anyone wants to commit evil, they should remember that their actions can bring a bad name to their family and community,” he cautioned.
Addressing the celebrant, the King of Opobo Kingdom, HRM Dandason Jaja, praised Cookey for his impact on society and described him as a mentor and philanthropist.
He said that the celebrant was a distinguished academic, who had impacted numerous youths through vocational training, leading to their successful employment in different sectors.
Speaking earlier, Cookey expressed gratitude to God for attaining 90 years and acknowledged the support of his family and friends.
Reflecting on his contributions to the country, he encouraged leaders to leave behind positive legacies for future generations to celebrate.

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Senators, Reps To Resume Plenary In Remodelled Main Chambers

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Nineteen months after federal lawmakers movement to  temporary chambers,  the Nigerian Senate and House of Representatives would finally resume sittings in  their  newly remodelled main hallowed chambers tomorrow
Spokesperson of the House of Representatives, Hon. Akin Rotimi Jnr, and the Clerk to the Senate, Barrister Chinedu Akubueze confirmed the planned movement to the main chambers in separate written announcements made penultimate week on the change in resumption date by lawmakers from their ongoing recess.
Hon. Rotimi, who is the chairman, House Committee on Media and Public Affairs, in the official announcement dated April 4, 2024 to the honourable members, cited the need to resume plenary at the renovated and reconfigured main chamber, as reason for the postponement in line with the general wish of the lawmakers.
“The House of Representatives wishes to inform the public and stakeholders of the rescheduling of the resumption date from the ongoing recess, originally slated for Tuesday, April 16, 2024, to  Tuesday, April 23, 2024.
“This adjustment is necessary to accommodate the completion of renovations to the main chamber of the House of Representatives to ensure its readiness for plenary sessions, henceforth,” he stated.
Two days after, the Clerk to the Senate also issued a statement, postponing resumption of plenary by the Senate from April 16 to 23, 2024.
Akubueze ‘s statement reads in part: “Distinguished Senators are hereby invited to note that the resumption of the plenary sitting of the Senate, which was scheduled for Tuesday, 16th April, 2024, has been postponed to Tuesday 23rd April, 2024”
It would be recalled that ahead of the projects delivery, the Site Engineer of Visible Construction, Tajudeen Olanipekun, had early last month informed journalists covering the Senate, that the two main chambers, would be ready for use by both the Senate and the House of Representatives in April this year.
Olanipekun’s assurance on delivery of the fully transformed and reconfigured hallowed chambers to management of the National Assembly, coincided with call by the President of the Senate, Godswill Akpabio, to the Clerk to the National Assembly, CNA, Alhaji Sani Magaji Tambawal that both the Senate and the House of Representatives, want to move to their main chambers as soon as possible after close to two years of using temporary ones.
In carrying out the subtle marching order, the construction firm in the last five weeks has carried out the required finishings on
the upgraded and reconfigured hallowed chambers fixed with state-of-the-art chairs, parliamentary equipments,  appliances and extended sitting terraces.
Physically, the entire ambience of the space in and around the hallowed chambers have been transformed, just as barricades used to restrict movements at the foyer have been removed.
The  Federal Capital Development Authority, FCDA, had in March 2021 awarded a N30billion renovation contract to Visible Construction Limited to rehabilitate critical segments of the National Assembly complex.
The law makers had in September  2022 vacated the main chambers to enable the Contractors;   handle the renovation work of both chambers
Some of the critical segments are the office buildings housing the office accommodation for the senators and honourable members, watertightness of the roof of the complex, the cooling system, replacement of lifts that are inoperable in the White House as well as in the House of Representatives and in the new Senate Wing among others.

By: Nneka Amaechi-Nnadi, Abuja

 

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Police Commence Recruitment Process In Anambra, Enugu

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The Zone 13 of the Nige- rian Police Force, comprising Anambra and Enugu States, has announced the venue and time for both General Duty and Specialist Constable recruitment medical screening in the two States.
This is contained in a statement issued yesterday by the Zonal Police Public Relations Officer, SP Josephine Ihunwo, yesterday in Enugu.
Ihunwo said that prospective candidates from Zone 13 should note that the exercise would take place at Police Hospital, Awka.
She said that the medical screening would commence simultaneously nationwide on Tuesday, April 16, and end on April 30, 2024.
“Candidates are advised to visit the recruitment portal: https://apply.policerecruitment.gov.ng to know their status, specific time, date and other mandatory requirements.
“So also, qualified applicants are to appear in clean white T-shirt and short with the following requirements;
“National Identity Card/Slip; Print Out of Medical Examination Slip and all necessary documents.
“The Assistant Inspector-General of Police Zone 13 Command, AIG Godwin Aghaulor, wishes all prospective candidates success as they embark on this exercise,” he said.

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