Business
Federal Allocation: Three Tiers To Share N621bn
The three tiers of government in the federation is expected to share a total of N621 billion for the month of February 2012.
According to the information from The Tide source, the decision was taken during the Federation Account Allocation Committee (FAAC) meeting in Abuja on Monday, which was revealed by the Minister of state for finance , Yerima Ngama shortly after the meeting.
Mr Ngama said that the federal government got a total of N260 billion while the states and local government areas got a total of N131 billion and 111 billion respectively.
He said that the thirteen per cent mineral derivations accruing to oil producing states stood at over N60 billion for the month of February.
According to the Minister, the amount shared in February shows an increase of over N6 billion of the funds shared in January 2012.
There were fears that the three tiers of governments may not have enough money to share for the month of February because as at last week the Nigerian National Petroleum Corporation, Federal Inland Revenue Service and the Nigerian Customs Service had not remitted revenues for the month of last month into the Federation Account.
This according to sources was the reason why the FAAC meeting did not hold last Friday.
Last year, the monthly FAAC meeting was postponed several times because of NNPC’s N450 billion indebtedness to the Federation Account. The corporation later agreed to pay the debt in instalments.
Last month, the Federal, states and local governments shared N614 billion for the month of January as against N616.93 shared in December, 2011.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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