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FAAC: FG, States Share N299.7bn

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The Minister of Finance, Mrs Kemi Adeosun, yesterday in Abuja said that N299.7 billion was shared among the federal, states and local governments as revenue for March 2016.
Adeosun, who was represented by the Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, announced this while addressing newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting.
She said there was a N39.0 billion drop in revenue from the N338.8 billion that was shared in February.
She added that the shared amount comprised the month’s statutory revenue of N232.6 billion.
She noted that “there is exchange gain of N2.9 billion which is proposed for distribution.
“Therefore, the total revenue distributable for the month of March, including VAT of N64.2 billion is N299.7 billion.”
Adeosun also said that N6.3 billion that was refunded to the federation account by Nigerian National Petroleum Corporation (NNPC) was also shared.
Giving the breakdown of revenue among the three tiers of government, the finance minister said that the Federal Government received N109.1 billion,
representing 52.68 per cent, while states got N55.3 billion, representing 26.72 per cent.
The local governments, she said, received N42.7 billion, amounting to 20.60 per cent of the amount distributed.
She said N19.75 billion, representing 13 per cent derivation revenue was shared among the oil producing states.
Adeosun also said that during the month under review, the country generated N153.4 billion as mineral revenue and N79.3 billion as non-mineral revenue,
an increase of N23.0 billion and N14.83 billion respectively from what the country generated in the preceding month.
The minister also said that the Excess Crude Account maintained a balance of 2.25 billion dollars, indicating that nothing had been removed or added
since July 2015.
She pointed out that acts of vandalism on oil pipelines among other factors had continued to negatively impact on oil revenue generation.
According to her, there is a significant decline in incomes from Petroleum Profit Tax and Companies Income Tax.
She, however, reiterated government’s stand on diversification of the economy, stressing that it was on course and that all measures were being taken to achieve the goal.
Meanwhile, the Accountant-General of the Federation (AGF), Mr. Ahmed Idris, has given an update on government savings, saying that the Federal Government has realised slightly above N2.7trillion from the Treasury Single Account system.
He spoke during an interactive session with a team of journalists led by Director News, Federal Radio Corporation of Nigeria (FRCN), Alhaji Sani Sulieman.
He further stated that these monies belong to Federal Government Ministries, Departments and Agencies, and meant for their operations, and not for sharing or for any other purposes as being reported in some quarters of the media.
Idris said that the TSA has helped government to have a firm and full control of its resources, blocking leakages, helping it to reduce the cost of borrowing and to monitor spending in the MDAs.
He called on all organizations which have any problems on the operations of the TSA to come forward with their problems, assuring that the Office of the Accountant General of the Federation is committed to resolving whatever challenges they might have in line with best practices.

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Forum Expresses Confidence In APC Candidates’ Performance In Rivers

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The Rivers State chapter of the All Progressives Congress Christian Leaders Forum has expressed strong confidence in the capacity of All Progressives Congress (All Progressives Congress) candidates in the state to deliver effective governance if elected into office in the coming elections.
The State Coordinator of the forum, Archbishop Lucky Aroh, made this known during a breakfast and thanksgiving meeting held in Port Harcourt, where leaders gathered to pray for the stability of the party and the safety of its candidates ahead of the 2027 general elections.According to him, the meeting was convened to seek divine intervention for peace, unity, and security among APC candidates across Rivers State.
“Today we are praying for APC stability in Rivers State and the security of our candidates that have been elected to contest the 2027 elections. It is a breakfast meeting,” Aroh said.
He further expressed optimism that the party’s candidates would not disappoint the people if entrusted with leadership responsibilities.
“They will not fail when elected into office. We are here as fathers of the land to let them know, and I must tell you the truth that these are the authentic people that will do well in Rivers State,” he added.
Speaking earlier, the National Chairman of the forum, Professor Olanrewaju Abraham, commended the Rivers State chapter for organizing the programme, noting that the national body of the forum believes strongly in the power of prayer.
He stated that political leadership provides an opportunity to influence society positively, including advancing moral and spiritual values, while expressing confidence that APC candidates at all levels would emerge victorious in the upcoming elections.
Also speaking, the Rivers State Women Leader of the APC, Hon. Darling Amadi, praised the forum for its commitment to prayers for peace, stability, and the protection of party candidates.
Represented by the Deputy Women Leader of the party in the state, she described the initiative as commendable and urged other political and support groups within the party to emulate the gesture in promoting unity and stability.

By: John Bibor, Menebe Emmanuel & Fortune Paibi

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Okafor, Eminent Nigerians Celebrate Osagwe-Ogo At 70

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Prominent businessman and philanthropist, Elder Anthony Osagwe-Ogo, was celebrated in grand style as he marked his 70th birthday anniversary, with distinguished Nigerians, business leaders, and golf enthusiasts gathering to honour his remarkable contributions to society.
The colourful celebration took place at the Port Harcourt Golf Club, where friends, associates, and well-wishers converged to pay tribute to the revered elder statesman.
Chairman of the occasion, High Chief (Dr.) Ikenna Okafor, described the celebrant as a detribalised Nigerian whose generosity, humility, and commitment to humanity have earned him admiration across different communities and backgrounds.
According to Dr. Okafor, Pa Osagwe-Ogo’s impact on society and the development of his community remains unparalleled. He noted that members of the golfing community are proud to be associated with a father figure who consistently promotes the welfare and well-being of those around him.
He further stated that the history and growth of the Port Harcourt Golf Club cannot be told without acknowledging the significant role played by the celebrant, whose wisdom, encouragement, and leadership have helped sustain the club over the years.
“We are here to celebrate a man who has impacted humanity positively, a peace-loving individual and an epitome of hope for the younger generation. We pray to emulate his virtues. Today, we celebrate a bridge-builder, a trailblazer, and an iconic leader whose life continues to inspire many,” Dr. Okafor said.
He expressed delight at the large turnout of guests from various walks of life, describing it as a testament to the respect and affection Pa Osagwe-Ogo commands within and beyond Rivers State.
In his response, the celebrant, Pa Anthony Osagwe-Ogo, expressed profound gratitude to God for preserving his life and granting him the privilege of attaining the milestone age of 70.
He also thanked members of the Port Harcourt Golf Club, family members, friends, and associates for identifying with him during the celebration and for their unwavering support over the years.
The event featured the cutting of the birthday cake, presentation of awards to deserving members of the club, goodwill messages, and moments of celebration among guests.
The ceremony was attended by notable personalities from the business community, the golfing fraternity, and other sectors, all of whom joined in celebrating the life and legacy of the respected elder statesman.

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Fubara Commended For Sustaining Peace In Rivers As Sirawoo Receives Democracy Day Recognition

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Rivers State Governor, Sir Siminalayi Fubara, and the Permanent Secretary of the Rivers State Ministry of Information and Communications, Dr. Honour Kuru Sirawoo, have been honoured with awards of recognition in connection with the 2026 Democracy Day celebrations held in Port Harcourt.
The awards, which formed part of activities marking Nigeria’s Democracy Day on June 12, were formally presented on Tuesday at the Ministry of Information and Communications in Port Harcourt.
Presenting the awards was Hon. Abdul Hameed Oladipupo Alli, popularly known as “Mr. Nigeria,” Publisher of Asiwaju Trumpet Magazine and Achievers World International Magazine.
Governor Fubara was recognised for his efforts in sustaining peace, stability, and a conducive political atmospherJohn Bibor / Menebe Emmanuel / Fortune Paibie in Rivers State. The organisers noted that his administration has fostered harmony and strengthened civic participation across the state.
Dr. Sirawoo, on the other hand, was honoured for his exemplary administrative leadership and significant contributions to effective information management within the Ministry of Information and Communications.
Representing Dr. Sirawoo at the presentation ceremony, Dr. Christian Davies received the award on his behalf and expressed gratitude for the recognition. He described the honour as a reflection of Dr. Sirawoo’s unwavering commitment to professionalism, excellence, and dedicated public service.
Dr. Davies assured the organisers that the award would be formally conveyed to the Permanent Secretary.
The event also featured the presentation of commemorative publications highlighting major governance and civic milestones in Rivers State, including Easter celebrations, Workers’ Day activities, the Governor’s third anniversary in office, and Democracy Day programmes.
Organisers of the awards commended the Rivers State administration for what they described as sustained peace, political stability, and improved civic engagement, noting that these achievements have contributed significantly to the state’s continued development.

By: Jessica Sambol

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