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FG, States, Councils Share N532.7bn In Oct – Hit By N25bn Revenue Downturn
The Federal, States and Local Governments in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September.
The Permanent Secretary of the Ministry, Mahmoud Isa-Dutse, said this yesterday in Abuja while briefing journalists on the outcome of the monthly Federal Account Allocation Committee, FAAC.
Mr. Isa-Dutse attributed the decline to the decrease in revenue from export sales of $42.94 million due to a decrease in crude oil production by 1.25 million barrels.
He said even though the average price of crude oil increased from $46.29 per barrel to $48.66 per barrel, it was not enough to make up for the loss in production.
“Some of the issues that impacted negatively on crude oil production were attributed to ageing facilities which resulted to shut-ins and shut-downs of pipelines at various terminals for repairs and maintenance.
“Petroleum Profit Tax increased significantly while Import Duty and Value Added Tax improved only significantly.
“Companies Income Tax and Oil Royalty recorded slight decreases in the month under review,” he said.
In summary, Mr. Isa-Dutse said after deductions as cost of collection by FIRS, Customs and DPR, the federal government received N205.7 billion, representing 52.68 per cent; states and N104.3 billion, representing 26.72 per cent.
The local governments, he said, received N80.4 billion, amounting to 20.60 per cent of the amount distributed.
Mr. Isa-Dutse announced that N40.8 billion representing 13 per cent derivation revenue was also shared among the oil producing states.
He said that the country generated N317.2 billion as mineral revenue and N124.4 billion as non-mineral revenue.
He said this showed an increase of N41.6 billion from what the country generated as mineral revenue and a decrease of N23.5 billion in non-mineral revenue from what was generated in the month of September.
Meanwhile the Chairman, Commissioners of Finance Forum, Mahmoud Yunusa, has apologised for the lateness in holding the meeting, which was supposed to have taken place on November 23.
He said the meeting was cancelled by the state governors due to discrepancies found in revenue figures presented by some of the revenue generating agencies.
Mr. Yunusa confirmed that the NNPC had increased what they had initially presented to FAAC as what they had generated after the states showed their displeasure.
He said that to avoid such occurrence, the states as a major stakeholder in NNPC, would henceforth keep “an eagle eye on the affairs of the NNPC”.
“Going forward we will be fully involved in what the NNPC does to avoid this kind of errors in future. We will scrutinise their books,” he said.
Meanwhile, the Federal, States, Local Governments in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September.
The Permanent Secretary of the Ministry, Mr Mahmoud Isa-Dutse said this on Thursday in Abuja while briefing newsmen on the outcome of the monthly Federal Account Allocation Committee (FAAC).
Isa-Dutse attributed the decline to the decrease in revenue from export sales of 42.94 million dollars due to a decrease in crude oil production by 1.25 million barrels.
He said that even though, the average price of crude oil increase from 46.29 dollars per barrel to 48.66 dollars per barrel, it was not enough to make up for the loss in production.
“Some of the issues that impacted negatively on crude oil production were attributed to ageing facilities which resulted in shut-ins and shut-downs of pipelines at various terminals for repairs and maintenance.
“Petroleum Profit Tax increased significantly while Import Duty and Value Added Tax improved only significantly.
“Companies Income Tax and Oil Royalty recorded slight decreases in the month under review,” he said.
In summary, Isa-Dutse said after deductions as cost of collection by FIRS, Customs and DPR, the Federal Government received N205.7 billion, representing 52.68 per cent; states and N104.3 billion, representing 26.72 per cent.
The local governments, he said, received N80.4 billion, amounting to 20.60 per cent of the amount distributed.
Isa-Dutse announced that N40.8 billion representing 13 per cent derivation revenue was also shared among the oil producing states.
He said that the country generated N317.2 billion as mineral revenue and N124.4 billion as non-mineral revenue.
He said this showed an increase of N41.6 billion from what the country generated as mineral revenue and a decrease of N23.5 billion in non-mineral revenue from what was generated in the month of September.
Nobel Laureate, Professor Wole Soyinka, has called on Nigerians to reject silence in the face of extrajudicial killings and other abuses of human rights.
Soyinka stressed that accountability and civic courage remain essential to rebuilding public confidence in the nation’s institutions.
He made the call during the 28th Wole Soyinka Lecture held in Port Harcourt, last Friday as part of activities marking his 92nd birthday.
The lecture, themed “Reclaiming the Nigerian State through Accountability, Justice and Civic Courage,” drew participants from different sectors of society.
The renowned playwright and human rights advocate said the country’s greatest tragedy was not only the unlawful killings carried out by state and non-state actors, but also the silence that often follows such incidents, allowing perpetrators to evade justice.
According to him, indifference by citizens to abuses of power and violations of fundamental human rights has contributed to the persistence of extrajudicial killings and other forms of injustice across the country.
Soyinka said he dedicated this year’s lecture to victims of unlawful killings, noting that the event was intended to honour individuals who had lost their lives as a result of failures within the justice system and society’s inability to protect the sanctity of human life.
He stressed that the lecture was dedicated to what he described as the basic unit of every society – the human being, and urged Nigerians to place greater value on human dignity irrespective of ethnicity, religion or social status.
The Nobel Laureate recalled several incidents of violence, including the fatal shooting and killing of a young man in Ugheli in Delta State by a police officer, and the mob killing of Deborah Yakubu in Sokoto State sometime ago, lamenting that many of those responsible are yet to face justice.
He expressed concern that some perpetrators of violent crimes had openly admitted their actions without fear of prosecution, describing such situations as evidence of serious failures within the nation’s justice system.
Soyinka maintained that when justice is delayed or denied, public confidence in state institutions continues to erode, thereby encouraging further violations of human rights.
Responding to critics who accuse him of promoting religious or ethnic divisions whenever he spoke on such issues, Soyinka dismissed the allegations and pointed out that his advocacy has always centred on the protection of human life and the rule of law.
He urged Nigerians to remain vigilant and continue demanding justice in cases of alleged extrajudicial killings, including the recent shooting of a young man by a police officer, stressing that every life deserves equal protection under the law.
The literary icon also recalled an earlier pledge by a past incoming president to make public the files relating to unresolved assassinations and extrajudicial killings, questioning the status of the promised investigations.
He challenged citizens to continue asking questions about unresolved cases, insisting that justice, accountability and respect for human dignity are indispensable to building a peaceful, democratic and inclusive Nigerian society.
The Federal Airports Authority of Nigeria (FAAN) has clarified that there was no fire at Terminal 2 of the Murtala Muhammed International Airport, Lagos, contrary to its earlier advisory.
Earlier yesterday, FAAN had announced that a fire incident had occurred at Terminal 2 of the nation’s busiest airport, and assured that its Aerodrome Rescue and Firefighting Service had been deployed to contain the situation.
There were also reports that activities were briefly disrupted at the airport yesterday after smoke was seen inside parts of the terminal.
Videos circulating online showed passengers kept standing outside the terminal while firefighters responded to the incident.
However, in an update issued less than two hours later by the Director of Public Affairs and Consumer Protection, Henry Agbebire, and posted on FAAN’s official X handle, the authority said preliminary findings showed that the smoke seen at the terminal was caused by the discharge of the facility’s FM-200 fire suppression system.
“Further to our earlier advisory regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, the Federal Airports Authority of Nigeria (FAAN) wishes to provide the following update,” the statement read.
“Preliminary findings indicate that there was no fire at the terminal. The smoke observed within the affected area resulted from the discharge of the terminal’s FM-200 fire suppression system. The reason for the activation of the fire suppression system is currently being investigated,” FAAN stated.
The authority said normal operations had resumed at the terminal while investigations were ongoing to determine the cause of the incident.
“Normal operations have since resumed at the terminal, while detailed investigations are ongoing to determine the exact cause of the incident,” the statement added.
The authority thanked passengers, airlines, airport users and other stakeholders for their understanding and cooperation.
FAAN appreciated the understanding and cooperation of passengers, airlines, airport users and all stakeholders, and reiterated its commitment to the safety and security of all airport operations.