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FAAC: FG, States, LGCs Share N1.203trn For August

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The Federation Account Allocation Committee (FAAC), at its September 2024 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.203 trillion to the three tiers of government as Federation Allocation for the month of August, 2024 from a gross total of N2.278 trillion.
From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Exchange Difference (ED), the Federal Government received N374.925billion, the States received N422.861billion, the Local Government Councils got N306.533 Billion, while the Oil Producing States received N99.474billion as Derivation, (13% of Mineral Revenue).
The sum of N81.975billion was given for the cost of collection, while N992.617 billion was allocated for Transfers Intervention and Refunds.
The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of August 2024, was N573.341 billion as against N625.329 billion distributed in the preceding month, resulting in a decrease of N51.988 billion.
From that amount, the sum of N22.934billion was allocated for the cost of collection and the sum of N16.512 billion given for Transfers, Intervention and Refunds. The remaining sum of N533.895billion was distributed to the three tiers of government, of which the Federal Government got N80.084billion, the States received N266.948billion and Local Government Councils got N186.863billion.
Accordingly, the Gross Statutory Revenue of N1.221trillion received for the month was lower than the sum of N1.387 received in the previous month by N165.994. From the stated amount, the sum of N58.415 billion was allocated for the cost of collection and a total sum of N976.105billion for Transfers, Intervention and Refunds.
The remaining balance of N186.636 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N71.624billion, States received N36.329 billion, the sum of N28.008 Billion was allocated to LGCs and N50.675 Billion was given to Derivation Revenue (13% Mineral producing States).
Also, the sum of N15.643 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.252 Billion, States got N7.509 Billion, Local Government Councils received N5.256 Billion, while N0.626 Billion was allocated for Cost of Collection.
The Communique also disclosed the sum of N468.245 Billion from Exchange Difference, which was shared as follows: Federal Government received N220.964 Billion, States got N112.076 Billion, the sum of N86.406 Billion was allocated to Local Government Councils, N48.799 Billion was given for Derivation (13% of Mineral Revenue).
It further disclosed that
Companies Income Tax (CIT), Value Added Tax (VAT), Import and Excise Duties, Electronic Money Transfer Levy (EMTL), Petroleum Profit Tax (PPT), Oil and Gas Royalty and Customs External Tarrif levies (CET) all recorded decreases.
According to the Communique, the total revenue distributable for the current month of August 2024, was drawn from Statutory Revenue of N186.636 Billion, Value Added Tax (VAT) of N533.636 Billion, N15.017 Billion from Electronic Money Transfer Levy (EMTL) and N468.245 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.203 Trillion.
The balance in the Excess Crude Account (ECA) as at September 2024 stands at $473.754.57
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while welcoming FAAC members, appreciated them for their continued support and contributions, urging them to do more
While also thanking the Revenue Generating Agencies for their hard work in ensuring that the three tiers of government are running smoothly, HM Edun assured that Nigeria is going well, explaining that we have a President whose actions is in line with the Rule of Law and he is making sure that whatever the country is going through is a stringent economic conditions aimed at repositioning the economy for the benefit and future of our country
He emphasised that the policies are for the good of the nation it is for our own good, we have to go through turbulent situation before the economy will stabilize for good, he said.
He added that the challenges we are witnessing are not only limited to Nigeria alone but to other countries of the world. *We have to play our own role, we have to fasten our belts*, he noted

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Odu Urges Collaboration Among Stakeholders To Improve Health Service Delivery In Rivers

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Rivers State Deputy Governor, Prof. Ngozi Odu, has called for renewed commitment, transparency, and collaboration among stakeholders in the health sector in the State.

The deputy governor particularly urged synergy between the Rivers State Contributory Health Protection Programme  (RIVCHPP) and the Primary Health Care Management Board towards improved healthcare delivery in the State.

?Prof. Odu made this call during the 2026 First Quarter  Review Meeting of the Task Force on Primary Health Care at the Government House, Port Harcourt, on Wednesday.

?She stressed the importance of honesty and urged all parties to be truthful and open in addressing challenges within the system.

?According to her, transparency remains critical to identifying and resolving underlying issues affecting healthcare delivery, noting that “if we are not truthful, we will not cure the disease, but merely cover it up.”

The deputy governor recounted a personal experience at a Primary Health Center where a patient, despite being duly registered under the RIVCIPP scheme with completed biometric capture, was still asked to make payment for services.

According to her, intervention by relevant authorities later confirmed the patient’s eligibility, exposing a communication gap between the scheme and healthcare providers.

Odu warned that such incidents could discourage community members from enrolling in the scheme, thereby undermining its objectives.

“When this happens, we are disenfranchising our people. The message that goes back to the community is that even when you register, you are still made to pay,” she stressed.

?While commending the leadership and staff of the Primary Health Care Management Board, Ministry of Health, Development Partners as well as other supporting units, for their efforts, ty deputy governor stressed that performance should not lead to complacency.

She urged stakeholders to continuously strive for improvement, raise standards, and leave lasting positive impacts within the system.

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You Can Now Print Your Exam Slips, JAMB Tells 2026 UTME Candidates

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The Joint Admissions and Matriculation Board (JAMB) has announced the opening of examination slip printing for candidates registered for the 2026 Unified Tertiary Matriculation Examination (UTME).

JAMB made the announcement yesterday, urging candidates to visit its website to download their slips ahead of the examination.

“Examination Slip Printing is now available. The slip contains details of the venue, date and time of your examination and gives you access to the examination hall,” the board said.

Candidates are to visit jamb.gov.ng and click on “2026 Slip Printing” to print their slips.

The development comes after JAMB dismissed a viral press release falsely claiming the examination had been postponed.

The board described the notice as “malicious and fake” and urged candidates to disregard it.

The 2026 UTME is scheduled to hold from Thursday, April 16, to Saturday, April 25, 2026.

The examination follows a mock test conducted on Saturday, March 28, which recorded technical difficulties at some Computer-Based Test centres.

Of the 224,597 candidates who registered for the mock, 152,586 sat for the test across 989 CBT centres nationwide.

JAMB said over 20 centres were delisted for technical inadequacies.

The board also warned candidates against fraudsters on WhatsApp claiming to facilitate score inflation, describing such claims as “false and criminal”, and threatening cancellation of registration or withholding of results for any candidate found involved.

Over two million candidates, according to JAMB Registrar, Prof. Ishaq Oloyede, registered for this year’s UTME.

 

 

 

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RSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence

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In a decisive step towards redefining its future, the Rivers State University, Port Harcourt, has formally unveiled its Third Five-Year (2026-2030) Strategic Development Plan.

The development plan is a comprehensive roadmap designed to strengthen the university’s position as a leading institution in Nigeria and beyond.

The unveiling took place during a high-level engagement with the Governing Council, Principal Officers and the university congregation, at the Convocation Arena, recently.

Delivering his remarks at the unveiling ceremony, the Pro-Chancellor of the university and Chairman of Council, Hon. Okey Wali, SAN, charged all members of the university community to align their activities with the strategic direction of the institution, emphasizing that the success of the plan depends on collective commitment.

He noted that the plan is not merely a document, but a working framework that requires discipline, accountability and unity of purpose.

According to the Pro-Chancellor, only through coordinated efforts from all stakeholders can the university fully realize its vision.

“I hereby invite the Visitor to the University, donor agencies, friends and well-wishers, and all stakeholders to support and fund the implementation of this strategic plan. We are confident that this plan will take RSU to greater heights in the comity of higher institutions,” he said.

The Vice-Chancellor of the University, Prof. Isaac Zeb-Obipi, described the Strategic Development Plan as a document that would enhance the university’s corporate strengths, mitigate current weaknesses, leverage its corporate opportunities and address perceived existential threats.

“This Five-Year Strategic Plan sets out RSU’s goals, strategic objectives, expected outcomes and impact, including intervention strategies,” he said.

On his part, the Chairman of the Strategic Development Planning Committee, Prof. Emeritus Joseph A. Ajienka, noted that the 2026-2030 Strategic Development Plan represents a bold reaffirmation of the university’s founding ideals of excellence, creativity, innovation and inclusivity, aimed at positioning the institution to respond effectively to contemporary challenges in higher education.

Prof. Ajienka, who is also a member of the Governing Council, disclosed that the plan was developed through an extensive and inclusive consultative process, which he said reflects contributions from Faculties, Departments, Satellite Campuses and Administrative Units.

At its core, the plan seeks to advance the university’s vision of becoming a “unique and uncommon” institution that is structurally and philosophically oriented towards solving practical societal problems and ranking among the top ten universities in Nigeria.

The strategic framework identifies six key challenges confronting the university, including funding constraints, infrastructure deficits, limited research collaboration, and service delivery inefficiencies.

A statement by the university’s Acting Director, Corporate Affairs, Victor G. Banigo, further stated that the university has articulated four broad strategic goals supported by eight targeted objectives.

A central priority of the plan, according to him, is the strengthening of governance and administrative systems, alongside deliberate efforts to expand the university’s funding base. Others include enhanced alumni engagement, strategic partnerships and innovative fundraising initiatives aimed at ensuring long-term financial sustainability.

“Equally significant is the commitment to upgrading physical infrastructure across all campuses. Plans are underway to modernize lecture halls and laboratories, expand student accommodation, improve campus security and deploy advanced ICT systems to support teaching, learning and research.

“Recognizing that human capital is the backbone of institutional success, the university has placed strong emphasis on staff development, recruitment and productivity enhancement. Through targeted training programmes, mentorship initiatives and performance management systems, the plan aims to foster a highly skilled and motivated workforce.

“In addition, the university is poised to deepen its focus on research, innovation and entrepreneurship. By reviewing academic curricula, strengthening industry partnerships and establishing innovation incubation centers, Rivers State University seeks to translate research outputs into practical solutions that address societal needs and drive economic growth,” he said.

The PRO disclosed that the implementation of the strategic plan is projected at ?110 billion, reflecting the scale of transformation envisioned.

“While the university is committed to funding a significant portion internally, additional resources will be mobilized through government support, donor agencies, alumni contributions, and public-private partnerships.

“This multi-channel funding strategy aligns with the university’s broader goal of building a resilient and self-sustaining financial model capable of supporting long-term development,” he explained.

To ensure effective implementation, he said, “the plan incorporates a comprehensive monitoring and evaluation framework, complete with performance and impact indicators. A mid-term review is scheduled within the first two years to assess progress and make necessary adjustments.

“Furthermore, the establishment of a dedicated Strategic Planning Office will provide oversight, coordination and accountability in executing the plan across all units of the university.”

According to the statement, “As the university embarks on this transformative journey, the message from leadership is clear: the Strategic Development Plan is a collective mandate.

“For staff, students, alumni and stakeholders, it represents an opportunity to contribute meaningfully to the growth and advancement of the institution. For the university, it is a pathway to consolidating its legacy while embracing innovation and global relevance.

“With a clear vision, defined priorities and a united community, Rivers State University stands poised to translate this strategic blueprint into measurable progress, advancing knowledge, empowering people and shaping the future of higher education in Nigeria.”

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