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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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FG approves 3 critical civil service policies

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The Federal Government has approved three transformative policies aimed at boosting productivity and enhancing service delivery across the civil service. These are the Rewards and Recognition Policy, the Incentive and Consequence Management Policy, and the Civil Service Mentoring Policy.

The approval was granted during the Federal Executive Council meeting presided over by President Bola Tinubu.

The move marks a new era of performance-driven governance, strategic talent development, and enhanced accountability, with the policies designed to work in synergy to motivate staff, foster a culture of excellence, and significantly improve service delivery to Nigerians.

According to a statement signed by MrsEnoOlotu, Director of Information and Public Relations, the Head of the Civil Service of the Federation, MrsDidi Esther Walson-Jack, affirmed that the policies are central to staff welfare and the enhanced value proposition of civil servants and also align with the 2021 Public Service Rules (060101–060111).

She commended the President for his commitment to transforming the civil service and fostering a workplace culture that is efficient, productive, incorruptible, and citizen-friendly. The Head of Service noted that the approval demonstrates the government’s firm resolve to value public servants, reward excellence, and systematically groom the next generation of leaders.

The Rewards and Recognition Policy establishes a comprehensive framework designed to attract, nurture, develop, and retain top talent within the service. It seeks to promote excellence, innovation, and continuous improvement, thereby strengthening overall institutional performance.

The Incentive and Consequence Management Policy introduces a clear, transparent, and equitable system where exceptional performance is rewarded and under-performance is addressed through structured corrective measures. It aims to entrench fairness and accountability at all levels while providing developmental support to staff requiring improvement.

The Civil Service Mentoring Policy, described as a strategic investment in the future of the service, is intended to bridge experience gaps and ensure the systematic transfer of institutional knowledge.

“It will equip the next generation with the requisite skills, values, and ethical grounding for strategic leadership, while preserving invaluable institutional memory against the tide of retirements, thereby ensuring continuity and sustained excellence,” the statement added.

MrsWalson-Jack reiterated that the President’s approval for the implementation of these policies is not merely an administrative milestone, but the foundation upon which a modern, agile, and empowered civil service will be built. She assured civil servants that their dedication will be recognised, excellence rewarded, and personal growth supported.

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RSG CHARGES JOURNALISTS TO SHOWCASE GOVT PROGRAMMES 

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The Rivers State Government has charged journalists to serve as a bridge between the government and the people by reporting effectively on government’s policies, projects, programmes and achievements, thereby keeping the public informed on its activities.

 

The Secretary to the State Government, Dr. BeniboAnabraba, gave the charge during a courtesy visit by the Nigeria Union of Journalists (NUJ), Rivers State Council, led by the Chairman, Mr. Paul Bazia-Nsaneh, in Port Harcourt.

 

Dr. Anabraba emphasized that as the fourth estate of the realm, journalists owe the public a duty to provide a platform for constructive criticism of government and serve as watchdog of society.

 

He indicated that public opinion via the mass media is significant to help the government appreciate public perception, and also to create awareness on government initiatives, programmes and policies as they affect the citizenry.

 

“As a Government, we also appreciate the fact that you are our partner in conveying government policies and activities to the people, for their consumption, appreciation and review. We implore you to continue to publicise matters of importance in governance and encourage civic participation particularly on issues such as civil rights, voters’ registration, actions against gender-based violence, etc.

 

“You also have an obligation to promote morality and balanced criticism of government,” he stated

 

The chairman of the Rivers Council of NUJ, Mr. Paul Bazia-Nsaneh thanked the State Government for receiving them and intimated him of their desire to work with the government.

 

He explained that the union is poised to positively portray the State through an agenda of development communications, adding that the union has also outlined strategic projects to this effect.

 

“As a union, we need to change the narrative and to talk about development communications. If we don’t put out the opportunities that are available in River State, then we can not have people who will be interested in investing in the opportunities that are available to us. So we decided to put out some key areas that we need to focus on development communication trajectory,” he added.

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Police Arrest Sex Trafficking Syndicate, Rescue 15 Young Girls InOndo

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The Police Command in Ondo State says it has  dismantled a notorious sex trafficking syndicate exploiting young women under the guise of job recruitment and social media content creation.

This is contained in a statement signed and made available to newsmen, yesterday, in Akure by the command’s spokesperson, DSP OlusholaAyanlade.

Ayanlade said one Jayeola Joshua was arrested along with two others, while 15 young girls aged 20 to 26, accommodated in an apartment in Alagbaka, Akure, for illicit activities, were rescued. 

The Police spokesperson, who said the sex syndicate was arrested by the command’s Special Weapons and Tactics (SWAT), explained that efforts were on to apprehend the remaining accomplices.

According to him, investigations revealed that the syndicate lured victims across the country with false promises of lucrative employment, including domestic work, ushering services, and overseas placements.

He said the syndicate’s arrangement not only facilitated exploitation but also highlighted how organised criminal elements prey on the vulnerability of unsuspecting young women seeking legitimate opportunities.

“Further inquiry uncovered that the victims were manipulated into sending nude images and videos, which were subsequently transmitted to clients procuring sexual services.

“The principal suspect reportedly received the largest share of the proceeds, while the operation was disguised as producing “relationship content” on social media, misleading the public and masking criminal intent.

“Following the rescue, the 15 victims were taken to the Police Hospital, Akure, for medical care, psychological evaluation, and counseling,” he said.

Ayanlade explained that evidence indicated the apartment was specifically rented to facilitate these activities, prompting the Commissioner of Police (CP) to direct the landlord’s invitation for questioning as part of the ongoing investigation.

He also stated that the CP directed the case be transferred to the command’s Gender Desk for further investigation, counseling, and the reintegration of the victims into society.

According to the spokesperson, the CP issued a marching order that all arrested suspects must be prosecuted to demonstrate the command’s zero-tolerance stance on human trafficking and sexual exploitation.

“This reaffirms the command’s determination to eradicate criminal and sex networks engaged in human trafficking and sexual exploitation,

“The CP has urged parents and guardians to verify job offers and recruitment agents before allowing their wards to travel.

“He also encouraged the public to remain vigilant and provide credible information that can aid in preventing and detecting crime across the state, underscoring the vital role of community partnership in maintaining public safety,” he said.

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