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JULY: FG, States, LGs Share N760.717bn Revenue

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The Federation Accounts Allocation Committee (FAAC) has shared a total sum  of N760.717 billion Federation Account Revenue to the federal, states, and local governments in July.  

This was revealed in a statement on Friday at the end of the virtual meeting of the FAAC for August.

The revenue, according to the statement comprised distributable statutory revenue of N617.705 billion, distributable Value Added Tax (VAT) revenue of N140.555 billion, and exchange gain of N2.457 billion.

“In July 2021, the sum of N63.501billion was the total deductions for the cost of collection, statutory transfers, and refunds,” said Henshaw Ogubike who is the spokesperson for the Office of the Accountant General of the Federation (OAGF).

“The balance in the Excess Crude Account (ECA) was $60.855 million”, the statement said.

It added that from the total revenue, the Federal Government received N321.226 billion, while state governments got N222.514 billion, and the sum of N166.562 billion was distributed to the local governments.

Also, the sum of N50.415 billion was shared to the relevant states as 13 per cent derivation revenue while the distributable statutory revenue of N617.705 billion was available for the month.

From the distributable statutory revenue, the Federal Government received N299.004 billion, state governments received N151.659 billion, and local governments got N116.922 billion.

The sum of N50.120 billion was given to the relevant States as 13 per cent derivation revenue.

The statement continued, “In the month of July 2021, the gross revenue available from the Value Added Tax (VAT) was N151.134 billion,” Ogubike revealed. “This was lower than the N154.465 billion available in the month of June by N3.331billion.

“The sum of N4.534 billion allocation to NEDC and N6.045 billion cost of revenue collection were deducted from the N151.134 billion gross Value Added Tax (VAT) revenue, resulting in the distributable Value Added Tax (VAT) revenue of N140.555billion.”

From the N140.555 billion distributable VAT revenue, the Federal Government received N21.083 billion, state governments received N70.278 billion, and local governments got N49.194 billion.

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NYSC to Increase Corps Members’ Allowance to ₦77,000 Monthly

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The management of the National Youth Service Corps (NYSC) has announced that corps members across the country will soon begin receiving ₦77,000 as their monthly allowance.

 

The Director General of the NYSC, Brigadier General YD Ahmed, disclosed this on Tuesday in Abuja, according to a statement issued by the NYSC spokesperson, Caroline Embu.

 

General Ahmed emphasized that the welfare of corps members remains a top priority for his administration, noting that arrangements for the payment of the new allowance have been finalized.

 

The increase in corps members’ allowances is in line with the recent review of Nigeria’s minimum wage from ₦30,000 to ₦70,000, which was signed into law by President Bola Tinubu in July 2024.

 

This development marks the second major adjustment in corps members’ stipends in recent years. In 2020, the NYSC increased the allowance from ₦19,800 to ₦33,000 following the implementation of the ₦30,000 minimum wage.

 

The latest increment reflects the government’s commitment to improving the living standards of Nigerian youths serving their country under the NYSC scheme.

 

President Tinubu’s signing of the new minimum wage bill in July 2024 came after months of negotiations between government authorities, labor unions, and private sector stakeholders. The adjustment aims to address inflationary pressures and improve the economic well-being of workers across the country.

 

The NYSC has assured corps members of its continued commitment to their welfare and development as they contribute to national unity and service.

 

 

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Unprofessional Conduct: Police Demote Officer, Disband Unit

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The Abia State Police Command has demoted a police corporal, Okonkwo Ebuka, to the rank of constable following his involvement in unprofessional conduct and incivility towards members of the public.

The Command’s Public Relations Officer, Maureen Chinaka, confirmed the disciplinary action in a statement released on Tuesday.

According to her, the demotion was the outcome of an administrative proceeding where the officer was tried in an orderly room and found guilty of discreditable and unprofessional behaviour.

“The Commissioner of Police, Abia State Command, CP Danladi Isa, in alignment with the vision of the Inspector General of Police (IGP) to establish a professionally competent, service-driven, rule-of-law-compliant, and people-friendly police force, has disbanded the Command’s Anti-Cultism Unit for unprofessional conduct and incivility towards members of the public,” the statement read.

It further stated that Corporal Okonkwo Ebuka, formerly attached to the Area Command in Aba but deployed on special duty at Isuochi, was demoted as part of efforts to enforce discipline within the Force.

“The Commissioner of Police emphasized the Command’s zero-tolerance policy for any form of unprofessional conduct among officers that could tarnish the good image of the Force,” the statement added.

The Abia State Police Command reiterated its commitment to upholding professionalism and fostering positive engagement with the public in line with the principles of ethical policing.

 

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Saki Town Mourns as Okere’s Wife, Queen Waliyat, Dies

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Queen Waliyat Olabisi, the second wife of the Okere of Sakiland, His Royal Majesty, Oba (Dr.) Khalid Oyeniyi Olabisi Oyedepo III, has passed away.

She died on Tuesday morning, leaving the people of the ancient town in mourning.

As of the time of filing this report, the cause of her death remains unknown. However, her sudden demise has sent shockwaves across the community.

Many indigenes of Saki have taken to social media to express their grief, sharing heartfelt tributes and condolences for the royal family.

The late Queen Waliyat was celebrated for her elegance and impactful contributions to both the palace and the community.

 

 

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