FAAC shares N647 billion to Federal, State, Local governments for February

After the Federation Accounts Allocation Committee (FAAC) meeting held on Tuesday ended in a deadlock due to the alleged non-remittance of more than N37billion into the Federation Account, the committee reconvened on Wednesday to allocate the sum of N647billion to the Federal, state and local governments for the month of February.

Out of N647 billion shared, the Federal Government got N270.8bn, states received N173.75bn and the 774 local government councils were allocated a total of N130.9bn.

FAAC also allocated the sum of N57.35bn to the oil producing states based on the 13 per cent derivation principle while N14.55bn was returned to the revenue generating agencies as the cost of revenue collection.

The Minister of Finance, Mrs Kemi Adeosun, disclosed that the amount distributed represents an N11billion increase compared to what was distributed in January.

Comments

Rosatom's TVEL, AllWeld Nuclear, industrial agree to cooperate nuclear backend area

Allen Atwiine, Uganda The TVEL JSC, Managing Company of Rosatom's Fuel Division, and AllWeld Nuclear and Industrial, a South African firm, have signed a Memorandum of Cooperation which is focused on decommissioning and radioactive waste (RW) management at nuclear facilities in South Africa. The memorandum was signed by the party during the African Energy Week (AEW) 2024 in Cape Town on Tuesday. The Editorials gathered that the Memoradium outlined a framework for cooperation and the implementation of joint initiatives. Our correspondent gathered that the document was signed by Eduard Nikitin, Director for Decommissioning and RW Management at TVEL JSC, and Mervyn Fischer, CEO of AllWeld Nuclear and Industrial. Nikitin explained that the memorandum outlined plans for collaborative efforts in scientific, technical, and commercial activities related to the decommissioning of nuclear power plants and other facilities that pose nuclear and radiation hazards. He said, "The key...

Wikimedia Nigeria Foundation honours Folorunsho Coker, Kayode Akintemi

Oredola Adeola Wikimedia Nigeria Foundation has honoured Mr. Folorunsho Coker, Director-General of National Tourism Development Commission (NTDC) and Kayode Akintemi, Managing Director, Plus TV Africa, with Distinguished Personality Award for their contributions to the growth and development of open knowledge in Nigeria. The award ceremony was held at the Plus TV Africa studio in Victoria Island, Lagos at the weekend. Mr. Olaniyan Olushola, President, Wikimedia Nigeria Foundation Inc., while congratulating the award recipients, encouraged them to continue to promote open knowledge in Nigeria. The NTDC boss, according to Wikimedia, is a dominant force in the promotion of diversity in the Nigeria tourism sector and open knowledge in the country, adding that the NTDC under Coker has been supporting Wikimedia outreach programs (Wiki Loves Monuments, Wiki loves Earths). Olushola said, “Through the support of NTDC, professional photographers working with Wikimedia have received limitl...

President Buhari urges Nigerians to make right choices by reelecting him

Oredola Adeola | President Muhammadu Buhari in televised broadcast on Thursday prior to the Saturday February 16, 2019 Presidential election has urged Nigerians to allow his administration continue with the infrastructural and economic growth that the country has enjoyed under his government. According to him the choice that now confronts Nigerians is whether they want to continue with real infrastructure development, which is the road to prosperity and jobs or return to the era of ‘stomach infrastructure’. The statement reads in part: On Saturday, February 16, 2019, you will, once again, be called upon to choose the leaders who will pilot the affairs of our great nation for the next four years. This is a constitutional right which should be freely exercised by all eligible voters. 2. I wish therefore to start by assuring all Nigerians that this Government will do its very best to ensure that the 2019 elections take place in a secure and peaceful atmosphere. ...

The Editorials

Search This Blog