PANIC AS OYO DEMOLISHES SHOP IN POPULAR IBADAN MARKET. (PHOTO).

-
Image
 Panic as Oyo demolishes shop in popular Ibadan market Panic gripped residents and traders of the popular Ojoo market in the Akinyele Local Government Area of Oyo State as the government demolished scores of shops and kiosks in the area, on Thursday. The PUNCH gathered that the Ministry of Lands, Housing and Urban Development had served the traders quit notice a long time ago but they refused to move out of the market. The Chairman of the market,  Muhdeen Ganiyu, fondly called Elewedu, however, told our correspondent that the quit notice was too short but the executive members of all the affected markers would meet after the demolition exercise. “The quit notice was too short. All executive members of all the affected markers will soon meet. So, I cannot say anything for now,” he stated. When contacted, the Commissioner for Lands, Housing and Urban Development, Williams Akin-Funmilayo,  confirmed the ongoing demolition exercise. He said, “The State Governor, Seyi Makinde, had gone ther
Post a Comment

FAAC MEETING: THE FG, STATES AND LGCs SHARE N736.782 BILLION FOR THE MONTH OF OCTOBER 2022.(PHOTO).#PRESS RELEASE.

-




FAAC MEETING

FEDERAL MINISTRY OF FINANCE, BUDGET AND NATIONAL PLANNING.

PRESS RELEASE 


THE FG, STATES AND LGCs SHARE N736.782 BILLION FOR THE MONTH OF October 2022.



The Federation Account Allocation Committee (FAAC), at its Meeting shared a total sum of N736.782 billion to the three tiers of government, as Federation Allocation for the month of October, 2022.

From this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Exchange Gain and augmentation from Non Oil Revenue, the Federal Government received N293.955 billion, the States received N239.512 billion, the Local Government Councils got N177.086 billion, while the Oil producing states received N26.228 billion as derivation, (13% of Mineral Revenue).

The Communiqué 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 October 2022 was N213.283 billion which was an increase distributed in the preceding month. The distribution is as follows; Federal Government got N31.992 billion, the States received N106.642 billion, Local Government Councils got N74.649 billion.

Accordingly,  the Gross Statutory Revenue of N417.724 billion distributed was lower than the sum received in the previous month, from which the Federal Government was allocated the sum of N206.576 billion, States got N104.778 billion, LGCs got N80.779 billion, and Oil Derivation (13% Mineral Revenue) got N25.591 billion.

Also, N70 billion Augmentation was distributed to the three (3) tiers of government as follows; the Federal Government received N36.876 billion, States got N18.704 billion, Local Government Councils received N14.420 billion.

In addition, another extra N30 billion Augmentation from Non Oil Revenue was distributed as follows; Federal Government received N15.804 billion, the States got N8.016 billion, while the Local Government Councils received N6.180 billion.

The Communiqué further disclosed that, the sum of N5.775 billion from Exchange Gain was shared thus: Federal Government received N2.707 billion, States got N1.373 billion,  Local Government Councils received N1.058 billion and Derivation (13% of Mineral Revenue)  got N0.637 billion.

It also revealed that Oil and Gas Royalties, Petroleum Profit Tax (PPT) and Import Duty recorded considerable decreases, while Value Added Tax (VAT), and Companies Income Tax (CIT) increased significantly, and Excise Duty increased marginally.

According to the Communiqué, the total revenue distributable for the current month of October was drawn from Statutory Revenue of N417.724 billion, Value Added Tax (VAT) of N213.283 billion, Exchange Gain of N5.775 billion, and N100 billion Augmentation from Non Oil Revenue, bringing the total distributable for the month to N736.782 billion.

However, the balance in the Excess Crude Account (ECA) as at 23rd November, 2022 stands at $472,513.64

Signed:
Phil Abiamuwe-Mowete
D (Information/Press)
Wednesday,  November 23rd, 2022


 

Comments

Post a Comment

Popular posts from this blog

ACTOR BABA IJESHA APPEALS FIVE-YEAR JAIL SENTENCE FOR SEXUAL ASSAULT. (PHOTO).

-
Image
 Actor Baba Ijesha appeals five-year jail sentence for sexual assault Nollywood actor Olanrewaju James, known as Baba Ijesha, has filed an appeal against his conviction for the sexual assault of a minor. He has requested the Court of Appeal, Lagos Division, to overturn the ruling of the Lagos State High Court, which sentenced him to five years in prison. The conviction was handed down by Justice Oluwatoyin Taiwo (retd.) of the Ikeja Domestic Violence and Sexual Offences Court on July 14, 2022 to Baba Ijesha. Baba Ijesha through his counsel Kayode Olabiran on Tuesday, told the appeal court that his client was set up and that he acted according to a script that he was invited to act on by his colleague. “The Appellant was set up. The Appellant is an actor. He acted in a script that he was invited to act by his colleague (PW1), Damilola Adekoya,” he said. The Director of Public Prosecution, Dr Babajide Martins, urged the court to dismiss the appeal for lacking in merit and also a misconce
Read more

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma Automobil
Read more

PUNISH MY ABUSERS WITHIN 48 HOURS OR FACE LAWSUIT- STUDENT BULLIED BY HER CLASSMATES THREATEN SCHOOL AUTHORITIES. (PHOTO).

-
Image
 Punish my abusers within 48 hours or face lawsuit - Student bullied by her classmates threaten school authorities The bullied student of British Lead International School, Miss. Namtira Bwala has threatened to file a lawsuit against the school authorities if her abusers are not punished within 48 hours. In a letter drafted by her lawyers, Deji Adeyanju and Co, Namtira asked the school authorities to immediately investigate and pronounce the stiffest punishments in the student’s rule book on Ms.Maryam Hassan, Miss Faliya, and nine other students who bullied her. Namtira said if the school authorities fail to sanction the student bullies within 48 hours of the receipt of the letter, she would seek immediate and severe legal redress against the school. The letter reads “We are Solicitors to Miss. Namtira Bwala (acting through her next friend), hereinafter referred to as our client, on whose instruction we act. Our client and several other parents in Lead British International School have
Read more