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FG, States, LGAs Share N676.407bn In July

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FG, States, LGAs Share N676.407bn In July Pointloaded

The Federation Accounts Allocation Committee (FAAC). Wednesday, August 19,  at its virtual meeting chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa- Dutse, shared to the three tiers of government, a total sum of  N676.407 billion as federation allocation for the month of July, 2020.

According to the FAAC report, gross statutory revenue of N543.788 billion was received for July 2020, which is higher than the N524.526 billion received in the previous month by N19.262 billion.

The gross revenue available from the Value Added Tax (VAT) was N132.619 billion as against N128.826 billion available in the preceding month, resulting in an increase of N3.793 billion.

More so, from the total distributable revenue of N676.407 billion;  the Federal Government received N273.189 billion, the State Governments received N190.849 billion and the Local Government Councils received N142.761 billion.

The Oil Producing States received N42.851 billion as 13 per cent derivation revenue, while cost of collection and transfers to relevant agencies  collectively had allocation of N26.757 billion.

The Federal Government received N254.688 billion from the gross statutory revenue of N543.788 billion;  the State Governments received N129.181 billion and the Local Government Councils received N99.593 billion.  N42.851 billion was given to the relevant States as 13 per cent derivation revenue and N17.474 billion was the collective total for cost of revenue collection by revenue agencies.

The Federal Government received N18.500 billion from the Value Added Tax (VAT) revenue of N132.619 billion. The State Governments received N61.668 billion, the Local Government Councils received N43.168 billion, while cost of revenue collection and transfers collectively had a revenue allocation of N9.283 billion.

The report further stated that in July 2020, oil and gas royalty, Petroleum Profit Tax (PPT) and Value Added Tax (VAT) increased considerably while Companies Income Tax (CIT), Import and Excise Duty recorded a decline.

The report also revealed that the balance in the Excess Crude Account (ECA) as at August 19  was $72.408 million.

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Rakib Idris is a scientist, blogger, entrepreneur, web designer, socioeconomic and political commentator. He loves writing quality contents for readers and presenting to them happenings around the world promptly as they occur. Thank you for visiting pointloaded.com , •••• For Advert Placement Call/WhatsApp: 09054011337 or send an E-mail to info@pointloaded.com

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Ramadan 2021: Sultan Asks Nigerian Muslims To Commence Fasting

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Ramadan 2021: Sultan Asks Nigerian Muslims To Commence Fasting Pointloaded

Following the sighting of the moon, this year’s Ramadan starts Tuesday, April 13th 2021, the Sultan of Sokoto, Alhaji Sa’ad Abubakar, announced Monday.

Alhaji Abubakar, who is the president of the Nigerian Supreme Council for Islamic Affairs (NSCIA), said this in an announcement on NTA live broadcast.

He urged all Muslims to use the occasion of the holy month to pray fervently for the country and indulge in acts of charity so as to benefit maximally this month.

The NSCIA on Monday had issued a guideline enjoining the Ummah to practice social distancing during the 1442AH Ramadan.

“All COVID-19 protocols should be observed. I’tikaf should still be put on hold while strict observance of all COVID19 protocols including avoiding lengthy or crowded sessions should be observed,” it stated.

Ramadan is the ninth lunar month of the Islamic calendar seen as sacred by Muslims during which they refrain from eating, drinking and sexual activities from dawn to dusk for 29 or 30 days — depending on when a new crescent is slighted.

The sighting of this new moon marks the beginning of another month, Shawwal, and the celebration of Islamic festival, Eid-l-fitr.

The Ramadan ritual is observed to attain a spiritual bond with God, as contained in Qur’an 2:183: “Oh you who believe! Fasting is prescribed to you as it was prescribed to those before you, that you may learn piety and righteousness.”

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Benue Crisis: Expose Those Who Killed Soldiers, Return Army Weapons – Ortom Urges Communities

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Benue Crisis: Expose Those Who Killed Soldiers, Return Army Weapons – Ortom Urges Communities Pointloaded

The Benue State Government has urged community leaders to expose those who carried out an unprovoked attack on Nigerian Army troops, leading to the death of an officer and 10 other soldiers.

In a statement on Friday, Governor Ortom while addressing the recent crisis between communities in Konshisha and Oju Local Government Areas, called for restraint on all sides including the military.

Ortom noted in his communique that he has already directed leaders of the affected areas to ensure that the weapons the “bandits” took away from the military personnel deployed to bring peace between the warring communities are returned without delay.

Earlier on, the army had reported that its troops came under attack while on a routine operational task, it was not clear who the attackers were at the time.

The military however asserted that the troops comprising one officer and ten soldiers were initially declared missing which prompted the deployment of a joint search and rescue team comprising NA troops and personnel of Operation Whirl Stroke.

The search and rescue team, unfortunately, found all the missing troops dead in Konshisha LGA of Benue State. While the bodies of the slain troops were evacuated immediately.

According to the army, efforts were still ongoing to track down the perpetrators of the heinous crime with a view to bringing them to justice.

In his reaction, Governor Ortom urged members of the affected communities to expose perpetrators of the unprovoked attacks on the military, stating that such an act is condemnable and also capable of jeopardizing the efforts Government has made to guarantee the return of peace to the area.

The governor disclosed that in an effort to find a solution to the crisis, he set up a Boundary Committee headed by the Deputy Governor, Engineer Benson Abounu to resolve the land dispute in collaboration with the National Boundary Commission.

The Committee had fixed a date for the demarcation of the area in contention when renewed violence broke out between the Bonta Community of Konshisha Local Government Area and Okpute Community of Oju Local Government Area.

Ortom assured the people that his administration is determined to see the end of the crisis and will support security agencies to fish out those fomenting trouble.

He, however, urged the military to avoid civilian casualties and protect law abiding people while efforts are on to recover their missing weapons.

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Queen Elizabeth II’s Husband Prince Philip Dies At 99

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Queen Elizabeth II’s Husband Prince Philip Dies At 99 Pointloaded

Queen Elizabeth II’s husband Prince Philip has died at age 99, according to a statement by Buckingham Palace.

Prince Philip was the longest-serving royal consort in British history after getting married to Princess Elizabeth in 1947, five years before she became Queen.

The Palace announced the death of the late monarch via its official Twitter handle on Friday afternoon, April 9, 2021.

“It is with deep sorrow that Her Majesty The Queen announces the death of her beloved husband, His Royal Highness The Prince Philip, Duke of Edinburgh,” it said in a statement.

“His Royal Highness passed away peacefully this morning at Windsor Castle.

“The Royal Family join with people around the world in mourning his loss.”

The palace added that further announcements would be made “in due course”.

Fears over the health of the Duke of Edinburgh, as he was formally known, had been heightened after he recently spent a month in hospital for treatment.

He left the hospital on March 16 following what was described as a successful procedure for a pre-existing condition and treatment for an unspecified infection.

He was first admitted on February 16 on the advice of his doctor after he complained of feeling unwell.

Philip had returned to Windsor Castle, west of London, where he had been isolating with the queen — Britain’s longest-serving monarch — since the start of the coronavirus pandemic last year.

He was due to turn 100 in June.

The news of his death saw television channels interrupt regular programmes and start special coverage marking his life.

The BBC announced his death and played the national anthem, “God Save the Queen”.

Philip had increasingly struggled with his health in recent years and had retired from public life.

In the run-up to Christmas 2011, Philip was taken to hospital by helicopter after suffering chest pains.

The Greek-born former naval officer was then treated for a blocked coronary artery and had a stent fitted

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