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Alleged Fraud: “Will the masses finally reap the dividends of democracy, particularly at the state and local government levels?” questions arise as N1.1 trillion is shared among tiers of government from Federation Account revenue, yet, analysis suggests otherwise.
Allocation highest ever
N500b kept in savings
Yusuf: let gains of reform reflect on citizens
It was a huge “payday” for the tiers of government yesterday.
The federal, state and local governments shared a handsome N1.127 trillion from the N1.674 trillion collectable revenue in December 2023.
Over N500 billion was saved to take care of future needs.
It is the second consecutive month that the revenue shared from the central purse crossed the N1 trillion mark.
The first time it did was in September 2023.
From the N655.932 billion shared in May, the month that President Bola Ahmed Tinubu took office and pronounced that the “petrol subsidy is gone,” the revenue has been going up steadily (SEE TABLE).
The staggering figure, made available after the Federation Account Allocation Committee (FAAC) meeting yesterday, is a reflection of the nation’s economic upward movement, analysts said.
According to them, it also presents an opportunity for the government at all levels to ensure growth and development.
Economists last night said with increased revenue, the people should begin to get the dividends of democracy, especially at the state and local governments.
The agreement by FAAC members to allow N500 billion in savings is indicative of financial prudence, a member said.
Breaking down the revenue accruals, according to a statement by the FAAC, Companies Income Tax (CIT), Excise Duty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), and Electronic Money Transfer Levy (EMTL) increased significantly.
But there is a slight decline in oil and gas royalties, import duty and CET levies.
Despite the remarkable revenue gains, the balance in the Excess Crude Account (ECA) remained static at $473,754.57.
The surplus in the federation account serves as a cushion for any unforeseen economic challenges that may arise.
A closer look at the activities surrounding the Federation Account has shown that N875.382 billion was received as gross statutory revenue for December 2023, which was slightly lower than the N882.560 billion received in November.
In terms of the Value Added Tax (VAT), December 2023 saw a significant increase compared to the previous month.
The gross revenue available from VAT stood at N492.506 billion, which is a N132.051 billion increase from November.
This surge in VAT revenue can be attributed to the improvement in economic activities and increased consumer spending during the festive season.
Further analysis of the revenue distribution revealed that the Federal Government got N383.872 billion from the total distributable revenue; states received N396.693 billion and the local government areas received N288.928 billion.
State collecting derivation funds from mineral revenue shared N57.915 billion, representing 13 per cent of the revenue.
Regarding distributable statutory revenue, the Federal Government received N173.729 billion, state governments, N88.118 billion and councils, N67.935 billion from the N363.188 billion generated.
From the distributable VAT revenue of N458.622 billion, the Federal Government received N68.793 billion, state governments received N229.311 billion, and local government councils received N160.518 billion.
The Electronic Money Transfer Levy (EMTL) of N17.855 billion was allocated as follows: the Federal Government received N2.678 billion, states got N8.928 billion and local government councils received N6.249 billion.
However, the stagnant Excess Crude Account raises concern about the need for strategic investment of surplus funds into critical sectors.
The slight decline in statutory revenue and continued dependence on oil and gas require further attention.
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Easter : Senator Araraume urges Nigerians to embrace sacrifice, renewed hope, prays for Tinubu’s leadership
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..…Says Christ’s resurrection symbolises Nigeria’s rising from challenges to glory
,,,,Commends President Tinubu’s bold reforms, calls for continued prayers
As Christians across Nigeria and the world celebrate Easter, a chieftain of the All Progressives Congress (APC), Senator Ifeanyi Godwin Araraume, has called on Nigerians to embrace the virtues of sacrifice, forgiveness, and renewed hope which the resurrection of Jesus Christ symbolises.
In his Easter message, which he personally signed, the former governorship candidate of Imo State reflected on the profound significance of the season, describing Easter as a divine testament that no night lasts forever, and that after every crucifixion comes a glorious resurrection.
“Easter is not merely a festival; it is a spiritual declaration that darkness does not have the final word. As Christ rose triumphantly on the third day, I believe Nigeria, too, is rising from every challenge to meet her God-ordained destiny,” Araraume stated.
The APC chieftain used the occasion to offer fervent prayers for President Bola Ahmed Tinubu, whom he described as a courageous leader steering the ship of state through turbulent but necessary waters.
“I pray that the God who raised Christ from the dead will raise every help that President Tinubu needs to succeed. I pray for divine wisdom, physical strength, and uncommon protection over his life. Let no arrow of the wicked find its mark in his camp. May his labours for our nation yield fruits that generations yet unborn will celebrate,” Araraume prayed.
He further commended President Tinubu for his bold and far-reaching reforms, acknowledging that while the policies may demand present sacrifice from citizens, the long-term dividends will be peace, stability, and shared prosperity.
“Mr. President has shown that he has the heart of a reformer and the backbone of a statesman. These are not easy times, but great nations are forged in the furnace of difficult decisions. I call on all Nigerians, regardless of party or creed, to support this administration with patience and prayer,” the Senator added.
Senator Araraume also urged Nigerians to show love to one another, especially to the less privileged, the grieving, and the displaced, noting that the true essence of Easter is found in selfless giving and communal solidarity.
“Let us visit the orphanage, feed the hungry, and extend a hand to our neighbour in distress. That is the gospel in action. That is the Nigeria we must build together,” he said.
He wished all Christians a peaceful, joyous, and spiritually fulfilling Easter celebration.
Signed:
Senator Ifeanyi Godwin Araraume
Chieftain, All Progressives Congress (APC)
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Update : Tinubu Meets Plateau Victims, Cites Security Challenges, logistics, Announces 5,000 AI Surveillance Cameras, Says Onanuga
…says visit aimed at lasting peace, not symbolism
The Presidency has explained why President Bola Ahmed Tinubu addressed victims of the recent Plateau State attacks at the Yakubu Gowon Airport in Jos, citing logistical constraints and urgent security considerations that shaped the structure of his visit.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President’s decision followed a series of developments, including an extended bilateral meeting with Chadian President Mahamat Idriss Déby Itno and operational limitations at the Jos airport.
The Presidency said Tinubu had initially scheduled two engagements for Thursday: receiving the Chadian leader and proceeding to Iperu, Ogun State, but altered his itinerary after receiving a briefing from Plateau State Governor Caleb Mutfwang on the scale of the attacks.
“Overnight, the Presidential Villa made arrangements for the visit to Jos, with presidential assets quickly deployed,” the statement said, noting, however, that the Chadian President’s visit could not be postponed due to its strategic importance.
The bilateral meeting, which focused on strengthening regional security cooperation, reportedly ran longer than expected, delaying the President’s departure for Jos.
Upon arrival in Plateau State, further constraints emerged. The Presidency explained that the runway at the Jos airport lacks navigational aids for night operations, making it impossible for the President to travel into the city, about 40 minutes away, and return safely before dusk.
“As a result, state and federal officials agreed to bring representatives of the affected communities to a hall adjoining the airport, enabling the President to meet them promptly while adhering to flight restrictions,” the statement added.
Present at the meeting were top security officials, including the Minister of Defence, the Chief of Army Staff, and the Inspector-General of Police, who had earlier visited Rukuba, identified as the epicentre of the violence.
The President had also deployed a high-level team ahead of his arrival, including his Senior Special Assistant on Community Engagement, to undertake groundwork on security stabilisation and community relations.
Beyond offering condolences, Tinubu used the meeting to engage stakeholders on ending the protracted cycle of violence in Plateau State.
“The visit was not merely symbolic. It was a strategic, high-level engagement aimed at addressing the root causes of the decades-old conflict,” the statement said.
During the interaction, the President listened to victims and community leaders, assuring them of the Federal Government’s commitment to justice and lasting peace.
He also announced plans to deploy 5,000 AI-enabled surveillance cameras across the state to enhance monitoring, improve intelligence gathering, and aid in identifying perpetrators of violence.
Tinubu further invited community leaders to Abuja for expanded consultations aimed at developing sustainable solutions to the recurring crises.
The meeting, which was broadcast live, was described as solemn and reassuring, with the Presidency noting that it helped boost residents’ confidence in government efforts.
“President Tinubu achieved the purpose of his visit, despite attempts in some quarters to ridicule it. He sent a clear message that sustainable peace must be built with the people, not imposed on them,” the statement said.
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JUST IN: First Lady Secures N30.5bn Support from Dangote, NNPC, Governors for Food Bank
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…Private sector, states rally behind national fight against hunger
…Programme targets vulnerable households, children under six
By Bolaji Ogundele, Abuja
Nigeria’s private sector leaders and state governments on Thursday pledged over N30.5 billion in support of the National Community Food Bank Programme, a flagship initiative championed by the First Lady, Senator Oluremi Tinubu, to combat hunger and food insecurity across the country.
The pledges were announced at the official launch of the programme and inauguration of its Board of Trustees, drawing commitments from major corporate organisations, philanthropic foundations, and subnational governments.
Leading the pack, the Aliko Dangote Foundation, represented by its Managing Director and CEO, Zouera Youssoufou, on behalf of Africa’s richest man, Alhaji Aliko Dangote, committed N20 billion in-kind support over five years.
“It is an honour to stand here today on behalf of the organised private sector. This programme directly addresses food insecurity among vulnerable households, particularly children under six.
“Aliko Dangote Foundation will commit N20 billion in-kind support over the next five years on the provision of fortified and nutritious food products”, Youssoufou said.
She urged broader corporate participation, saying, “I would like to call on the entire organised private sector to actively support this programme,” adding that its success would deliver “a Nigeria where no child goes to bed hungry,” in line with “President Bola Ahmed Tinubu’s Renewed Hope Agenda.”
The Nigerian National Petroleum Company (NNPC) Limited also pledged N10 billion over five years, with Sofia Mbakwe representing the Group Executive Officer, Bayo Ojulari.
“This ceremony stands as a powerful testament of purposeful leadership by Her Excellency Senator Oluremi Tinubu,” Mbakwe said.
Highlighting the programme’s framework in partnership with the Bank of Agriculture, she added, “NNPC Limited is committing a starting sum of N10 billion to be disbursed over the five-year period.”
She assured that the company would “leverage our strategic partners and stands ready to work with you to ensure that this program delivers lasting and measurable impact.”
Also lending support, the Sir Emeka Offor Foundation pledged N500 million, announced by its representative, Chidioke James.
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“Today is not just about launching a fund. It is about launching hope. No society can truly prosper while hunger persists.
“We are very proud to stand with the mother of the nation, the First Lady. The founder has asked that I announce the commitment of 500 million.”
At the grassroots level, the Association of Local Governments of Nigeria (ALGON) pledged full institutional support for the programme, describing it as timely and critical.
Represented by Hamisu Mohammed, ALGON said local governments, as “custodian of the community and the masses,” view the initiative as “a signature legacy project.”
“This initiative comes at a critical time for food insecurity and rising cost of living. Local government fully appreciates grassroots-driven solutions,” he said, pledging “cooperation and partnership particularly in rural and underserved communities.”
Similarly, the Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, assured that state governments would provide substantial counterpart funding.
“Across our states, we see the pressure many households face in accessing affordable and nutritious food. More than one third of the children under five are stunted. This points to chronic undernutrition with lasting consequences for fiscal growth and development. This is not only a health issue, it’s a national issue,” he said.
He praised the First Lady’s “personal commitment” to tackling hunger and aligned the initiative with ongoing state-level nutrition interventions.
“The NGF stands ready to work closely with the federal government… I’ll confer with my colleague… we’ll present a counterpart fund that will closely align to what the Federal Government is donating,” he added, referencing the Federal Ministry of Health’s N17 billion pledge.
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