Connect with us

news

FAAC: FG, States, LGs Share N647.39bn – Adeosun

Published

on

FAAC: FG, States, LGs Share N647.39bn – Adeosun

Workers at the three tiers of Government are to receive their salaries for this month before the Easter break as the Federal, State and Local Governments shared the sum of N647.39 billion from the Federation Account.

The money was the revenue collection for the month of February 2018 which was approved at the Federation Account Allocation Committee (FAAC) meeting convened and chaired by the minister of finance Wednesday.

The unusual FAAC meeting was attended by, a representative of the Permanent Secretary and Director of Home Finance in the Federal Ministry of Finance, Mrs. Olubunmi Siyanbola; Accountant General of the Federation, Mr. Ahmed Idris; Chairman of Finance Commissioners’ Forum and Adamawa State Commissioner for Finance, Mr. Mahmoud Yunusa; States’ Commissioners of Finance and Accountant-Generals, and representatives of revenue generating agencies.

Adeosun, who spoke to journalists at the end of the Committee’s emergency meeting, said she personally engaged states’ governors in several meetings the previous night (Tuesday) to find a way around the stalemate.

She then revealed that the sum of N647.39 billion distributed to the three tiers of government was N11.836 billion higher than the N635.554 billion shared in the previous month.

Statutory revenue accounted for N557.943 billion of the total revenue distributed for the month of February while Value Added Tax (VAT) accounted for the balance of N89.447 billion.

The total revenue distribution in the previous month was made up of statutory revenue of N538.908 billion and Value Added Tax of N96.646 billion.

On the States’ dispute with the revenue paid by the Nigerian National Petroleum Corporation (NNPC) into the Federation Account, the Minister said the FAAC would reconcile the revenue figures with the top management of the Corporation led by the Group Managing Director, Mr. Maikanti Baru.

“The NNPC is a major channel of our mineral revenue. Some issues have been raised by the States on the revenue paid into the Federation Account by NNPC.

“These are being looked into and within the next 48 hours, we will hold a joint meeting with the NNPC Group Managing Director to address the concerns of the States. The reconciliation of the revenue figures is part of a healthy process to ensure transparency and accountability,” Adeosun said.

The Chairman of Finance Commissioners’ Forum, Mahmoud Yenusa, explained that the reconvening of the meeting had become necessary to enable States pay workers their salaries before the Easter break.

“The account submitted by the NNPC is not acceptable to the States but we are willing to jointly reconcile the revenue figure with the leadership of NNPC.

“We agreed last night to reconvene the meeting for the benefits of Nigerian workers at all tiers of government, to enable them receive their salaries,” the Adamawa State Commissioner of Finance said.

Sounding a note of warning, Mahmoud Yunusa stated that the states “won’t take this anymore. NNPC will have to sit up and do its job. We are not taking this anymore. We would not come here, spend days without holding the meeting. So in the spirit of Easter, we would take this account, go home with it;  pay salary and come back to meet NNPC to  pay us our balance. We have to find out wherever the error is”, he said.

Immediately after the meeting, the Accountant General of Federation signed the mandates for the Central Bank of Nigeria (CBN) to pay the approved revenue allocation into the accounts of the Federal, State and Local Governments.

Giving further breakdown of the revenue distribution, the Finance Minister said the Federal Government received N257.927 billion of the net statutory revenue as against the N249.366 billion received in the previous month, while the State and Local Governments’ share of the statutory revenue was N130.824 billion and N100.86 billion, respectively.

The States and Local Governments had last month got N126.482 billion and N97.512 billion, respectively.

The 13% derivation accounted for the balance of the statutory revenue of N57.356 billion.

The 36 States received Value Added Tax of N42.935 billion compared with N46.39 billion received in the previous month, while the Federal and Local Governments received VAT of N12.88 billion and N30.054 billion, respectively.

Both Federal and Local Governments had received N13.917 billion and N32.473 billion, respectively, from VAT in February 2018.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

Ekiti APC: Controversy Trail Cyril Fasuyi’s Second-Term Ticket as Fayemi, Oyebanji Alliance Sparks Debate

Published

on

There are growing political discussions within the Ekiti State chapter of the All Progressives Congress (APC) following allegations surrounding the emergence of Senator Cyril Fasuyi for a second term ticket.

Some party members and political observers in the state have alleged that Governor Biodun Oyebanji and former Governor Dr. John Kayode Fayemi remain politically aligned despite public perceptions suggesting otherwise. According to the claims, the relationship between Governor Oyebanji and Fayemi remains cordial and influential in the state’s political structure.

Critics further alleged that Senator Cyril Fasuyi was advised to reconcile with Fayemi in order to secure support for his return bid, a move they claim eventually strengthened his chances of getting the ticket.

The development has reportedly generated concerns among some APC stakeholders, who believe certain political interests are working behind the scenes to shape the future direction of Ekiti politics ahead of upcoming political contests.

The allegations also claim that internal power struggles within the party may affect relationships with key figures at the national level, particularly supporters loyal to President Bola Ahmed Tinubu.

However, no official statement has been issued by Governor Oyebanji, Dr. Fayemi, or Senator Fasuyi regarding the allegations.

Continue Reading

news

Drama in Rivers APC as Fubara and Tonye Cole Step Down from Governorship Primary

Published

on

Rivers State Governor, Siminalayi Fubara, has announced his withdrawal from the All Progressives Congress governorship primary election in the state.

Fubara made this known in a statement personally signed on Wednesday, saying he would support whoever emerges as the party’s candidate, The Nations reported.

The governor said his decision followed extensive consultations with his family, friends, and political associates.

“After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC governorship primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of our great party,” Fubara said.

The development comes amid ongoing political realignments ahead of the 2027 general elections in Rivers State.

Fubara said although the decision was difficult, he remained committed to supporting whoever would emerge as the APC governorship candidate.

According to him, leadership demands sacrifice and personal ambition must sometimes give way to the collective interest of the people.

“Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest,” he said.

Meanwhile, the embattled governor expressed appreciation to his supporters for their loyalty, prayers and sacrifices throughout the political process, acknowledging that many would feel disappointed by his withdrawal.

He said his silence in recent weeks was “deliberate and strategic,” adding that it was guided by the higher interest of the state.

Newsthumb had earlier reported that APC chieftain and 2027 governorship aspirant in Rivers State, Tonye Cole, also announced his withdrawal from the race, saying his decision was, among other reasons, in the interest of the party’s unity.

Fubara thanks Tinubu, dismisses cowardice
The governor hinted at undisclosed pressures surrounding the political process, saying: “As our elders say, not everything a hunter sees in the forest is spoken of in the marketplace.”

He added that some truths were best kept quietly “not out of fear, but out of wisdom and restraint for the sake of peace and a greater purpose.”

Fubara thanked the APC leadership for the opportunity given to him during the process and also expressed gratitude to President Bola Tinubu for his support and encouragement.

He urged party faithful to remain united and committed to the APC, describing the party as their “collective home.”

The governor, however, insisted that his withdrawal should not be interpreted as an act of weakness or surrender.

“I stepped aside not out of weakness, fear, or surrender, but out of conviction and sacrifice so that Rivers State may move forward in peace and unity,” he said.

Fubara also pledged to continue serving the people of Rivers State until the end of his tenure.

He further stated, “Leadership is ultimately about sacrifice. There comes a time when personal ambition must yield to the greater good of the people. Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest.

“To my supporters who stood firmly with me throughout this journey who gave their time, resources, prayers, and unwavering hope, I offer my deepest gratitude. I understand the disappointment, the anger, and the pain many of you may feel.

“Much has indeed been invested and much sacrificed along the way. But please know that your loyalty and trust were never in vain. My silence over this period was deliberate and strategic, guided always by the higher interest of our state and our people.”

Our correspondence earlier reported that Fubara rose politically under the administration of his predecessor and political godfather, Nyesom Wike, serving as Accountant-General of Rivers State before emerging as the PDP governorship candidate and winning the 2023 election with Wike’s backing.

Shortly after assuming office, however, the relationship between both men collapsed over control of the state’s political structure, appointments and finances, leading to a bitter power struggle involving the Rivers State House of Assembly led by Speaker Martin Amaewhule, who remained loyal to Wike.

The crisis escalated when 27 lawmakers attempted moves seen as targeting Fubara, while the governor’s camp questioned their legitimacy after alleged defections.

The Assembly complex was later demolished and governance became paralysed as both camps traded court actions and political attacks.

In March 2025, President Bola Tinubu declared a state of emergency in Rivers State, suspending Fubara, his deputy and all lawmakers for six months, citing political instability and threats to governance and oil infrastructure.

During the suspension, retired naval chief Ibok-Ete Ibas was appointed sole administrator.

Fubara was later reinstated after political negotiations reportedly brokered by Tinubu, with conditions said to include working with the Amaewhule-led Assembly, maintaining peace with Wike’s camp and shelving immediate political confrontation ahead of 2027, although some reported terms — including speculation about reelection concessions — remained unofficial.

The House of Assembly saga remained central to the crisis, with repeated disputes over budget presentation, impeachment threats and Supreme Court rulings affirming the Amaewhule faction as the recognised Assembly leadership.

Continue Reading

news

APC Primary Crisis Deepens in Osun as Aspirants Accuse Party Leadership of Imposition, Manipulation, and Delegate Exclusion

Published

on

The All Progressives Congress (APC) primary election held on Saturday, May 16, 2026, in Ife Federal Constituency has sparked widespread controversy, with aggrieved aspirants and party stakeholders alleging massive irregularities and manipulation during the exercise.

The aspirants accused certain party leaders of compromising the credibility of the primary process, alleging that the exercise was hijacked by desperate political actors allegedly working under the influence of the Osun State APC Chairman, Hon. Tajudeen Lawal, popularly known as “Sooko.”

According to reports gathered from several wards and local government areas within the constituency, many party members and stakeholders were allegedly denied the opportunity to participate in what was expected to be a transparent, free, and fair election. The aggrieved members described the exercise as a deliberate attempt to impose a preferred candidate against the collective will of delegates and party faithful.

Several stakeholders further alleged widespread intimidation, manipulation, and exclusion of recognized party members during the exercise, a development they said has generated tension and dissatisfaction within the party.

The aggrieved aspirants reportedly described the primary as a “scam,” alleging that results and figures were arbitrarily allocated to candidates by the party leadership.

They also alleged that incidents of violence and thuggery characterized parts of the exercise across Ife Federal Constituency, claiming that such developments have raised concerns over fairness, transparency, and internal democracy within the Osun APC.

Some party members further recalled a similar controversy during the May 27, 2022, APC primary election in the constituency, alleging that the same pattern of irregularities occurred during that exercise.

Meanwhile, the aspirants maintained that the outcome of the disputed primary election has yet to receive official recognition from the National Secretariat of the APC, as several petitions and complaints have reportedly been submitted over the conduct of the exercise.

They also noted that the Independent National Electoral Commission (INEC) has not officially validated the disputed process, thereby raising further questions regarding the legitimacy and credibility of the primary election.

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved