Politics
Breakdown Of Nigerias Revenue Generated And Amount Allocated To FG, States And Local Government For The Month Of July

Published
8 months agoon
By
Ekwutos Blog
The Federation Account Allocation Committee (FAAC), at its August 2024 meeting chaired by the Honourable
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, shared a total sum of N1,358.075 Trillion to the three tiers of government as Federation Allocation for the month of July, 2024 from a gross total of N2,613.791Trillion.
From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference (ED), and N13.647 Billion from Solid Mineral Revenue, the Federal Government received N431.079 Billion, the States received N473.477 Billion, the Local Government Councils got N343.703 Billion, while the Oil Producing States received N109.816 Billion as Derivation, (13% of Mineral Revenue).
The sum of N99.756 Billion was given for the cost of collection, while N109.816 Billion was allocated for Transfers Intervention and Refunds.
The Communique 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 the month of July 2024, was N625.329 Billion as against N562.685 Billion distributed in the preceding month, resulting in an increase of N62.644 Billion.
From that amount, the sum of N25.013 Billion was allocated for the cost of collection and the sum of N18.009 Billion given for Transfers, Intervention and Refunds. The remaining sum of N582.307 Billion was distributed to the three tiers of government, of which the Federal Government got N87.346 Billion, the States received N291.154 Billion and Local Government Councils got N203.807 Billion.
Accordingly, the Gross Statutory Revenue of N1,373.503 Trillion received for the month was lower than the sum of N1,432.667 Billion received in the previous month by N45.517 Billion. From the stated amount, the sum of N73.959 Billion was allocated for the cost of collection and a total sum of N1,137.951Trillion for Transfers, Intervention and Refunds.
The remaining balance of N161.593 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N58.545 Billion, States received N29.695 Billion, the sum of N22.894 Billion was allocated to LGCs and N50.459 Billion was given to Derivation Revenue (13% Mineral producing States).
Also, the sum of N19.602 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.823 Billion, States got N9.409 Billion, Local Government Councils received N6.586 Billion, while N0.784 Billion was allocated for Cost of Collection.
The Communique also disclosed the sum of N581.710 Billion from Exchange Difference, which was shared as follows: Federal Government received N276.110 Billion, States got N140.047 Billion, the sum of N107.970 Billion was allocated to Local Government Councils, N57.583 Billion was given for Derivation (13% of Mineral Revenue).
It further disclosed the sum of N13.647 Billion from Solid Mineral Revenue, which was shared as follows: Federal Government got N6.255 Billion, the States received the sum of N3.172 Billion, Local Government Councils received N2.446, while the sum of N1.774 Billion was allocated to Deviation (13% of Mineral Revenue).
Oil and Gas Royalty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), Import Duty, Electronic Money Transfer Levy (EMTL) and External Tarrif levies (CET) increased significantly, while Companies Income Tax (CIT) recorded a decrease. Excise Duties increased only marginally.
According to the Communique, the total revenue distributable for the current month of July 2024, was drawn from Statutory Revenue of N161.593 Billion, Value Added Tax (VAT) of N528.307 Billion, N18.818 Billion from Electronic Money Transfer Levy (EMTL), N581.710 Billion from Exchange Difference and the sum of N13.647 Billion, bringing the total distributable amount for the month to N1,358.075 Trillion.
The balance in the Excess Crude Account (ECA) as at August 2024 stands at $473,754.57.
While welcoming the Federation Account Allocation Committee the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun, commended them for their show of support to the President Bola Ahmed Tinubu-led Administration especially during the recent protest. He urged them to continue to support the efforts of the Federal Government in its determination to transform Nigeria’s economy for the future of our nation.
HM Edun further commended President Bola Ahmed Tinubu for
signing the National Minimum Wage Act into law, adding that its implementation will be of immerse benefit to all Nigerians
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Politics
Biafra agitators ready to dialogue with Nigerian Govt – Ohanaeze’s Isiguzoro

Published
4 hours agoon
April 29, 2025By
Ekwutos Blog
Apex lgbo socio-cultural organization, Ohanaeze Ndigb has disclosed that Biafra agitators are ready to dialogue with the federal government on the way forward.
In a statement on Tuesday by Ohanaeze’s factional Deputy President General, Mazi Okechukwu Isiguzoro, the apex body noted that the dialogue has the potential to usher in monumental changes, including the release of all prisoners of conscience, notably Nnamdi Kanu, the reopening of the Eastern Economic Corridor, and an unequivocal end to violence disguised as agitation.
“It is our earnest hope that those misled into cycles of violence and armed struggle will choose to abandon their hostile actions, paving the way for a peaceful and prosperous Southeast.
“In a significant and historic turning point for the geopolitics of Nigeria, the Ohanaeze Ndigbo, the apex sociocultural organisation representing the Igbo people, formally acknowledges the courageous decision of the Nonviolent Pro-Biafra Agitators to extend a hand of peace towards the Federal Government of Nigeria.
“Following twelve years of relentless diplomatic pressure from the international community and numerous United Nations-affiliated peace groups, urging these advocates for self-determination to embrace peaceful negotiations, this moment is both profound and transformative.”
Ohanaeze proclaimed that the acceptance by the non-violent Pro-Biafra agitators to offer a dove of peace and a hand of friendship to the federal government was a pivotal moment in Nigeria’s historical timeline.
Isiguzoro said, “this forthcoming dialogue is anticipated to mirror the earlier discussions held at Aburi, Ghana, now reborn as the ‘Abuja Accord’.
“This initiative aims explicitly to address and resolve the long-standing grievances that have birthed the Biafra agitation since the cessation of hostilities in the Nigerian Civil War in 1970.
“The non-violent Pro-Biafra agitators have extended an olive branch to President Bola Ahmed Tinubu’s administration, inviting the federal government to engage in a constructive dialogue over the nagging ‘Igbo Question’.”
He said the dialogue sought to confront the unresolved issues stemming from the unimplemented policies of reconciliation, reconstruction, and rehabilitation envisioned by General Yakubu Gowon following the war.
Politics
APC will capture 3 remaining S’South states – Gov Otu

Published
6 hours agoon
April 29, 2025By
Ekwutos Blog
Leader of the national ruling party in South South geopolitical zone in Nigeria, Governor Bassey Otu of Cross River State has assured that APC will surely capture the remaining three states governed by the opposition, Peoples Democratic Party, PDP.
Governor Otu emphasized that Cross River, which for years stood as the lone APC-governed state in the South-South, now proudly shares the progressive banner with Delta and Edo States.
Recall that yesterday the Vice President Shettima Kashim, national chairman of APC, Dr. Abdullahi Ganduje, and Gov Otu formally received Delta State Governor, Sheriff Oborevwori, into the APC family.
The three states ruled by PDP presently include Akwa Ibom, Bayelsa and Rivers State, although now under emergency rule of a sole administrator for six months following suspension of Governor Sim Fubara.
Otu, who spoke on his return to Calabar, the Cross River capital, said: “An increasing number of South-South states under APC governance is a dream realized.”
Governor Otu noted that when the other three states are finally captured, it will set the stage for deeper regional collaboration, accelerated economic development, and greater political stability.
Otu, who is also the Vice Chairman of the South-South Governors’ Forum, urged Governor Oborevwori, other political stalwarts, and their supporters who have now joined the APC to bring their wealth of experience and grassroots mobilization strength to bear in advancing the collective quest for a flourishing South-South and a renewed Nigeria.
Governor Otu assured that together in APC, “the six states shall chart a new course of greatness for the region and our nation.”
Politics
Bauchi Gov Bala Mohammed appoints 168 new political aides

Published
7 hours agoon
April 29, 2025By
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Bauchi State Governor, Bala Mohammed, has approved the appointment of 168 political aides in a bid to strengthen the machinery of government and enhance service delivery across the state.
In a statement issued Tuesday, the Governor’s Media Adviser, Mukhtar Gidado, explained that the appointments cover various roles, including Principal Special Assistants, Senior Special Assistants, Special Assistants, and Personal Assistants.
According to the breakdown, five individuals were appointed as Principal Special Assistants on Political and Community Relations, with one designated for Pension Matters.
The list also includes one Senior Special Assistant on Labour Matters, 60 Special Assistants on Political and Community Relations, and 63 Personal Assistants in the same category.
Gidado stated that the move is part of the administration’s broader efforts to promote inclusion and reflect the diverse interests and aspirations of Bauchi residents.
He noted that most of the appointees are experienced former political officeholders at various levels, selected based on merit, political background, and leadership ability.
Governor Mohammed congratulated the new aides urging them to approach their duties with dedication, loyalty, and a commitment to people-oriented governance.
He expressed confidence that the appointments would help consolidate on existing achievements and drive sustainable development in the state.

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