NEWS
FAAC: FG, States, LGs Share N1.424 trn December 2024 Revenue

A total sum of N 1.424 trillion, being Dec. 2024 Federation Account Revenue has been shared to the Federal Government, states, and the Local Government Councils (LGCs).This is according to a statement by Bawa Mokwa,Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF).
Mokwa said that the revenue was shared at the January Federation Account Allocation Committee (FAAC) meeting on Friday in Abuja. Meanwhile, a communiqué from the FAAC meeting said that the N1.424 trillion total revenue comprised statutory revenue of N386.124 billion, and Value Added Tax (VAT) revenue of N604.872 billion.It also comprised Electronic Money Transfer Levy (EMTL) revenue of N31.211 billion and Exchange Difference revenue of N402.714 billion.The communiqué indicated that total gross revenue of N2.310 trillion was available in Dec. 2024.It said that total deduction for cost of collection was N84.780 billion while total transfers, interventions, and refunds were N801.175 billion.“Gross statutory revenue of N1.226 trillion was received for Dec. 2024. This was lower than the sum of N1.827 trillion received in of Nov. 2024 by N600.988 billion.“Gross revenue of N649.561 billion was available from VAT in Dec. 2024. This was higher than the N628.973 billion available in Nov. 2024 by N20.588 billion,” it said.The communiqué said that from the N1.424 trillion total distributable revenue, the Federal Government received the total sum of N451.193 billion, while the state governments received the sum of N498.498 billion.It said that the LGCsreceived N361.754 billion, and a total sum of N113.477 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.“On the N386.124 billion statutory revenue, the Federal Government received N167.690 billion, and the state governments received N85.055 billion.“The LGCs received N65.574 billion, and the sum of N67.806 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.“From the N604.872 billion VAT revenue, the Federal Government received N90.731 billion, the state governments received N302.436 billion and the LGCs received N211.705 billion,” it said.It further said that a total sum of N4.682 billion was received by the Federal Government from the N31.211 billion EMTL.It said that the state governments received N15.605 billion, and the LGCs received N10.924 billion.“From the N402.714 billion Exchange Difference revenue, the communiqué said that the Federal Government received N188.090 billion, and the state governments received N95.402 billion.It said that the LGCs received N73.551 billion, while the sum of N45.671 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.It said that in Dec. 2024, VAT and EMTL increased significantly while Oil and Gas royalty, CET levies, excise duty, import duty, petroleum profit tax and companies income tax decreased considerably.(NANNEWS
PDP Member Retracts Protest Against Matawalle, Alleges State-Sponsored Plot

By David Torough, Abuja
A member of Nigeria’s opposition People’s Democratic Party (PDP) has publicly disavowed his role in a recent protest targeting Bello Matawalle, the country’s Minister of State for Defence, claiming the demonstration was a politically motivated scheme orchestrated by the Zamfara State Government.
Kamilu Ibrahim, who identified himself as an active PDP member and one of the protest’s organisers, issued a statement on Saturday retracting his involvement and apologising to Matawalle. “It’s important to note that I am not an indigene of Zamfara State, and none of the participants come from Zamfara State.”He alleged that the protest was not driven by genuine grievances but was instead sponsored by Zamfara’s PDP-led government under Governor Dauda Lawal Dare to discredit Matawalle, a prominent figure in the rival All Progressives Congress (APC).Ibrahim said Dauda promised us $100 to each protester, and we have over 330 members. He has not kept his promise.”The reason we are begging Matawalle to forgive us is that we found out we were fooled and misled by false information to deceive the public. “We are sorry for any damage we have caused you, Ibrahim told Matawalle.“I believed at the time that our actions were justified,” Ibrahim said. “However, after reviewing the facts and listening to credible reports, I now realise that the allegations against Matawalle are unfounded and politically motivated.”Ibrahim further claimed that the organisers of the protest were not APC members, as reported in some media outlets, but PDP loyalists acting on instructions from the Zamfara State Government. He accused Governor Lawal of orchestrating the campaign to undermine Matawalle for political gain. Ibrahim suggested that Governor Lawal has been avoiding a summons by Nigeria’s National Assembly, fearing that a federal inquiry could expose administrative failures and potentially lead to the declaration of a state of emergency in the state.“Governor Lawal is deliberately avoiding the National Assembly’s invitation,” Ibrahim alleged, citing concerns that an investigation could reveal “the truth” about the state’s security and governance challenges.Ibrahim’s statement casts fresh doubt on the credibility of the allegations against him, framing them as part of a broader political vendetta.In his statement, Ibrahim expressed regret for his role in the protest and sought Matawalle’s forgiveness. “I sincerely apologise to Honourable Bello Matawalle for the role I played,” he said, vowing not to participate in “such deceitful agendas” in the future.NEWS
SON Urges Business Owners to Seek Assistance on Product’s Quality

The Head of Mechanical department of the Standards Organisation of Nigeria (SON), Mr Ijacha Ego, has urged stakeholders, especially, manufacturers to always seek its assistance in the area of quality control for their products.Delivering a lecture titled: “The Impact of SON Activities on the Nation’s Economy Development” at its sensitisation workshop in Asaba on Friday, Mr Ego noted that the main task of SON is to ensure quality of products in the country.
Giving an overview of activities of SON, Ego disclosed the organisation has multiple testing laboratories tor products and urged the stakeholders to get closer to the organisation for quality control of their products and goods. ”Get close to SON, SON is available and willing to support your businesses, ” he emphasised.In his presentation titled: ”Promoting Quality and Standards Culture via Self- Regulation And Ethic Codes”, The Head of Department, Science Laboratory Technology, Delta State Polytechnic, Ogwashi-ukwu, Mr Timothy Oni, emphasised the need for owners of businesses to establish clear policy and procedures to ensure better compliance.Oni, a guest speaker, advised them to always ensure they educated their employees through regular training as well as regular auditing.Also, the Director of SON in charge of the South South Zone, Mrs Patience Kussy-Wanza, in her presentation, urged the participants to prioritise promotion of quality standards through self-regulation and observations of ethics to increase their organisation’s profit.“It will earn you tremendous respect, unquantifiable goodwill and global recognition, all of which significantly ensure globally competitiveness.”She emphasised that apart from being a regulatory agency, “we are indeed your partner in this critical imperative.”We are willing and available to support you to embrace standards and qualify assurance in your operations with just a visit or a call for necessary support or information”.(NAN)NEWS
Lagos Pays N978.6m Insurance to Families of Deceased Workers

The Lagos State Government, in collaboration with LASACO Assurance Plc, on Friday presented cheques worth N978.62 million to 510 beneficiaries as insurance death benefits for the dependents of deceased public servants in the state.The Commissioner for Finance, Mr Abayomi Oluyomi, who led the presentations, said that N978.
62 million was presented to provide relief for families of the deceased workers. He commiserated with the families of the deceased and explained the role of government in ensuring the welfare, safety, and wellbeing of citizens. Oluyomi asked for forgiveness from beneficiaries who had anticipated the payments earlier than they came, while acknowledging their difficulties after losing their beloved ones who were in active service of the state.According to him, all the staff of Lagos State know that the government is taking care of them, whether they are alive or not.“So, today, in consideration of what this particular government has been doing, we are going to be giving out cheques to over 510 people, totaling close to one billion Naira,” he said.He called for financial prudence from beneficiaries and patience on the part of those not captured in the current phase, adding that another batch will come up in three months.The commissioner, who earlier called for a minute’s silence to honour the departed, prayed for the repose of their souls and the wellbeing of those they left behind.He commended Gov. Babajide Sanwo-Olu of Lqgis State for huge investments in the workforce and assets for the overall wellbeing of Lagos residents.“This year alone, we paid a premium of over N3 billion to LASACO Assurance Plc for people and assets insurance,” he said.The Permanent Secretary, Ministry of Finance, Mr Mahmud Alao, called for financial diligence, urging the beneficiaries to shun the temptation of lavish spending that may jeopardise the intent of the funds as succor.He said the 510 beneficiaries received N978.62 million in this first batch of the exercise for 2025, adding that other phases would follow in quick succession.Mr Femi Saheed, the Chairman of the House Committee on Finance in the Lagos State House of Assembly, explained the lawmakers’ oversight function in ensuring the government’s compliance with its insurance obligations.Saheed praised the executive arm for its diligence while urging civil servants to take out insurance policies to complement the government’s efforts for their welfare.The Managing Director, LASACO Assurance Plc, Mr Rasaq Abiodun, commended the state government for its consistency in the payment of insurance premiums on its workforce.He advised beneficiaries to invest wisely while assuring that the company will continue to support the course of the state government and workers.The Chairman, Association of Senior Civil Servants of Nigeria (ASCSN), Mr Segun Balogun, also thanked the state government for its commitment and consistency regarding workers’ welfare, while also demanding financial intelligence from beneficiaries.Mrs Constance Ajayi, who spoke on behalf of other beneficiaries, thanked the state government for coming to their aid while explaining the difficulties arising from the demise of her husband. (NAN)