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FG, States and LGAs share N4.55 trillion in 9 months

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The latest Quarterly Review of the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that a total of N4.545 trillion was released as FAAC allocations between January and September 2017.

Out of this amount, N1.757 trillion was shared in the third quarter of 2017 as against the N1.377 trillion and N1.411 trillion disbursed in the second and first quarters of the year.

The publication which contains information and data on FAAC disbursements for the third quarter of 2017 and on mid-year budget implementation also shows that between January and September 2017, the federal government received the highest allocation of N1.851.32 trillion, followed by state governments with N1.509 trillion and the 774 local governments with N913.8 billion. The sum of N271.78 billion went to DPR, Customs and the FIRS as cost of revenue collections.

Further analysis indicates that the revenues shared to the federating units were higher in the third quarter of 2017 which has been the trend for some time.

According to the review “positive developments in the oil sector – evident from resurgent oil prices and increased production levels. The third quarter also represents the summer season when global oil demand and consequently oil prices are generally higher than other times of the year and this could possibly explain the higher revenue accruals to the Federation account in these third quarters”

The reports adds that “upward trend in the FAAC disbursements to the three tiers of governments are encouraging signs which if sustained will improve government expenditures, help to boost economic activities and move the country further away from recession”.

The analysis also compared government’s earnings in 2017 to 2016 and showed that total revenues were higher in the first half of 2017 than the corresponding period of 2016 by 22%.

The review further notes that states will have to aggressively raise their Internally Generated Revenue (IGR) in order to be able to actualize their budgets.

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P+ Measurement extends partnership with Global Communications Agency

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Phillips Odiakose

Media monitoring and evaluation agency, P+ Measurement Services has announced an extension of its media monitoring and evaluation partnership with global communications firm, Burness Communications for 2019. The extension will enable P+ to continue providing print, online, TV and radio monitoring and evaluation services to Burness in the Ghana market.

In a bid to continue the successful rollout of the partnership signed in 2017, P+ will continue to handle Burness Communications client public relations monitoring and evaluation activity while supporting their organizations objectives. Burness Communications specializes in advocacy campaigns, media relations, public policy engagement and event planning and P+ will help the brand maximize its communications objectives by providing real-time, high-quality media monitoring and evaluation services.

Speaking about the partnership extension, Lead Consultant P+ measurement services Nigeria, Philip Odiakose said.  “We are delighted to extend what has been an excellent partnership with Burness Communications to improve the availability of reliable, cost-effective media monitoring services across Africa. The media monitoring and evaluation market is a growing market and with the right frameworks and experts in place we believe we are on the right path to redefining the market with quantitative and qualitative analysis that adds value to marketing communications.“

“As we said at the start of this partnership, it remains true that the media monitoring and analytics market offers huge potentials to stakeholders. With the right partners providing support in the areas of media planning, analytics and reporting we believe we can help our clients make a difference in their business”. He continued.

Nigeria’s fast-growing media intelligence agency P+ Measurement Services continues to spur a PR measurement and evaluation literacy campaign for brands and government agencies in a bid to standardize a procedure that enables stakeholders to understand that implementing the right measurement and evaluation program will help companies get a clearer understanding of consumer habits and sentiment toward brand products and services.

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FMBN disburses N114.5m home renovation loan to 139 beneficiaries in Yobe

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FMBN

The Coordinator, Federal Mortgage Bank of Nigeria, in Yobe, Abdu Goni, has said the bank has disbursed N114,500,000.00 as home renovation loan to 139 staff of Federal Medical Centre, Nguru.

The coordinator disclosed this yesterday while presenting cheques to the beneficiaries in Damaturu.

He said the loan, which is under the bank’s Home Renovation Loan scheme, followed a Memorandum of Understanding MoU)  signed with their employers.

Goni explained that the loan has six percent interest rate and is repayable in five years.

“Already federal government employees in 35 states of the federation and the FCT have benefited with exception of Yobe state.

“Contributors can borrow from one naira up to N1 million to renovate their homes. We solicit Yobe state government’s cooperation and understanding toward assisting and encouraging the employees who are contributing to the NHF scheme to also benefit from this window,” he appealed.

He commended the administration of governor Gaidam for according priority to welfare of its workers in terms of prompt payment of salary and gratuity and allocation of houses on owner-occupier basis.

Earlier, the special guest of honour, Governor Ibrahim Gaidam, who was represented by Permanent Secretary, Establishment, Bukar Dapchi said the government would look into the issues raised with a view to assisting its workers benefit from the loan.

Source: DailyTrust

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PDP alleges plots to arrest Atiku, Obi, Saraki, Dogara

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PEOPLE’S Democratic Party (PDP) National Chairman Prince Uche Secondus has raised the alarm, alleging plots by the Economic and Financial Crimes Commission (EFCC) to arrest some key leaders of the opposition party on trump up charges.

Secondus listed the PDP presidential candidate, Atiku Abubakar; his running mate, Peter Obi; Senate President Bukola Saraki and House of Representatives Speaker Yakubu Dogara and the party’s other leaders as some of those marked for arrest.

But, the Presidency denied the reports claiming that the Buhari-led government ordered raid on the home of PDP presidential candidate’s son and the alleged blockage of the Obi’s bank accounts and his family.

A statement by the Senior Special Assistant on Media and Publicity, Garba Shehu, said the reports are manifestation of the PDP’s growing expertise in fake news.

He called on the public to disregard the reports.

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