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VAT boosts October revenue as FG, states, LGs share N1.411t

VAT has boosted Nigeria's revenue for October 2024 as the FG, states and LGs shared N1.411 trillion

Value-added tax (VAT) has boosted Nigeria’s revenue for the month of October 2024 as the Federal Government (FG), states and Local Governments (LGs) shared N1.411 trillion.

A total of N668.291 billion was collected in October as VAT as against the N583.675 billion collected in September, increasing the revenue available for sharing to the three tiers of government.

This amount is higher than the N1.298 trillion that was shared in September by N113 billion.

The Federation Accounts Allocation Committee (FAAC) announced this on Wednesday at the end of its November 2024 meeting which took place in Bauchi State.

The meeting, which was chaired by the Accountant General of the Federation. Dr. Oluwatoyin Madein, was held after the 2024 National Council on Finance and Economic Development (NACOFED) hosted by the Bauchi State Government.

FAAC in a communique issued at the end of the meeting said the Value Added Tax (VAT) revenue in October 2024 was higher than what was available in the month of September 2024 by N84.616 billion.

It said that the N1.411 trillion total distributable revenue comprised distributable statutory revenue of N206.319 billion, distributable Value Added Tax (VAT) revenue of N622.312 billion, Electronic Money Transfer Levy (EMTL) revenue of N17.111 billion and Exchange Difference revenue of N566.000 billion.

The communiqué indicated that total gross revenue of N2.668 trillion was available in the month of October 2024. Total deduction for cost of collection was N97.517 billion while total transfers, interventions and refunds were N1.159 trillion.

According to the communiqué, gross statutory revenue of N1.336 trillion was received for the month of October 2024.

“This was higher than the sum of N1.043 trillion received in the month of September 2024 by N293.009 billion,” it said.

The communiqué stated that from the N1.411 trillion total distributable revenue, the Federal Government received a total sum of N433.021 billion and the State Governments received a total sum of N490.696 billion, while Local Government Councils received a total sum of N355.621 billion and a total sum of N132.404 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

On the N206.319 billion distributable statutory revenue, the communiqué stated that the Federal Government received N77.562 billion and the state governments received N39.341 billion.

The Local Government Councils received N30.330 billion and the sum of N59.086 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N622.312 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N93.347 billion, the State Governments received N311.156 billion and the Local Government Councils received N217.809 billion.

A total sum of N2.567 billion was received by the Federal Government from the N17.111 billion Electronic Money Transfer Levy (EMTL). The State Governments received N8.555 billion and the Local Government Councils received N5.989 billion.

From the N566.000 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N259.545 billion and the State Governments received N131.644 billion.

The Local Government Councils received N101.493 billion, while the sum of N73.318 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.

The communique noted that in October 2024, Oil and Gas Royalty, Excise Duty, Value Added Tax (VAT), Import Duty, Petroleum Profit Tax (PPT), and Companies Income Tax (CIT) increased significantly while Electronic Money Transfer Levy (EMTL) and CET Levies decreased considerably.

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AFCONQ 2025: Rohr Explains Super Eagles’ Shock Defeat to Rwanda

Benin Republic’s Cheetahs head coach, Gernot Rohr, has weighed in on the shocking defeat of Nigeria’s Super Eagles against Rwanda in their 2025 Africa Cup of Nations (AFCON) qualifier.

The match, which took place at the Godswill Akpabio International Stadium in Uyo on Monday, saw the underdog Rwandan side claim a memorable victory over the three-time African champions.

Despite the result, the Super Eagles had already secured their qualification for the tournament in Morocco after Libya’s earlier triumph over Rwanda.

However, the defeat on home soil has raised questions, and Rohr, who previously managed the Super Eagles, offered insights into what might have gone wrong.

In comments attributed to him via Fraternit, Rohr suggested that Rwanda’s victory was partly due to Nigeria’s perceived complacency following their confirmed qualification.

He highlighted that this overconfidence often leads to a lack of intensity, allowing opponents to capitalize.

“Against Nigeria, we were pegged back by Osimhen a few minutes before the end,” Rohr explained, reflecting on his own experiences coaching against the Super Eagles.

“I know this team well from having coached them. They sometimes tend to take their foot off the gas when they think they have qualified.

This can give their opponents the opportunity to spring a surprise, as was the case with Rwanda.”

Rohr’s analysis resonates with a recurring issue in football where already-qualified teams approach subsequent matches with reduced urgency.

For the Super Eagles, this complacency might have given Rwanda the motivation and space to exploit their vulnerabilities, especially in front of their home crowd.

Nigeria’s squad, filled with star players like Victor Osimhen and Samuel Chukwueze, was expected to dominate the match.

However, the team seemed to lack the sharpness and determination typically required to overcome a resilient opponent like Rwanda.

Rohr’s comments suggest that while the Super Eagles possess immense talent, maintaining focus and intensity, even in seemingly inconsequential matches, remains a challenge.

Rwanda’s victory is a significant milestone for the East African nation, underscoring the unpredictable nature of football and the importance of mental preparedness.

For Nigeria, the loss serves as a wake-up call as they prepare for the main tournament in Morocco, where they will face stronger teams with little room for error.

The defeat has sparked discussions among fans and analysts, with many hoping that the Super Eagles will address these lapses in future matches.

As one of Africa’s football powerhouses, Nigeria’s expectations remain high, and performances like this serve as reminders that success requires consistent effort, regardless of prior achievements.

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Kaduna Court Orders Man to Sweep Premises for Stealing Tiles Worth ₦130,000

A Chief Magistrates’ Court in Kaduna has sentenced a 30-year-old unemployed man, Vincent Danladi, to sweep the court premises for three weeks after he was found guilty of theft.

The items stolen included a carton of floor tiles and other materials valued at ₦130,000.

Danladi, a resident of Ungwan Pama in Kaduna, was charged with theft under the Penal Code of Kaduna State, 2017.

He pleaded guilty to the offence during his court appearance on Wednesday, admitting to the allegations brought against him by the prosecution.

In his ruling, Magistrate Ibrahim Emmanuel emphasized that the court had taken into account Danladi’s status as a first-time offender when determining the sentence.

Instead of imposing a fine or custodial punishment, the magistrate ordered Danladi to report to the court daily to sweep its premises for a period of three weeks.

This judgment reflects a rehabilitative rather than punitive approach, particularly for minor offences.According to the prosecution, led by Inspector Chidi Leo, the theft occurred on November 9 at a house under renovation in Sabon Tasha, Kaduna.

Danladi, along with two accomplices who are still at large, was accused of stealing a carton of 3×3 floor tiles, a bucket of paint, and a carton of wall tiles.

The total value of the stolen items was estimated at ₦130,000.Leo explained that during the course of the investigation, the stolen items were recovered, and Danladi was apprehended. His accomplices, however, remain unidentified and are yet to be arrested.

The prosecutor further stated that the theft contravened the provisions of the Kaduna State Penal Code, highlighting the legal consequences of such acts.

While delivering the sentence, Magistrate Emmanuel highlighted the importance of justice tempered with mercy, particularly for first-time offenders.

The court considered Danladi’s economic circumstances and his admission of guilt as mitigating factors. The decision to impose community service instead of imprisonment or a fine aims to provide an opportunity for Danladi to reflect on his actions and reintegrate positively into society.

This judgment has drawn mixed reactions from the public.

While some praise the court’s decision as a progressive move toward restorative justice, others argue that stricter measures are necessary to deter criminal behaviour.

Nonetheless, the case underscores the judiciary’s efforts to balance justice with compassion, particularly for individuals who show remorse for their actions.

Danladi is expected to begin his court-ordered community service immediately, sweeping the premises under the supervision of court officials for the stipulated three weeks.

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Oshiomhole Rejected Son’s Commissioner Nomination – Edo Deputy Governor

Oshiomhole Rejected Son’s Commissioner Nomination - Edo Deputy Governor

The Deputy Governor of Edo State, Dennis Idahosa, has disclosed that Adams Oshiomhole, the state’s former Governor, objected to his son Cyril’s nomination as the Commissioner for Health-designate.

According to PUNCH Online, Governor Monday Okpebholo appointed Dr. Cyril Adams Oshiomhole to the role of Commissioner for Health-designate last Tuesday, as announced in a statement by Fred Itua, the Governor’s Chief Press Secretary.

During an interview with Channels Television on Wednesday, Idahosa characterized Cyril as an experienced medical professional well-suited to serve in the cabinet.

He remarked, “Senator Adams Oshiomhole is a distinguished member of the Nigerian Senate, and his son, like everyone else, has his own path in life. Cyril is an accomplished medical doctor who completed his studies in Nigeria before advancing his education in the United States. He possesses the necessary qualifications to hold a cabinet position. Being Oshiomhole’s son does not exclude him from managing a role he is well-equipped to handle. His appointment as Commissioner for Health is based on merit.”

Dismissing accusations of favouritism and state control, Idahosa stated that the former National Chairman of the All Progressives Congress resisted his son’s nomination.

“This position has nothing to do with Adams Oshiomhole. In fact, Adams opposed it. He was against the nomination because of the vision the governor has for the people of Edo State. The governor made the decision to appoint Cyril based on competence, not because of his father,” Idahosa explained.

Addressing comparisons with former President Olusegun Obasanjo’s remarks about state capture, Idahosa added, “What is happening in Edo State is far from state capture. It is about ensuring competence and delivering results for the people.”

On his role as deputy governor, Idahosa said, “The governor and I discuss cabinet matters, but my main statutory function as deputy governor is overseeing the boundary commission, which I will chair.”

The PUNCH

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Oluremi Tinubu Highlights Gender Equality as Pillar for Peaceful Societies

"Oluremi Tinubu Highlights Gender Equality as Pillar for Peaceful Societies"

The First Lady, Senator Oluremi Tinubu, has urged continued efforts to promote gender equality across the nation.

She highlighted that gender equality plays a vital role in building a peaceful, fair society and fostering sustainable development.

Addressing the 2024 Gender Conference on Tuesday at the University of Lagos, she stressed the importance of justice, fairness, and empowerment in driving societal progress.

“Gender equality is essential for achieving a peaceful and equitable society,” Tinubu declared during her keynote address.

The First Lady, Senator Oluremi Tinubu, has urged continued efforts to promote gender equality across the nation.

She highlighted that gender equality plays a vital role in building a peaceful, fair society and fostering sustainable development.

Addressing the 2024 Gender Conference on Tuesday at the University of Lagos, she stressed the importance of justice, fairness, and empowerment in driving societal progress.

She added, “Women and girls represent half of the world’s population and potential. Empowering them is critical for productivity and economic growth.”

The First Lady, Senator Oluremi Tinubu, has urged continued efforts to promote gender equality across the nation.

She highlighted that gender equality plays a vital role in building a peaceful, fair society and fostering sustainable development.

Addressing the 2024 Gender Conference on Tuesday at the University of Lagos, she stressed the importance of justice, fairness, and empowerment in driving societal progress.

“I worked for 12 years in politics without having the numbers to influence policies directly affecting us. For instance, I couldn’t effectively oppose laws like child marriage, which severely impacts young girls,” she said.

Tinubu encouraged women to proactively seek out opportunities instead of waiting for them to be offered.

“Be bold, stay informed, and create your own opportunities. Hard work and faith go hand in hand,” she advised.

The First Lady of Oyo State, Tamunominini Makinde, highlighted the significance of achieving gender equality for both men and women in her goodwill message.

“Gender equality is not just about women. A man can be a nurse, and a woman can be a pilot or a lawyer. It’s about having the opportunity to pursue your dreams irrespective of gender,” she stated.

Makinde also urged women pursuing careers in traditionally male-dominated fields to ensure they are well-prepared.

“Ask yourself: How well do you know the field? Who has succeeded in it before you? What can you do better? These questions will help you build a solid foundation,” she said.

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APC vs PDP Governors Clash Over Oil Revenue Allocation

APC vs PDP Governors Clash Over Oil Revenue Allocation

Bala Mohammed, the Governor of Bauchi State, has stated that state governments have not yet reaped the benefits of the increased revenue from the oil sector, as the funds are not being accurately credited to the Federation Account.

In his capacity as Chairman of the People’s Democratic Party Governors Forum, he called on the Federal Government to offer a comprehensive and transparent explanation to the public regarding the failure to properly remit collected revenues for fair distribution among the three levels of government as required by law.

The governor made these comments during a visit from Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, who paid a courtesy call to the state government house ahead of the 2024 Conference for the National Council on Finance and Economic Development taking place in Bauchi.

He emphasized that it should be regarded as nothing short of a miracle that states have not yet benefited from the current oil revenues, despite the country being one of the world’s leading oil producers.

The PUNCH highlights that NNPCL is a significant source of income for Nigeria, functioning as the national oil company responsible for overseeing the management, sales, and other essential activities related to the country’s crude oil and gas.

It contributes revenue from crude oil sales to the government’s treasury.

However, in recent years, NNPC has transferred almost no funds to the Federation Account due to the costs associated with the subsidy on Premium Motor Spirit.

Our reporter’s investigation revealed that the national oil company did not contribute any money to the federation account in 2022.

It stated that the fuel subsidy prevented the revenue-generating company from paying taxes and royalties to the Federation Account and stopped it from turning a profit.

However, Umar Ajiya, the former Chief Financial Officer of NNPCL, confirmed in a documentary earlier this year that the removal of the subsidy led to the company beginning to make remittances into the Federation Account.

“We have now begun to pay dividends to the federation. We are also paying our due obligations in terms of taxes and royalties,” he stated.

The company further stated in the documentary that the end to subsidy enabled it to contribute N4.5tn to the Federation Account in nine months.

“For the first time in a long time, NNPC Ltd in 2023 contributed to the Federation Account, accounting for N4.5tn between January and September 2023,” the national oil company stated.

Further investigations showed that NNPC transferred N431.06bn of its accumulated earnings to the federation account during the first seven months of 2024.

Stakeholders had anticipated better allocation of funds after the fuel subsidy was removed through the current sector deregulation, which led to a 490 percent increase in petrol prices.

However, in his remarks, the governor expressed dissatisfaction, stating that no noticeable changes have occurred.

He said, “It’s a miracle that we are one of the biggest oil-producing nations, but we have not benefited for some time since you came on board.

“You have to explain that this is what you are going through. That is inclusion. And if you don’t say it, nobody will know. But, some of us know. We call this leadership and responsibility.”

 “You have to make our oil and gas sector produce. Not only to produce and sell but put it in our Treasury for distribution and sharing.

“You must provide financial services to us at subnational. Financial services that will help us to enhance our productivity, and also use the resources wisely. Because without us, there will be no Federal Government.”

In reply, the governing All Progressives Congress has criticized governors from the Peoples Democratic Party, urging them to demonstrate that they have not gained from the crude revenue under President Bola Tinubu’s current administration.

He said, “Our call at all points in time is that opposing views are welcome in as much as they are constructive towards nation-building, and they are not views expressed only because they want to play to the gallery. If his view is to be taken seriously, it must not be generic and verbose. It must be specific and concrete.

“Senator Mohammed must put down those evidence on the table for further elaboration. It is only at that point that we can then, as a political party, venture to take on the issues in a very objective manner. We have seen clamours of this before now and when you dig further, you will find no substance in it.

“So, by and large, it is welcome, and our call would be that he put the facts. We have always known that proceeds that ought to go into the consolidated revenue account of the country are not things done in an obscure manner. They are things that are done transparently.”

In a special interview with The PUNCH, Nze Chidi Duru, the Deputy National Organising Secretary of the APC, advised Senator Bala Mohammed, Chairman of the PDP Governors’ Forum and Governor of Bauchi State, to seek clarification before presenting unverified claims to the public.

Duru emphasized that the APC government is open to corrections, but urged Mohammed to provide concrete proof to support his assertion, particularly since it is widely known that every state receives a higher allocation under the current administration.

He pointed out that previous warnings of this nature had proven to be nothing more than attempts to discredit the Federal Government and paint it in a negative light before the public.

“It is important again to note that this is the first time in the history of our country that more money has gone into the hands of the various tiers of government at various levels. At the state level and the local government level. So, one would be interested to know what these enormous resources have been deployed at those levels and used in the various states and tiers of government.

“So, the party and the government are not averse to any constructive criticisms or further feedback or data that would help the government to plug in the various loopholes that would bring in money. At the end of the day, these monies are not just meant for the federal government. It is not meant for the APC government or the Tinibu government. These are monies meant for distribution to the states, the local government as well as the federal.

“So, as much as the federal is interested in receiving more money, I would also believe that the states and the local government are also interested in receiving more money. The only way they can make more money or get more money on top of what they are getting is to point out if there are recognisable leakages in the system that need to be blocked.

“If the money that needs to come into the consolidated account is not coming in and is pointed out, the government would make the necessary effort to make sure that those monies are coming into the coffers of the government. This is where I think that the opposition should help headline and spotlight what needs to be done to make the country a much better place than is currently the case,” he stated.

The NNPCL spokesperson, Femi Soneye, did not reply to phone calls, text messages, or WhatsApp messages sent to his contact numbers for clarification on the matter.

The PUNCH

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Labour Party Vows to Reposition, Aims to Become Nigeria’s Leading Political Brand Ahead 2027

The Labour Party (LP) has reiterated its commitment to transforming itself into Nigeria’s leading political party, capable of addressing the nation’s challenges and rescuing it from prolonged socio-economic stagnation. This determination was underscored at the party’s recent National Executive Council (NEC) meeting, where strategic resolutions aimed at strengthening the party’s structure and outreach were approved.

National Publicity Secretary, Obiora Ifoh, in a statement, highlighted the NEC’s commendation of the Directorate of Mobilization and Integration, led by Dr. Marcel Ngogbehei and Sheikh Rufai Al-Sadique as Secretary. Within just six months of its inauguration, the directorate has achieved notable milestones in expanding the party’s membership base and enhancing grassroots mobilization.

NEC urged the leadership of the directorate to intensify efforts to make the party accessible to Nigerians across all demographics, thereby ensuring robust membership growth.

As part of its restructuring efforts, the NEC approved the establishment of the Directorate of International and Diaspora Affairs, which will be headed by Professor Eddie Oparaoji, with Ms. Aju Elumelu serving as Secretary.

This directorate is tasked with managing the millions of party members in the diaspora and devising strategies to facilitate their active participation in party activities, including ward congresses.

Additionally, the Labour Party is prioritizing institutional reforms within its structure.

The NEC approved the immediate inauguration of several committees, including the Electoral Reform Committee, Political Education Committee, and State Elders Council.

Speaking on the Electoral Reform Committee, Labour Party National Chairman, Julius Abure, emphasized the need for credible electoral processes.

He noted that the party was a major victim of irregularities in the 2023 general elections and is committed to advocating for comprehensive electoral reforms.

The committee, chaired by Hon. Benedict Etanabene, with Hon. Okey Joe as Co-Chair and Dudu Manuga as Secretary, has been given eight weeks to submit its report.

This report will guide the party’s future engagements with the electorate and relevant institutions in the electoral process.

Abure also highlighted the importance of political education, pointing out that both leadership and followership play critical roles in national development.

He announced the formation of the Political Education Committee, chaired by Rt. Hon. Ativie Elizabeth, former Speaker of the Edo State House of Assembly, with Mr. Bulus Maisamari as Secretary.

The committee’s mandate includes reorienting party members and the electorate, fostering civic engagement, and promoting positive attitudes necessary for Nigeria’s growth.

In his closing remarks, Abure reaffirmed the Labour Party’s resolve to reposition itself as a formidable political brand. “Nigeria has remained in the doldrums for too long. Labour Party is determined to rescue the nation and provide credible leadership for the people,” he declared.

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