FAAC Disburses N1.123tn to Federal, State, and Local Governments for March 2024
Naija247newsApr 19, 2024 10:25 PM
The Federation Account Allocation Committee (FAAC) has distributed a total of N1.123tn to the federal, state, and local governments for March 2024, sourced from a gross revenue of N1.867tn, to support various government initiatives.

In a statement signed by Mohammed Manga, the Director of Information and Public Relations at the Ministry of Finance, this critical allocation is aimed at providing necessary funds for developmental projects and essential services across Nigeria’s governmental tiers.

The monthly disbursement by FAAC plays a pivotal role in driving progress and enabling governmental bodies at different levels to fulfill their duties effectively.

During the meeting chaired by the Accountant General of the Federation, Mrs. Oluwatoyin Madein, the allocation breakdown was detailed as follows: the Federal Government received N345.890bn, states received N398.689bn, local governments received N288.688bn, and oil-producing states received N90.224bn as part of the 13% mineral revenue derivation.

The statement also highlighted an increase in Value Added Tax (VAT) revenue for March 2024, reaching N549.698bn—an N89.210bn rise from the previous month, reflecting economic growth and improved tax compliance.

However, the Gross Statutory Revenue for March stood at N1.017tn, lower than February’s N1.192tn by N175.212bn, attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

As of April 2024, the Excess Crude Account maintains a balance of $473,754.57, securing reserves for future financial stability.

FAAC’s strategic allocation of funds is expected to stimulate economic activities nationwide and bolster government efforts in enhancing infrastructure, healthcare, education, and other critical sector

Good morning and happy new month
Maybe its when they are coming to their LGA

Kindsoul55:
NOTICE FOR A 2-DAY PRE-RESUMPTION TRAINING FOR TEACHERS!

NOBLE COLLEAGtUES, kindly inform your teachers that the Executive Governor of the State has approved a two day pre-resumption training for all teachers which is bid to hold simultaneously in the three senatorial zones of the State on Thursday 7th - Friday 8th September, 2023.

The venue and time of the training will be announced later. Thanks and remain blessed.

Signed:

UMESI, INNOCENT
(ANCOPSS STATE PRO)

Good morning noble colleagues has anyone heard anything about this meeting again such as venue and time

dmercy141983:


Yes he has, check this previous thread upwards you will see the news has been posted here already. The board has been constituted.

I don't think he has constitude any board

Good morning all
Adoye led concerned teachers is yielding results
Kudos

Has anyone heard anything about induction or training for newly employed teachers in the ube

Gensun:
This is to remind the school authorities that the Briefing Exercise for Principals will still hold as follows:
Date: Wednesday, 26th April, 2023
Venue: Government Girls' Secondary School, Rumuokwuta
Time: 10 am prompt.
Please note the attendance for the Briefing is compulsory and kindly be punctual.
Thank you.

Adetunji, A. A.
For: DR/Zonal Coordinator

Was anyone here was in this meeting or has heard the outcome of the meeting, please I want to know. No insult please

This is to remind the school authorities that the Briefing Exercise for Principals will still hold as follows:
Date: Wednesday, 26th April, 2023
Venue: Government Girls' Secondary School, Rumuokwuta
Time: 10 am prompt.
Please note the attendance for the Briefing is compulsory and kindly be punctual.
Thank you.

Adetunji, A. A.
For: DR/Zonal Coordinator

Will this increments affect us at the state

Sophiemama:
Yes, the info was from our principal and we responded via SMS. It came this evening.

Thanking you alot
But one thing again the response was to send the documents to or confirming the name on the norminal roll

Sau24:
The principal of your school should go to nominal roll and pick all of them.

loo

Then submit at the board headquarters or the zonal office, and whe is should this be done plet

Sophiemama:
Goodevening house,my school have been urgently asked to submit or ID CARD NUMBER,COMPUTER NUMBER AND PHONE NUMBERS through our principal.

Is it a new submission

Please help a brother, in case to avoid had I known and unnecessary hurry

Sophiemama:
Goodevening house,my school have been urgently asked to submit or ID CARD NUMBER,COMPUTER NUMBER AND PHONE NUMBERS through our principal.

Should this be a new submission, I'm lost I've not heard anything from my school and zonal director

Is there any info of promotion interview for education ministry of this Thursday

Is there any other form from FCMB or their pension

Good morning, someone should help,the filling of the form bcoz I'm confused

We are believing the mighty hands of the Almighty God

Will he (the governor) do anything like he said or for saying sake to gladden their hearts

INEC postponed governorship and house of assembly election to Saturday 18march 2023

FCMB what is holding you

Believes school resumes tomorrow

My dear, not only sending him thunder but all that he's saying that no one on the platform is not doing, has he introduced a topic on either of or on those issues and were not discussed.. This his statement reminds me of an adage that says " ONE SHOULD NOT THROW STONES IN THE MARKET FOR YOU DON'T KNOW WHO WILL BE HIT BY THE STONE '

The teachers that has been promoted have not be paid the due salary, a level 10 teacher is still earning level 8 salary.

I repeat again MAKE THUNDER FIRE YOU IDIOT, YOU'RE A FOOL OK!

If I see you I go wound u for typing this nonsense here that we are not real teachers, you're a BASTARD OK! tell me who is the real teacher? The one that is not promoted, or promoted but not duly paid? [/quote]

As such, since there is no motivation what should we do

Tekzyflex:


No joy my brother. No promotion for 9yrs,no increment,no incentives,prices of goods and services has skyrocketed.

To my greatest surprise out monthly payments can not buy a bag of rice again

Good afternoon honorable colleagues, this house cool and quiet die what is not happening

FG, States and LGAs share N700.235bn for Sep 2022
By Nduka Chiejina (Assistant Editor) On Oct 26, 2022
FAAC
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The Federation Account Allocation Committee (FAAC) has shared N700.235 billion to the three tiers of government as federation allocation for September, 2022.

From this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), and Electonic Money Transfer Levy (EMTL), the Federal Government received N262.636 billion, the States received N217.191 billion, the Local Government Councils got N160.416 billion while oil producing States received N59.992 billion as derivation from 13 percent mineral revenue.

The communiqué by FAAC at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for September 2022 was N189.928 billion which is a decrease from what was distributed in the preceding month.

The VAT distribution showed that the Federal Government got N28.489 billion, the States received N94.964 billion and the Local Government Councils got N66.475 billion
The Gross Statutory Revenue of N502.135 billion distributed was higher than the sum received in the previous month, from which the Federal Government was allocated the sum of N232.921 billion, States got N118.141billion, LGCs got N91.081billion, and Oil Derivation (13 percent Mineral Revenue) got N59.992 billion.

Also, N8.172 billion of Electronic Money Transfer Levy (EMTL) distributable revenue was shared to the three tiers of government as follows; the Federal Government received N1.226 billion, States got N4.086 billion, Local Government Councils received N2.860 billion.

The communiqué further revealed that Oil and Gas Royalties increased tremendously, while Petroleum Profit Tax (PPT) and Excise Duty recorded marginal increases. However, Value Added Tax (VAT), Import Duty and Companies Income Tax (CIT) decreased considerably.

It was further disclosed that total revenue distributable for the month of September was drawn from Statutory Revenue of N502.135 billion, Value Added Tax (VAT) of N189.928 billion and N8.172 billion drawn from Electronic Money Transfer Levy (EMTL), bringing the total distributable for the month to N700.235 billion.

However, the balance in the Excess Crude Account (ECA), as at 26th October 2022 stands at $472,513.6

This days the news about FAC meetings has always been heard of from 25th of the m

Thanking you for the school calendar