pee30:



FAAC shares N616.198bn to federal, states, LGs
ON May 22, 2019 1:47 AM

The Federation Accounts Allocation Committee, FAAC, has shared a total of N616.198 billion to the three tiers of government from the federation revenue earned in April.
A communique issued by FAAC at the end of its meeting in Abuja, yesterday, indicated that the N616.198 billion comprised revenue from Value Added Tax, VAT; exchange gain and gross statutory revenue.
The gross statutory revenue for the month was N518.916 billion, which was higher than the N446.647 billion received in the previous month by N72.269 billion.
Revenue from VAT was N96.485 billion as against N92.181 billion distributed in the previous month, resulting in an increase of N4.304 billion. Exchange Gain yielded a total revenue of N0.797 billion.
The committee announced that as at May 20, 2019, the balance in the Excess Crude Account was $144 million.
Of the N616.198 billion shared, the Federal Government received N253.918 billion, the states received N168.056 billion, and the local governments received N126.278 billion.
The oil producing states received N46.353 billion as 13 per cent derivation revenue and Revenue Generating Agencies received N21.593 billion as cost of revenue collection.
A breakdown of the distribution showed that from the gross statutory revenue of N518.916 billion, the Federal Government received N239.655 billion, the States received N121.556 billion, the Local Government Councils received N93.715 billion, the Oil Producing States received N46.256 billion as 13% derivation revenue and the Revenue Collecting Agencies received N17.734billion as cost of collection.
From the Value Added Tax (VAT), the Federal Government received N13.894 billion, the States received N46.313 billion, the Local Government Councils received N32.419 billion and the Revenue Generating Agencies received N3.859 billion.
According to the committee, revenues from Petroleum Profit Tax (PPT), Import Duty and Companies Income Tax (CIT) recorded significant increases; Revenue from Value Income Tax (VAT) recorded a marginal increase; while Oil Royalty and export duty decreased substantially.

gold360:
I am hearing there won't be any public holiday next week for civil servants in rivers state.
Please how true is this?

Chibuking81:

https://www.officeholidays.com/countries/nigeria/index.php

https://t.guardian.ng/news/fg-declares-may-29-june-12-public-holidays/

There will be public holidays and mid- term holidays
1. Monday 27th May 2019.
2. Wednesday 29th May 201.
3. Friday 31st May 2019.
4. Monday 3rd of June 2019.
5. Wednesdays 5th June 2019 and,
6. Wednesday 12th June 2019.
The next 3 Mondays are holidays, also the next 3 Wednesdays are public holidays, with 1 Friday as holiday.

gold360:
many thanks dear. Please help us and break it down and tell us what each day stands for, I can only identify 27th may and 29th May as children's day and democracy day respectively.
Thanks

Chibuking81:

https://www.officeholidays.com/countries/nigeria/index.php

https://t.guardian.ng/news/fg-declares-may-29-june-12-public-holidays/

There will be public holidays and mid- term holidays
1. Monday 27th May 2019 = Children day (A public holiday for primary and secondary school children)
2. Wednesday 29th May 2019 = Public holiday ( Presidential inauguration)
3. Friday 31st May 2019 = Holiday ( Mid term break)
4. Monday 3rd of June 2019= Holiday ( Mid term break)
5. Wednesdays 5th June 2019 = Eid-el-fitri Sallah ( The end of Ramandan)
6. Wednesday 12th June 2019 = Democratic Day ( Commemorates the annulled general election of 1993)
The next 2 Mondays are holidays, also the next 3 Wednesdays are public holidays, with 1 Friday as holiday.

Chibuking81:



Note
1. Democratic day has been shifted to June 12.
2. 29th is presidential inauguration ( this might be observing once in 4 years during swearing in year or might still remain every year, next year will tell)

GamaG:
What this N30,000 translates into is that there is a 67 percent increase.

“If a state government applies the same 67 percent increase across board, there will be serious trouble. The same with the federal government and when there is that trouble, there will be trade dispute because the Principle of Ability to Pay will come in and the International Labour Organisation encourages us to apply that principle in our discussion.

GamaG:
What this N30,000 translates into is that there is a 67 percent increase.

“If a state government applies the same 67 percent increase across board, there will be serious trouble. The same with the federal government and when there is that trouble, there will be trade dispute because the Principle of Ability to Pay will come in and the International Labour Organisation encourages us to apply that principle in our discussion.

2ruconfidence:

Who are u quoting biko?

001bumsa:
May salary alert. Zenith bank. Same same

hail:
Mid term break start this Friday and ends on Monday

Charis15:

Has anyone confirm this alert?

temple4real:
The Federal Government has declared Tuesday, June 4 and Wednesday, June 5, as public holidays to mark the Muslim Eid-Fitri Celebration.

The Permanent Secretary, Ministry of Interior, Mrs Georgina Ehuriah, made the declaration on behalf of the Federal Government in a statement signed by Mr Mohammed Manga, Director Press & Public Relations, of the ministry, on Friday in Abuja.

Ehuriah congratulated the Muslim faithful on the successful completion of the Ramadan fast and enjoined all Nigerians to use the occasion of the celebration to pray for the peace, unity, prosperity and stability of the nation.