Oil & Gas

FAAC: FG, States, others share N3.88trn in 6 months – Report

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The Federation Accounts Allocation Committee (FAAC) shared N3.879 trillion to the Federal Government, states, local government areas and other statutory recipients in the first half of 2020.


This was contained in the latest edition of the quarterly report on the review of the Nigeria Extractive Industries Transparency Initiative (NEITI) released in Abuja, on Tuesday.

A breakdown of the disbursements showed that N1.53 trillion went to the Federal Government, while the states got N1.29 trillion and the 774 local government areas received N771.34 billion

The N1.53 trillion received by the FG in H1 2020 was 4.28 per cent lower than the N1.599 trillion it got in the first half of 2019 and 7.36 per cent lower than the N1.652 trillion it received in the first half of 2018.

“For states, a total of N1.29 trillion was disbursed in the first half of 2020.

“This was 2.8 per cent lower than the N1.35 trillion disbursed in the first half of 2019, and 5.6 per cent lower than the N1.37 trillion disbursed in the first half of 2020,” the report stated in part.

For local government areas, the 2020 first half disbursements were 2.64 and 3.04 per cent lower than the corresponding disbursements for 2019 and 2018, respectively.

However, disbursements in second quarter(Q2) 2020 were 1.09 per cent higher than total disbursements in Q2 2019 and 3.66 per cent lower than the one for Q2 2018.

FAAC disbursements in the second quarter of 2020 stood at N1.934 trillion.

“This was made up of N739.2 billion to the Federal Government, N629.3 billion to state governments, and N375.4 billion to the 774 local government areas.”

According to the report, the total FAAC disbursements in the second quarter of 2020 was slightly lower than the N1.945 trillion disbursed in the first quarter of 2020.

This aligned with the projections made in the previous issue of the NEITI Quarterly Review, which projected lower FAAC disbursement in the second quarter.

The report attributed the 0.55 per cent decrease in Q2 2020 to a couple of factors, including rebound in oil prices in the second quarter as a result of ease of lockdowns by countries across the world.

The other was the adjustment of the official exchange rate by the CBN from N307 to a dollar to N360 to a dollar in March resulting in higher naira disbursements.

FAAC disbursements in the first quarter and second quarter of 2020 were very volatile, with the difference in total disbursements between months ranging between N58.9 billion and N199.3 billion.

“During this period, the disbursements were very volatile in the first half of 2020, compared to 2018 and 2019.

“Unlike 2018 and 2019 where aggregate disbursements increased and decreased in successive months, in 2020 they fell for two straight months, increased in one month, and then decreased for two straight months.”

In the months under consideration in 2020, aggregate disbursements fluctuated by large amounts, compared to 2018 and 2019.

“Aggregate disbursements were N716.3 billion in January and this fell to N647.4 billion in February.

“Thereafter, disbursements fell to N581.6 billion in March, before increasing to N780.9 billion in April.

“Disbursements then fell to N606.2 billion in May and to N547.3 billion in June.

“These figures indicate differences of N68.9 billion between January and February, N65.7 billion between February and March, N199.3 billion between March and April, N174.7 billion between April and May, and N58.9 billion between May and June.

” For comparison, the highest inter-month difference in the first half of 2018 was N62.9 billion, while the corresponding figure for 2019 was N63.5 billion.

“Thus, there have been very wide fluctuations in aggregate disbursements so far in 2020,” the report also stated in part.

NEITI in the report also disclosed that from January to May 2020, actual government revenue was N1.62 trillion, representing 62 per cent of the expected pro-rata revenue of N2.62 trillion from the revised budget.

This, the NEITI said explained a shortfall of 38 per cent in government revenue for the first five months of the year.

As oil prices continue to rise, and with the increased pace of economic activities, it projected that Government revenue will perform better in the second half of 2020, with the possibility of shortfalls in revenue compared to budgeted figures.

On total net FAAC disbursements and deductions for states for the first half of 2020, the report observed wide disparities.

Osun State had the lowest net disbursement of N13.13 billion, while Delta State had the highest net disbursement of N100.81 billion.

“This implies that Delta State received seven times the disbursement that Osun State received.

“Total net disbursements received by Delta State (N100.81 billion) was higher than the combined total net disbursements of N99.47 billion received by six states – Osun, Cross River, Plateau, Ogun, Gombe and Ekiti.

“Also, the combined total net disbursements of N321.29 billion received by the four highest receiving states of Delta, Akwa Ibom, Rivers, and Bayelsa were higher than the combined total net disbursements of N314.08 billion received by 16 states.

The States are Osun, Cross River, Plateau, Ogun, Gombe, Ekiti, Zamfara, Kwara, Nassarawa, Ebonyi, Taraba, Benue, Adamawa, Ondo, Bauchi, and Abia.

“While Lagos State had the highest deductions, Yobe State had the lowest.

ENO/

Edited By: Kamal Tayo Oropo/Bayo Sekoni
Source: NAN

 

https://nnn.ng/faac-fg-states-others-share-n3-88trn-in-6-months-report/

General news

Gov. Ayade congratulates Obaseki on re-election  

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Gov. Ben Ayade of Cross River has congratulated his Edo counterpart, Gov. Godwin Obaseki, on his re-election.


 

Obaseki, the candidate of the Peoples Democratic Party ( PDP)  polled 307, 955 votes to defeat his closest rival, Pastor Osagie Ize-Iyamu of the All Progressives Congress (APC)  who scored 223,619 votes.

 

Ayade described Obaseki’s victory at the polls as well deserved considering his achievements in the past four years.

This is contained in a statement released by Ayade’s Special Adviser on Media and Publicity, Mr Christian Ita, to journalists on Sunday in Calabar.

 

Ayade’ said, “I extend my warm felicitations to you on your well deserved victory in the just concluded Edo gubernatorial election.

“For those of us who have keenly followed your giant strides in Edo, your victory did not come as a surprise.

 

“Your re-election, therefore, represents a bold and emphatic testimony to the good works you had done in the past four years.”

 

He, however, urged  Obaseki to see his victory as a clarion call to do more for Edo people who had reposed their confidence in him in the last four years.

 

The governor who expressed his delight that Obaseki’s re-election had now brought  the entire South South zone under the PDP family, urged him to be magnanimous in victory.

 

He also commended President Muhammadu Buhari, the Independent National Electoral Commission (INEC) and the security agencies for their neutrality in the election.

 

“The election has been fought and won and it is refreshing to note that our great party, the PDP, has maintained its total control of our geo-political zone, the South south.

 

“Having won a hard-fought election, I encourage you to be magnanimous in victory by extending an olive branch to your opponents on the other side,” he added.

 

 

Edited By: Chioma Ugboma/Peter Dada
Source: NAN

https://nnn.ng/gov-ayade-congratulates-obaseki-on-re-election/
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Politics

Gov. Umahi congratulates Obaseki; lauds electoral process

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Gov. David Umahi of Ebonyi has congratulated Gov. Godwin Obaseki of Edo on his re-election  following the release of the  result by INEC of the just concluded governorship election.


Mr Francis Nwaze, the  Special Assistant to Ebonyi Governor on Media and Publicity, released the congratulatory message to newsmen on Sunday in a statement from Abakaliki.

According to Umahi, though it was a keenly contested election, Obaseki’s re-election has again rekindled hope in the nation’s democracy.

He added that the re-election had also rekindled hope in the electoral process which allowed unhindered, the wishes and aspirations of the people to prevail.

The governor said  that Obaseki’s electoral value and his capacity to deliver democratic dividends were fully acknowledged and accepted by Edo people.

Umahi urged the re-elected governor to remember not the former things, but propound approaches for greater Edo  which unarguably underlie his re-election.

“I congratulate you on your well-deserved victory. Your re-election has confirmed your electoral appeal in Edo state.

“Remember not the former things, get to work and take Edo State to another greater heights.

“I am happy because your re-election has rekindled faith in the electoral process and our democracy,” he stated.

Edited By: Abiodun Esan/Peter Dada
Source: NAN

https://nnn.ng/gov-umahi-congratulates-obaseki-lauds-electoral-process/
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General news

Thunder strikes in Ekiti, kills 15 cows

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Thunder struck on Saturday evening and reportedly killed 15 cows in Ikogosi community in Ekiti West Local Government area of Ekiti State.


The Asaoye of Ikogosi-Ekiti, Chief Ayo Ademilua, described the incident as a natural occurrence, which he said was strange in the town.

Narrating the incident to journalists via telephone on Sunday, Ademilua said that the incident happened at the Ikogosi Warm Spring site along Ipole – Ekiti road.

The News Agency of Nigeria reports that Ikogosi Warm Spring is a notable tourism and recreational  centre where warm and cold streams met in Ekiti.

The Ikogosi high chief said that the thunder struck during a torrential downpour between 4:00p.m. and 6:02p.m. on Saturday.

“The whole town shook when the thunder struck. Later, some commuters coming into town and those returning home from their farms saw the Fulani herders lamenting that it was the thunder that killed their cattle,” he said.

Also speaking on the incident, the Onikogosi of Ikogosi Ekiti, Oba Abiodun Olorunnisola, said that the herders were making spirited efforts to sell the dead cows to residents, saying that this portends health risk to his people.

The monarch said he already reached out to his colleague at Ipole Ekiti, Oba Oladele Babatola, on the need to warn their subjects against consuming such a desecrated meat.

“The two of us have alerted our subjects that there was an attempt to commence the sale of the cows and we are making concerted efforts to prevent the intending buyers,” he said.

The monarch, however, called on government to evacuate the carcasses of the cows to prevent spread of communicable diseases in the area.

The Police Public Relations Officer, Ekiti Command, Mr Sunday Abutu, said the incident was yet to be reported to the police because it was a natural occurrence.

“We have not been told, but if the owner of the cattle later realises that someone was responsible, he will report at the police station and we will surely rise to the occasion, if such happens,”the PPRO said.

Edited By: Wale Ojetimi
Source: NAN

https://nnn.ng/thunder-strikes-in-ekiti-kills-15-cows/
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General news

Kwara Governor commiserates with El-Rufai over death of Zazzau monarch

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Gov. AbdulRahman AbdulRazaq of Kwara on Sunday, commiserated with his Kaduna State counterpart, Mallam Nasir el-Rufai over the death of the  Emir of Zazzau, Dr Shehu Idris.


The governor sent the condolence message in a statement by his Chief Press Secretary, Rafiu Ajakaye, in Ilorin.

“I join our compatriots nationwide to commiserate with His Excellency the Governor of Kaduna State, Mallam Nasir el-Rufai and the Zazzau emirate on the painful death of the revered monarch who served his people meritoriously and built bridges of friendship and goodwill across the country.

“The death of the monarch is not just a national loss, but is also a personal loss to my own family which has a strong bond with the great Zazzau emirate under which  my late father, Alhaji AGF Abdul-Razaq (SAN) held the title of Tafidan Zazzau.

“On behalf of my family, the people and government of Kwara State, I condole with the people and government of Kaduna State and the immediate family of the Emir of Zazzau Dr Shehu Idris.

“May the Almighty Allah grant the monarch Al-Jannah Firdaus, and comfort his family and the entire people of the Emirate,” the statement added.

 

Edited By: Maharazu Ahmed
Source: NAN

https://nnn.ng/kwara-governor-commiserates-with-el-rufai-over-death-of-zazzau-monarch/
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