Federation Account: How They Share N872.6bn in July 2012 from Different Accounts

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicconfidential,  http://www.facebook.com/economicmagazine and   also Twitter : http://twitter.com/economicng

Federation Account: How They Share: N830bn in July 2012
A total sum of N830 billion being the statutory and VAT allocations was shared to all tiers of government at the meeting of the monthly Federation Account Allocation Committee (FAAC) in July, 2012. From the total disbursement of nets after deductions, the highest recipients are from the oil producing states with Akwa-Ibom receiving N17.5bn, Rivers N10.4bn Delta N13.1bn and Bayelsa N8.5bn. The highest recipients from non-oil –producing states are Lagos N13.9bn and Kano N10.9bn. The lowest recipients as revealed in the table below are Gombe N4.1bn, Nasarawa N4.1bn, Ebonyi N3.8bn and Ekiti N4.2bn. Read: http://economicconfidential.net/new/faacjuly2012.htm

Excess Crude: How They Share N35bn in July 2012
The Economic Confidential provides here the detailed table of the distribution of N35, 549, 235, 691 being a total sum shared to tiers of government at the monthly meeting of the Federation Account Allocation Committee (FAAC) in July 2012 from the Foreign Excess Crude Account being SURE-P for the month. It also features the application of derivation principle on oil and gas.See the table of the distribution: http://economicconfidential.net/new/financial/facts-a-figures/1072-excess-crude-how-they-share-n35bn-in-july-2012

NNPC Refund: How They Share N7.6bn in July 2012
The Economic Confidential provides here the detailed table of the distribution of N7, 617,431,250 being a total sum shared to States and Local Government Councils at the monthly meeting of the Federation Account Allocation Committee (FAAC) in July 2012 being the 11th Refund from the Nigerian National Petroleum Corporation.Click to view the table of the distribution: http://economicconfidential.net/new/financial/facts-a-figures/1071-nnpc-refund-how-they-share-n76bn-in-july-2012

FCT Generates N1.4b, Shares N1.72b Among Six Area Councils
The Federal Capital Territory Administration recorded internally generated revenue (IGR) of N1.472 billion for July 2012, the Minister of State for FCT, Oloye Olajumoke Akinjide, disclosed.Read: http://economicconfidential.net/new/news/national-news/1056-fct-generates-n14b-shares-n172b-among-six-area-councils

NEXIM Disburses N550 Million to Nollywood
Nigerian Import Export Bank (NEXIM) has financed the burgeoning Nigerian entertainment industry since 2010 with over N550 million, its Managing Director/CEO Mr. Roberts Orya has said.The support to the industry is partly being financed from NEXIM Bank's coffers and partly from the Federal Government's $200 million grants to the Nigerian entrainment industry.
http://economicconfidential.net/new/news/national-news/1057-nexim-disburses-n550-million-to-nollywood

Namadi Sambo: The Force Behind Disaster Management in Nigeria
In the last two years many achievement have been noticed in the area of disaster management in the country. While it is obvious that the credit over some of the accomplishments in tackling emergency and disaster situation should go to the management and staff of the agency, only few realize that successes of some of those bodies come through the unseen hands of their boards or governing councils as the case may be.Read: http://economicconfidential.net/new/features/1068-namadi-sambo-the-force-behind-disaster-management-in-nigeria

The Challenge of Growing Poverty In Nigeria
Terrible governments and (yes) citizens-supported corruption and other social problems have continued to plagued Nigeria. Many people suffer and die in the midst of abundance. Several have been forced into exile within and outside Nigeria. Insecurity and disease and crime alarmingly abound while few drain the collective coffers with impunity. Read: http://economicconfidential.net/new/features/1059-the-challenge-of-growing-poverty-in-nigeria

Still on the J.P. Morgan account
Nigerians still rue the unprecedented corrupt tendencies by those charged with the responsibility of managing public finance. At the centre of J.P. Morgan issue are the Nigerian National Petroleum Corporation and the Central Bank of Nigeria.According to the Executive Secretary of the Nigerian Extractive Industry Transparency Initiative, Hajia Zainab Ahmad, who blew the lid off on the issue on November 1, 2011, a substantial amount of money has been stashed in J.P. Morgan by the two government parastatals. Read: http://economicconfidential.net/new/features/1065-still-on-the-jp-morgan-account

For more, please visit our websites for more:

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com
www.economicconfidential.net

FERMA to Recruit 10,000 Nigerians as FIRS Revenue Hits N2.4Tr, More on Oteh's Wahala

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicconfidential,  http://www.facebook.com/economicmagazine and   also Twitter : http://twitter.com/economicng

FERMA to Engage 10,000 Nigerians for Road Maintenance- Engr. Adeniji
Engr. Ezekiel Olajide Adeniji is currently the Chairman of the Federal Road Maintenance Agency (FERMA). In an interview with the Economic Confidential discloses that his agency would recruit 10,000 Nigerians within the year for road maintenance while toll gates would also be reintroduced. Read: http://economicconfidential.net/new/interviews/1051-ferma-to-engage-10000-nigerians-for-road-maintenance-engr-adeniji

FIRS revenue hits N2.43t
The total revenue of Federal Inland Revenue Service (FIRS), which is generated through taxation in the first half of the year 2012, has increased to about N2.43 trillion. According the Director of Communications and Liaison Department, Mr. Emmanuel Obeta, the revenue generated was N499.2 billion more than the total collection of N1.94 trillion for the corresponding period last year.Read: http://economicconfidential.net/new/financial/tax-matters/1058-firs-revenue-hits-n243t

Aruma Oteh's recall: An avoidable liability for GEJ
It is clear that in taking this decision, the President did not think of the industry-wide implications; it is even doubtful if he factored into his thinking how such would affect his overall lingering image as a feeble leader in the battle against corruption. If he really thinks that Ms. Oteh is such an indispensable item in his calculus of political success, he is free to appoint her as a minister or, more fashionably, as a Permanent Secretary, following in the lofty footsteps of his wife's appointment as a Permanent Secretary in absentia by the Dickson administration in his homeland Bayelsa State. Read: http://economicconfidential.net/new/features/1066-aruma-otehs-recall-an-avoidable-liability-for-gej

Ejike Okpa: Nigerian Real Estate Practitioner in the Diaspora
Mr. Ejike Okpa, a public commentator and blogger. He would make an honorable entry in the archives of Texas as he would be commissioned by Texas Governor Perry as an Admiral in Texas Navy based on recognition of his Texas/Dallas community service. He is the first Black to be so recognized. By Fall 2012, a scholarship in his name would also be endowed by a group of Dallas business men at the University of North Texas, Denton, in recognition of his service. Read: http://economicconfidential.net/new/component/content/article/1050-ejike-okpa-nigerian-real-estate-practitioner-in-the-diaspora

Namadi Sambo: Between Loyalty and Humility
Going by his personality traits, he doesn't display aura of arrogance and desperation for public office as the Vice President. His public outings and statements are devoid of ulterior motives. His position on various issues, whether as representations of his Boss, the President, or personal remarks, are done maturely, responsibly and sometimes eloquently delivered in tune with the public sensitivity and reality on the ground. Read: http://economicconfidential.net/new/features/1069-namadi-sambo-between-loyalty-and-humility

CBN and the Ostrich
CBN also belatedly recognized that the excessive liquidity of the banks had provided opportunity for speculative activities in the forex market. Sanusi finally concluded that the product of banks' anti-economy activities is the reality of aggregate domestic credit declining by over 5% between June 2011 and June 2012. Read: http://economicconfidential.net/new/features/1052-cbn-and-the-ostrich

A clue for the clueless Country
Since we have 36 billion dollars as reserves – and we have 36 states – the government can use the money for the projects in each state before the money fizzles away. At least Nigeria will have something different from that of the previous century. But before you accost me, let me give reasons for suggesting this pedestrian theory. When Olusegun Obasanjo left power in 2007, Nigeria's foreign reserves were about 80 billion dollars. Obasanjo himself recently blamed his successors for squandering about 35 billion dollars from the reserves he left. Read: http://economicconfidential.net/new/features/1064-a-clue-for-the-clueless-country

AFRICOM for Peace or Destabilization
The Leading nations of Africa such as Nigeria and Egypt are going through one of the most trying political and social challenges bordering on security and sustainability. While many reasons have been discussed since, AFRICOM has recently attracted the attention of peace movements and other non-governmental advocates, for its increased military activities on the continent of Africa. Read: http://economicconfidential.net/new/features/1067-africom-for-peace-or-destabilization

Plateau, the media and 10 years of harvest of blood
Earlier, Ruben Abati, spokesman of President Jonathanissued a press release chorusing the claim that Senator Datong was shot and killed during the attack on the mourners. However, since the true version of the story and the correct identity of those behind the killings surfaced not much has happened to the previous accounts of the attack. For instance, no one has apologised for wrongly blaming Fulani herdsmen and the reckless reports that probably provoked reprisal attacks. Read: http://economicconfidential.net/new/features/1060-plateau-the-media-and-10-years-of-harvest-of-blood

Visit our websites for more:

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com
www.economicconfidential.net