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FAAC: FG, states, LGAs share N640bn for January

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The three tiers of government, the federal, state and local governments, have shared N640.31bn as revenue for January.

The amount, coming from the Federation Accounts Allocation Committee, is the highest revenue to be shared in the last three months. It is higher than the N619bn shared in December or the N601bn in November 2020.

A communique released by FAAC said the amount shared by the three tiers included cost of collection to different revenue agencies involved.

These are the Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS).

In accordance with the sharing formula, the Federal Government received N226.998bn; the states, N177.171bn and the LGAs got N131.399bn.

Oil producing states received N26.777bn as derivation (13 per cent of mineral revenue) and cost of collection/transfer and refunds got N75.966bn.

The communique also stated that the Value Added Tax (VAT) for January was N157.351bn, which was lower than the N171.358bn in December 2020.

“The distribution is as follows: Federal Government got N21.950 billion, the states received N73.168 billion, LGAs got N51.218 billion, while Cost of Collection – FIRS and NCS got N11.015 billion.

“The distributed statutory revenue of N482.958 billion received for the month was higher than the N437.256 billion received for the previous month by N45.703 billion.

“From this, the Federal Government received N205.047 billon, states got N104.003 billion, LGAs got N80.162 billion, Derivation (13 per cent Mineral Revenue) got N28.777 billion and Cost of Collection/ Transfer and Refund got N64.951 billion.”

The communique added that Companies Income Tax (CIT) and Oil and Gas Royalty, VAT, and Excise Duty recorded marginal decreases.

Import Duty was an exception as it increased marginally; Petroleum Profit Tax (PPT) also recorded a considerable increase, it stated.

The balance in the Excess Crude Account as of February 18 was $72.412m.

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Business

FG extends NIN-SIM linkage deadline till Oct 31

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The Federal Government has again approved the extension of the deadline for NIN-SIM data verification to October 31, the sixth extension since December last year.

A joint statement by the Nigerian Communications Commission and the National Identity Management Commission on Sunday said the decision to extend the deadline was made following a request by stakeholders to accommodate registration in hard-to-reach remote areas, foreigners and diplomatic missions and Nigerians in diaspora.
The statement signed by NCC’s Director of Public Affairs Ikechukwu Adinde and NIMC Head of Media Kayode Adegoke also said the extension would address low enrolments in schools and hospitals, as evidenced by enrolment statistics.

“It also followed a review of the progress of the exercise which indicated significant progress hence the need to consolidate the gains of the enrolment and NIN-SIM verification process across the country”, the officials said.

As at Saturday 24 July, Adinde and Adegoke said, there are over 5,500 enrolment systems within and outside the country “and this would significantly ease the NIN enrolment process and subsequent linkage of NIN to SIM.”
They said President Muhammadu Buhari has approved the extension as part of efforts to make it easier for Nigerians within and outside the country, and legal residents to obtain the NIN.
The statement urged Nigerians to take advantage of the extension to avoid their mobile lines from being blocked after the expiration of the exercise.

It said: “The NIN-SIM linkage also makes it easier for the security agencies to carry out their statutory duties and the relevant parastatals under the Ministry of Communications and Digital Economy are supporting them as required.”The statement by Adinde and Adegoke also revealed that there are now a total of 59.8 million unique NIN enrolments, with average of 3 to 4 SIMs per NIN.

” With the great number of enrolment centres within and outside the country, and many more coming up, every citizen, legal resident, and Nigerian citizens living in diaspora should be able to obtain their NINs,” they said.

The statement quoted the Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami as commending the Kano State government and other states that have made NINs a key requirement for school enrolments and access to other important services.

It added: ” The Federal Government is also excited at the news that the use of NIN in the process of the Joint Admissions and Matriculation Board (JAMB) exam significantly reduced the challenge of exam malpractice.

states that have made NINs a key requirement for school enrolments and access to other important services.
It added, ” The Federal Government is also excited at the news that the use of NIN in the process of the Joint Admissions and Matriculation Board (JAMB) exam significantly reduced the challenge of exam malpractice.

The minister, on behalf of the Federal Government, appreciates Nigerians for their patience and compliance with the Federal Government’s directive on the NIN-SIM registration exercise. Similarly, the Executive Vice Chairman of the Nigerian Communications Commission, Prof Umar Garba Dambatta, and the Director-General/CEO of that National Identity Management Commission, Engr Aliyu Azeez, urge citizens and legal residents to make sure they use the opportunity to complete the process of enrolment and verification before the October 31st deadline.”

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Business

Lagos to set up housing trust fund

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…..Proposed Workers’ Village gathers steam

 

By Dada Jackson

 

In a bid to make housing accessible to the less privileged in Lagos State,and in line with the transformation agenda of the Mr. Babajide Olusola Sanwo-Olu administration, especially in the area of housing, the Lagos State Government is working on plans to increase access to decent and quality homes for them.

This is as the state government is planning to providing houses for some of its workers to be known as Workers’ Village.

The Commissioner for Housing, Hon. Moruf Akinderu-Fatai disclosed this during a site inspection of some of the ongoing State owned Housing Schemes.

His words “Having successfully completed and commissioned 10 housing estates in the past two year, and working hard to deliver our various ongoing schemes, we are moving forward to implement strategies that will improve access to decent homes in the State”.

According to him,the State Government had completed various Housing schemes located at Igando, Lekki Phase1, Lekki Phase 2, Igbokushu, Nob Oluwa, Idale Badagry, Iponri, Igbogbo amongst others,adding that work on six others sited at Odo-Onasa/Ayandelu, Resettlement Scheme Agbowa, Sangotedo Phase1, Omole Magodo, Gbagada and Ibeshe which is being built by the Lagos State Property Development Corporation were nearing completion.

The Commissioner pointed out,that hopefully, the six schemes that are at various stages of completion in Odo Onasa-Ayandelu, Agbowa Resettlement Scheme, Sangotedo,Omole/Magodo, Gbagada and Ibeshe would soon be commissioned while others at LASU Ojo, Egan- Igando and Sangotedo Phase2 were also receiving attention towards a speedy completion.

He said that these schemes with others at Itamarun Epe and Ajara in Badagry as well as joint venture schemes would yield over 7000 homes by the third anniversary of the present Administration.

He said that the positive impact of governmental intervention is hampered by the twin issue of high cost of funding for investors and people seeking home ownership through mortgage.

The Housing Commissioner noted that the State Government was looking into the issue of accessibility of decent homes through a multidimensional approach that would reduce these financial barriers to housing.

He disclosed that the State Government is fine tuning a financial mechanism tagged Lagos Affordable Housing Development Trust Fund. This according to him is a financial product that would bring succour to both property developers and intending home owners.

Akinderu-Fatai said ‘ the Fund will reduce the challenge of

financing housing development as well as empower people particularly the low and medium income earners to access housing without undue financial stress.

He underscored the fact that the housing challenge in Lagos is complex because of the continued and uncontrollable influx of people from all over the nation. He noted that given the rate at which the population of the State is increasing, there must be proactive measures to ensure that governmental interventions result in substantial positive impacts in the lives of the people.

He also reiterated that the Lagos Affordable Housing Development Trust Fund which is being prepared in collaboration with Arctic Infrastructures is the State’s response to the need for financing products that are domesticated to solve it’s peculiar housing challenges.

He said while global financing models are attractive, they may not address the unusual problems of Lagos State.

The Commissioner pointed out that provision of mass and social housing is a key agenda of the State government but the impact can only be felt when there is a structured financing mechanism that is based on predictable population growth.

Apart from the Rent to Own scheme which gives opportunity of repayment over a period of 120 months, the State is also looking at more workable financing options that will help the informal sector.

” We have to formalize the informal sector through cooperative associations and artisans guilds so that majority of our people can take advantage of a financing product that supports instalmental payments”.

The Commissioner also said that the fund would encourage more vertical construction of homes by government and private investors to optimize the land space available in the state.

Akinderu Fatai siezed the opportunity to point out that the commitment of the State government is unequivocal and that “Lagos State would continue to work relentlessly until more Lagosians are brought on the home ownership ladder. Building more homes is our way of improving standard of living , increasing economic engagement through provision of construction jobs and also opening up our rural areas”

He said the State Government plans to construct two workers villages as part of a global plan to transform the State into a 21st century economy that is distinct and comparable to others in the world.

“In line with our passion for progress in the sector, funding is needed and assistance from our development partners will be highly appreciated.” he said

The Permanent Secretary Ministry of Housing Mr Wasiu Akewusola, said that “the uniqueness of the financing package is the fact that it will be targeted at low income earners and the informal sector and can be accessed by both construction companies and homeseekers and will be made up of contributions made by both public and private sector. The fund will also cater to training and capacity building and upgrading of artisans, development of innovative building technology, sustenable housing developments and renewable of slums. The suggested funding from government is expected to be sourced from contributions by local governments, subventions, infrastructure development charge, Housing fund surcharge and Lagos Pension fund. Private sector contributions can be in form of grants and donations from both local and international organizations. ”

In disbursing the fund, Akewusola said, “part of the financing would be used as Housing loans with repayment plan of 20years. This will channeled through micro finance banks with cooperative societies serving as intermediaries”. “Construction fund will also be granted to developers having vertical construction with sustenable energy idea, he discloses.

He noted that the idea of a Trust for the financial product is to ensure accountability, credibility and sustenablity.

Other plans that are being worked out by the State include an allocation structure that will reach the masses so that homes are not hijacked by the rich, continued maintenance of existing schemess to prevent rapid dilapidation, provision of homes for young professionals, introduction of cost saving techniques to reduce cost of building homes and increasing sustenability of future Housing schemes.

 

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I don’t need your cheques, Buhari tells contractor

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President Muhammadu Buhari on Friday charged contractors who have enjoyed government patronage as well as other privileged citizens to use their resources to support less privileged members of society.

 

President Buhari gave the charge when he paid a visit to the Emir of Daura, Dr Umar Faruk Umar.

 

He said passing gifts and ‘cheques’ to people in authority or already comfortable to buy favour is not the right approach.

 

According to a statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, President Buhari challenged beneficiaries of government patronage to go to their respective communities and engage in corporate social responsibilities.

 

The President said: “I don’t want your cheque. Go and assist our communities” instead of trying to return kickbacks to public officers, including his office.

 

“We don’t want cheques from anyone or organisation as returns or influence of any kind. Let them remember their Corporate Social Responsibilities,” he said.

 

The President noted he would love to visit Daura more frequently but for the high cost of presidential movements and exposing security personnel to the weather, assuring his heart remains with the people.

“We are known for farming and I have my farm here. I could come every two weeks and no one can stop me.

“But the cost to the movement is high. I would rather that it be used to better our schools, clinics and hospitals,” said the President.

The President said the grace of God had kept Nigeria together as a country in spite of differences that led to a 30-month civil war

 

“We want to thank God always for keeping us together as a country. From January 15, 1966, the country was thrown into political crisis. We had a 30 months civil war that resulted in the loss of about a million lives.

 

“We still thank God for keeping us together. We remain grateful to all those who showed interest in our unity and progress. May God continue to bless them,” he added.

 

The President, who recalled fond memories of visiting the Palace as a military Head of State, expressed happiness that the warmth and hospitality of the traditional institution had been sustained over the years.

 

At the meeting, the Emir publicly announced conferment of the title of Talban Daura on Yusuf Buhari, son of President Buhari.

 

He said a date would be announced for the turbaning ceremony of the President’s son, which might likely be before his marriage.

 

The Emir also announced creation of a District in the community of the President, with headquarters in Dimurkol.

He said the turbaning of younger Buhari and creation of the District was to further extend and deepen the long relationship between the Palace and the family.

 

He said the decision was in agreement with the kingmakers in Daura Emirate Council.

 

During the visit, the Palace used the opportunity to clarify the difference between two titles, Talban Hausa, given to Alpha Conde, the President of Guinea and Talban Daura designated for Yusuf, the President’s son.

 

The Palace explained that Daura, as the linchpin of the Hausa society had conferred titles that have bearing on the Hausa Kingdom and those that are specific to the Emirate.

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