Era of special bonuses over, Adeosun tells finance ministry workers


The three tiers of government shared a total of N305.128 billion for the month of May as the Federation Account Allocation Committee (FAAC) concluded its plenary in Abuja wednesday.

The increased allocation, which is N23.628 billion higher than the N281.500 billion shared on April was attributable largely to improved collections in mineral and non-mineral receipts.

Of the N305.128 billion shared, the federal government received N187.367 billion while the states and local governments got N95.035 billion and N73.268 billion respectively.

The sum of N18.423 billion is for 13 per cent Derivation to oil and gas producing states.

Briefing journalists at the end of the meeting, the Minister of Finance, Mrs. Kemi Adeosun, disclosed that the gross revenue available from the Value Added Tax (VAT) was N65.116 billion as against N65.259 billion distributed in the preceding month, resulting in a decrease of N0.143 billion.

She stated that the gross statutory revenue of N237.466 billion received for May was higher than the N213.817 billion in April.

Adeosun added that crude oil production and export dropped by about 2.3 million barrels in February due to Force Majeure declared at Forcados Terminal, Shut-in and Shut-down of pipelines at other terminals for repairs.
“As a result, Federation export revenue declined by $57.88 million even though the average price crude oil increased from N$29.02 in January to $32.26 in February, 2016.

“Company Income Tax (CIT) recorded a marginal increase even as the time for companies to file their returns is yet to fall due,” the minister stated.

She also disclosed that the Nigerian National Petroleum Corporation (NNPC) refunded the sum of N6.330 billion while an exchange gain of N2.546 billion was recorded.

The Excess Crude Account (ECA) balance also stands at $2.261 billion.

Meanwhile. protesting workers continued their siege at the Ministry of Finance headquarters insisting that the minister addressed their demand for an outstanding N1.2 billion ‘Special Overtime Allowance.’

Adeosun who was forced to address the irate workers, said the era of special bonuses was gone, adding that it was practically impossible to approach President Muhammadu Buhari with the workers’ demand.

As the minister spoke about the difficulty in meeting their demand, the workers asked her to raise funds from what they called ‘below-the-line’ source.
The workers have therefore given the minister seven days to address their demand, failure which the protests would resume.

NB: Hope our Governors will do the needful with Salaries from this huge allocation o cos WE DEY ROAST

O my goodness! Dickson of Bayelsa you have no excuse of not paying your seven months salary to workers.

Ftc!

Good one though!

zico530:
O

Nawao, na 8G u de use. Must u buy land ontop my head.

Wetin those governors dey take money do self.. na only allocation we dey here, no development apart from few states

Let me wait here for some people to start crying "our land has been destroyed without corresponding development". The governors get the fund and loot them while the misinformed citizens attack FG.

For how long shall we continue with this feeding bottle system?

good news 4 my dear Rivers people.

Sharing things
Hoping that Governors of Nasarawa,Kwara, Oyo and Osun can now pay their worker's salary.

DonBobes:


Nawao, na 8G u de use. Must u buy land ontop my head.

For your mind you be fast guy abi?

zico530:
For your mind you be fast guy abi?

Op correct your slf 17.8b for Akwa Ibom not 7.8b

hansyllo:
Op correct your slf 17.8b for Akwa Ibom not 7.8b

I've done the needful. Than you

We are selling our future for today.

Free oil money has made us lazy. I pity the SS region in 60 years to come when most of the reserves have been depleted.

I pity other regions too because then, all eyes will be on their resources as it has been on the niger delta and there is nothing they can do.

It is time for the federal and state government to take out time and restrategize. We need to develop our manufacturing sector, invest in technology and industrialization.

We should come up with a program which aims at phasing out foreign imports....one product at a time. Items that can be manufactured locally. We should open up information. For e.g A list of the most imported items should be readily available online so as to raise investors interest.

They will come a time when we look back at where we are, and we have achieved nothing. We will have nothing to hand over to our children.


The oil money will be shared. The government officials and politicians will get the bulk of it. Their kins will squander it in foreign lands. The crumbs will get to you and you get lazy and unproductive. At the end we all lose. It is time to wake up.

Let them pay workers

Interesting

how much is osun getting o. make aregbe pay full this time around. abeg

I am comming

Bolustic:
As expected, the South South has collected their well deserved fair share. Nobody hear any complaints now.

But after the money has been squandered by their governors, the chants of marginalisation starts.

SSers should hold their governors accountable, Bayelsa and Rivers shouldn't have any business owing workers.

It's unbridled corruption that's killing the SS not the northerners.

U started making sense from ur second paragraph. Did u actually say WELL DESERVED FAIR SHARE??
So itz FAIR & WELL DESERVED 4 u 2 provide 90% and share it between ur friends & enemies. Even if ur given 13% more than others?

Mimiko ooooooh
Come pay my salary ooooooh
Since

No more excuses from our governors

oganology33:


U started making sense from ur second paragraph. Did u actually say WELL DESERVED FAIR SHARE??
So itz FAIR & WELL DESERVED 4 u 2 provide 90% and share it between ur friends & enemies. Even if ur given 13% more than others?

will you keep quiet with your nonsense? the money given to them isn't more than non oil producing state why can't their governor do the right thing

I hope the various governors will do the needful, this is a welcome development, i pray it only gets beta

#GOD_BLESS_NIGERIA

This is an old 2006 article though..

good

How much did oyo state get? Been searching for a comprehensive breakdown given to all states.. Noticed all online media have these same report.. Word for word copy and paste bloggers... Jonalism is dead...

How can Nigeria develop at this rate.......by sharing and not multiplying....so this is the diversification we seek


Pathetic ...

Hmmm, I hope the wailers hold their governors accountable, it's easier that way than turning on the fg

O boy this month go make sense oo..see cash. Oops


25 billion for our Rivers state? Rivers State belongs to all of us. Rivers money working for Rivers people and Rivers people are happy!

Where is Osun NEpa bill allocation