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Tag: may

  • BREAKING: FG declares May 1 public holiday

    The Federal Government has declared Friday, May 1, 2020 as public holiday to mark this year’s International Workers’ Day Celebration.

    The Minister of Interior, Ogbeni Rauf Adesoji Aregbesola, made the declaration on behalf of the Federal Government.

    According to a statement signed by the Permanent Secretary of the Ministry, Barrister Georgina Ehuriah, Aregbesola commended Nigerian workers for their resilience, patience and understanding.

    He particularly praised the workers for their support of the President Muhammadu Buhari Administration’s efforts at stemming the spread of COVID-19 pandemic in the country.

    Aregbesola, who further thanked Nigerians and the labour force for their sacrifices in the present period of trial, assured that their commitment and patience will complement the efforts being made by Government and other stakeholders to ensure the speedy control of the virus.

    He said that with the cooperation of every citizen as well as strict adherence to the measures being put in place by relevant authorities, the challenges being faced by Nigerians as a result of the disease would soon be put behind.

    The Minister expressed optimism that the economy of the country will rebound and be stronger after the COVID-19 experience, taking cognizance of the various economic stabilisation efforts by the Federal Government. He therefore, called on Nigerians to remain calm and be hopeful.

  • FG, States, LGAs share N679.699bn in May

    FG, States, LGAs share N679.699bn in May

    A total of N679.699 billion has been distributed as Federal Allocation for the month of May, 2019 between the Federal Government, State Governments and Local Government Councils.

    The communiqué issued by the Technical sub -Committee of Federation Accounts Allocation Committee (FAAC) at the joint session held at the African House of the Kano State Government House after the 3rd Treasury Workshop and read by the Accountant General of the Federation (AGF), Ahmed ldris, said, that the Gross statutory revenue received is N571.731 billion which is higher than the N518.916 billion received in the previous month by N52.815 billion.

    Revenues from Oil Royalty and Companies Income Tax (CIT) improved tremendously while Petroleum Profits Tax (PPT) decreased significantly. Import Duty and Value Added Tax (VAT), only recorded marginal increases.

    The distributable Statutory Revenue for the month is N571.731. The total revenue distributable for the current month (including VAT and Exchange Gain Difference) is N679.699 billion.

    Therefore, from the Net Statutory Revenue, Federal Government received N284.163 billion representing 52.68%; States received N187.605 billion representing 26.72%; Local Government Councils received N140.997 billion representing 20.60%; while the Oil Producing States received N40.436 billion also representing 13% derivation revenue.

    The Cost of Collection, Transfer and FIRS Refund comes up to N26.498 billion.

    Furthermore, the gross Revenue available from the Value Added Tax (VAT), was N106.826 Billion as against N96.485 Billion distributed in the preceding month, resulting in an increase of N10.341 Billion.

    The breakdown of the distribution has the Federal Government receiving N15.383 billion representing 15%; the States received N51.277 billion representing 50% while the Local Government Councils received N35.894 billion also representing 35%.

    The balance on Excess Crude Account is $63 Million.

  • US President Trump backs Boris Johnson as next British prime minister

    US President Trump backs Boris Johnson as next British prime minister

    US President Donald Trump has again waded into British domestic politics, giving his opinion on who he thinks would be a good successor to current Prime Minister Theresa May, who is set to resign on June 7.

    “I have actually studied it very hard. I know the different players,” he told The Sun tabloid in an interview published late on Friday.

    “But I think Boris would do a good job,” he said, referring to New York-born former London Mayor Boris Johnson, who also served as British foreign secretary. “I think he would be excellent.”

    Trump told the newspaper that his endorsement had also been sought by other candidates for the position and that his good opinion would vastly raise any candidate’s chance of being chosen.

    “I don’t want to say who but other people have asked me for endorsements, yes,” he said. “I could help anybody if I endorse them. I mean, we’ve had endorsements where they have gone up for forty, fifty points at a shot.”

    As in an interview before his first official visit to Britain last year, the US leader once more criticized the present prime minister, saying May had failed to assert British interests enough in negotiations to leave the European Union.

  • BREAKING: British PM, May suffers setback on Brexit procedure in parliament

  • NNPC declares N18bn Trading Surplus in May, supplies 1.2b litres of fuel

    A trading surplus of N18.12 billion was achieved for the month of May 2018 by the Nigerian National Petroleum Corporation (NNPC), a statement from the agency disclosed on Monday.
    This was relatively higher than the trading surplus of N17.16 billion recorded in the preceding month, with the additional monthly trading surplus of N960 million mainly due to increased performance of some of the corporation’s subsidiaries like the Nigerian Petroleum Development Company (NPDC), Petroleum Products Marketing Company (PPMC), Nigerian Pipelines and Storage Company (NPSC) and Marine Logistics.
    Details of the transactions contained in the recently released May 2018 edition of the Monthly NNPC Financial and Operations Reports also indicated that within the period, the NNPC Group performance was mainly impacted by NPDC’s performance which recorded a favourable variance of N18.22 billion due to increase in revenue with parallel decrease in expenses, resulting in N20.93 billion net increase in the upstream gas and power surplus.
    Overall, the report indicated that the increase in performance was bolstered by the relatively high production volumes of 1.97 million barrels per day in April 2018 which was sold in May 2018 thereby reducing cost per unit.
    Under the national crude oil and natural gas production, lifting and utilization segment, the report noted that 58.96 million barrels of crude oil and condensate were produced in the month of April 2018 representing an average daily production of 1.97 million barrels. This represents 1.02 per cent increase compared to the preceding month.
    A breakdown of the production figure indicated that Joint Ventures (JV) and Production Sharing Contracts (PSC) contributed about 32.82 percent and 41.77 percent respectively, while Alternative Financing (AF), NPDC and Independents accounted for 14.68 percent, 7.65 percent and 3.08 percent respectively.
    It was also indicated that the NPDC’s cumulative production from all fields within the period amounted to 47,759,229 barrels of crude oil which translated to an average daily production of 120, 909 barrels per day.
    In terms of national gas production, the 34th NNPC Financial and Operations Report highlighted that 231.59 Billion Cubic feet (BCF) of natural gas was produced in the months of May, 2018, translating to an average daily production of 7,785.01 Million Standard Cubic Feet per day (MMSCF/D).
    In the downstream sub-sector, NNPC continued to ensure increased petrol supply and effective distribution across the country.
    In May 2018, 1.19 billion litres of petrol were supplied by NNPC, translating to 40.59mn Liters/day to sustain seamless distribution of petroleum products which resulted to zero fuel queue across the nation.
    In the month under review, the corporation continued to monitor petrol evacuation figures from depots across the nation, and engaged, where necessary, the Nigerian Customs Service (NCS) and other stakeholders through existing Joint Monitoring Team.

  • Full Analysis: FG, States, LGs share N462bn for May

    Full Analysis: FG, States, LGs share N462bn for May

    A total of N462.359 billion has been distributed as Federal Allocation for the month of May 2017 to the Federal Government, State Governments and Local Government Councils.

    This is contained in a communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting held Thursday in Abuja.

    The statement signed by the Ag. Accountant General of the Federation was made available to newsmen by Mrs Kenechukwu Offie, Director of Information, OAGF.

    It indicated that the gross statutory revenue of N317.562 billion received for the month is higher than the N274.110 billion received in the previous month by N43.452 billion.

    It said, “The slight drop in the average price of crude oil from $55.38 to $55.18 per barrel and a decrease in export volume by 1.023 million barrels, reduced oil revenue by $57.12 million.

    “Crude oil production suffered due to leakages, sabotage, shut-ins and shut-downs at Terminals for maintenance and the Force Majoure declared at Forcados Terminal since February, 2016 subsisted.

    “There were significant increases in revenues from Companies Income Tax and Oil Royalty, however, the increase in customs and excise duty was marginal. The distributable Statutory Revenue for the Month is N317.562 billion.

    “There is a proposed distribution of N64.812 billion being the exchange rates differential. The total revenue distributable for the current Month (including VAT) is N462.359 billion.

    “The shared amount comprised the Month’s Statutory distributable revenue of N317.562 billion, the gross revenue available from the Value Added Tax (VAT) was N79.985 billion as against N84.673 billion distributed in the preceding month, resulting in a decrease of N4.688 billion.

    “The total revenue distributable for the current month (including VAT) is N462.359 billion.

    “Accordingly, from Net Statutory revenue, Federal Government received N147.682 billion representing (52.68%); States received N74.906 billion (26.72%); Local Government Councils received N57.750 billion representing (20.60%); while the Oil Producing States received N20.505 billion as 13% derivation revenue.

    “Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N11.518 billion (15%); States received N38.393 billion (50%) while the Local Government Councils received N26.875 billion (35%).”

     

  • May condemns London attacks, which left 7 dead, over 40 injured

    May condemns London attacks, which left 7 dead, over 40 injured

    British Prime Minister Theresa May condemned the “evil ideology” behind the London terror attacks that left at least seven dead and more than 40 injured late Saturday night.

    May addressed the attack Sunday after a meeting of the government’s COBRA emergency committee. In her speech, May called for a tougher stance at home against extremists and tougher controls on cyberspace to prevent its use by extremists.

    She added that the measures were needed as “terrorism breeds terrorism” and attackers copy each other.

    Police on Sunday raided the home of one of the attackers in east London and detained several people, Sky News reported.

    UK police said Sunday that 12 people were arrested in east London in connection with the attack.

    “Searches of a number of addresses in Barking are continuing,” London Metro Police said at 1 p.m. Sunday local time.

    Saturday’s horror began around 10 p.m. local time when a white van veered off the road and barreled into pedestrians on London Bridge. Three men jumped out of the van with large knives and attacked people at bars and restaurants in nearby Borough Market, police and witnesses said.

    The three attackers were wearing fake bomb vests, according to local media.

    May, who faces election Thursday, confirmed that 48 people were being treated in hospitals across London and many had life-threatening injuries. The city’s ambulance service said 80 medics responded to the scene.

    British Transport Police added that one officer suffered serious injuries responding to the attack, but was expected to survive. The officer suffered wounds to the head, face and leg.

    France Prime Minister Emmanuel Macron confirmed that some of the wounded included French nationals.

    London Metropolitan Police force declared the attacks “terrorist incidents.” Assistant Commissioner Mark Rowley said that while they believe all the attackers were killed, the investigation continued.

    “We believe three people were involved, but we still have got some more inquiries to do to be 100 percent confident in that,” he said.

    As dawn broke over the capital, a large area on the south bank of the River Thames remained cordoned off. Police told people to avoid the area, leaving tourists and revelers struggling to get home. Police were also conducted raids around the area.

    Only hours before, bursts of gunfire echoed through the streets — likely from armed police — and at least three blasts rang out as officers performed controlled explosions. One image taken by a witness showed a man on the ground surrounded by police; he appeared to be wearing a vest with canisters attached to it.

    “The suspects were wearing what looked like explosive vests,” Rowley said. “But these were later established to hoaxes.”

     

    Source: FOX News

  • British PM, May meets queen, marks dissolution of parliament

    British PM, May meets queen, marks dissolution of parliament

    British Prime Minister Theresa May is on Wednesday met Queen Elizabeth II at Buckingham Palace to officially inform her of the dissolution of Parliament.

    Her meeting with the 91-year-old monarch today marks the formal start of campaigning for the June 8 general election even though all political parties have already begun canvassing.

    Under the British law, the Parliament must be dissolved at least 25 working days before a general election.

    However, the Parliament is “prorogued” several days ahead of being dissolved, meaning all parliamentary business stops but the Parliament still technically exists until dissolution.

    After the dissolution, every seat in the 650-member House of Commons becomes vacant and members of parliament temporarily lose all privileges associated with their station.

    But MPs with ministerial positions continue with their duties until the elections.

    May, who received the Parliament’s backing last month to hold snap polls, is currently leading in most opinion polls to win a majority mandate for her Conservative party which, she believes, needs to carry Brexit negotiations forward.

    Her decision to hold a snap general election took everyone by surprise, including the queen who will have to “dress-down” for the new UK Parliament opening next month due to shortage of time to rehearse for the event.

    The British monarch is responsible for the ceremonial opening of Parliament business every year, which involves considerable pomp and ceremony including being dressed up in flowing robes.

    However, this time the queen will wear a day dress and hat for the ceremony and not the imperial state crown as she delivers the queen’s Speech outlining the government’s plans for the year ahead on June 19.

    The date also means that the queen has had to cancel the Order of the Garter ceremony when she hands over royal medals at Windsor Castle, for the first time in 30 years.

    Buckingham Palace said in a statement that “to allow her majesty to attend in support of the parliamentary and constitutional process, the queen’s programme of engagements has been revised.

    “As a result, the annual service for the Order of the Garter, which had been due to take place on 19th June, has been cancelled. Additionally, owing to the revised calendar, the state opening of the Parliament will take place with reduced ceremonial elements”.