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May 23, 2023 Presidential Election Tribunal Consolidates Atiku, Obi and APM Petitions
IFMUYONEWS

Presidential Election Tribunal Consolidates Atiku, Obi and APM Petitions

The Presidential Election Petition Tribunal (PEPT) has elected to merge the three petitions filed by Alhaji Atiku Abubakar of the Peoples Democratic Party (PDP); Peter Obi of the Labour Party (LP), and the Allied Peoples Movement (APM).

The court, in a pre-hearing report issued and read today (Tuesday) by Justice Haruna Tsammani, the five-member panel of the court ordered the commencement of hearing in the petitions by Obi and his party on May 30, 2023.

The court also directed that the petitioners should conduct their case within three weeks, during which it should call its planned 50 witnesses, begining from May 30 when they shall begin to call witnesses and close in June 23.

The Election Tribunal stated that trial in the petition will end on August 5 when lawyers to parties are to adopt their final written addresses, following which a date will be set for judgment.

May 22, 2023 Dangote Refinery Produce to Hit Market in July, August 2023
IFMUYONEWS

Dangote Refinery Produce to Hit Market in July, August 2023

Alhaji Aliko Dangote, has said that the first tranche of petroleum products from the refinery will be supplied to the market by the end of July or the begining of August 2023.

Speaking at the commissioning of theintegrated refinery project located in the Lekki free trade zone area of Lagos State on today, Dangote described it as a milestone in a new and exciting trajectory for Nigeria’s oil and gas downstream sector.

“It is our firm commitment that we will replicate in this sector what we have actually achieved in the cement and fertilizer markets while Nigeria transformed from being the largest importer of these crude products to a net exporter,” he said.

“Our first goal is to ramp up projections of various production to ensure that within this year, we are able to fully satisfy our nation’s demand for higher quality products to enable us to eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic substandard petroleum products.

“Our first products will be in the market before the end of July, beginning of August this year.”

The refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.

The firm stated that the facility was designed to process a large variety of crudes, including many African crudes, some Middle Eastern crudes, and US (United States) Light Tight Oil, for local consumption as well as export.

May 19, 2023 Federation Account Allocation Committee Shares N655.93bn for April 2023
IFMUYONEWS

Federation Account Allocation Committee Shares N655.93bn for April 2023

The Federation Account Allocation Committee (FAAC) says it shared N655.93bn among the three tiers of government in April 2023, a decrease of N58.7bn from the N714.63bn shared in March 2023.

FAAC disclosed this in a communiqué issued at the end of its latest meeting in Abuja on Thursday.

The total amount includes gross statutory revenue, Value Added Tax, Augmentations from Forex and Non-oil Mineral Revenue, and electronic money transfer levies.

The Federal Government received N248.81bn, the states received N218.31bn, and the local government councils got N160.6bn, while the oil-producing states received N28.22bn as derivation (13 per cent of mineral revenue).

It was also noted that the gross revenue available from the Value Added Tax for the month of April 2023 was N217.74bn, with the cost of collection taking N8.71bn, and the rest was shared among the Federal Government, States and Local Government Councils.

The breakdown showed “From that amount, the sum of N8.71bn was allocated for Costs of Collection and the sum of N6.271 given for Transfers and Refunds. The remaining sum of N202.76bn was distributed to the three tiers of government of which the Federal Government got N30.41bn, the States received N101.38bn, Local Government Councils got N70.97bn.”

For the Gross Statutory Revenue, N497.46bn was received, with the sum of N18.79bn as the Cost of Collection and a total sum of N114.02bn for Transfers, Refunds and Consultancy fees.

The remaining balance of N364.65bn was shared with the Federal Government (N180.66bn), States (N91.63bn), and LGCs got (N70.65bn), while Oil Derivation (13 per cent Mineral Revenue) got N21.72bn.

The communique added that the sum of N15.12bn from the electronic money transfer Levies was distributed to the three tiers of government.

The breakdown for EMTL showed “the Federal Government received N2.18bn, States got N7.26bn, Local Government Councils received N5.08bn and the sum of N0.61bn was allocated to Costs of Collection.”

It added, “The Communique disclosed an Augmentation N50bn from Forex Equalization, which was shared as follows; Federal Government received N22.92bn, the States got N11.62bn, the sum of N8.96bn allocated to Local Government Councils, while the sum of N6.5bn given to Derivation (13 per cent of Mineral Revenue).

“Also, N24bn Augmentation from Non Mineral Revenue was shared accordingly. The Federal Government got N12.64bn, the States received N6.41bn, while the Local Government Councils got N4.94bn.”

It was noted that Petroleum Profit Tax, Companies Income Tax, Oil and Gas Royalties, Import and Excise Duties and Value Added Tax all decreased considerably, only Electronic Money Transfer Levy increased albeit marginally.

It added, “The balance in the Excess Crude Account as at May 18, 2023 stands at $473,754.57.

May 19, 2023 65 World Leaders for May 29 Inauguration
IFMUYONEWS

65 World Leaders for May 29 Inauguration

As the countdown to May 29 continues, 65 world leaders, including Heads of State, have been invited to grace the inauguration of the President-elect, Bola Tinubu, who will be sworn in as the 16th President of the Federal Republic of Nigeria on May 29, 2023 at a ceremony which would take place at Eagle Square, Abuja.

Also expected at the nation’s seventh transition ceremony are past presidents, diplomats, heads of international organisations and prominent Nigerians and representatives of foreign governments and agencies.

The inauguration programmes will begin on Thursday with the  investiture of Tinubu with  the  Grand Commander of the Order of the Federal Republic and  the Vice-President-elect, Kashim Shettima, as the  Grand Commander of Order of the Niger.

Unveiling the inauguration programmes,  Secretary to the Government of the Federation, Boss Mustapha,, who doubles as the Chairman of the  Presidential Transition Council, disclosed that Tinubu and the Vice President-elect, Kashim Shettima would be honoured with the Grand Commander of the Order of the Federal Republic and Grand Commander of Order of the Niger, respectively, on May 25.

Reeling out the activities for the event, he further disclosed that transition documents would be handed over to Tinubu and Shettima on the same day.

former president of Kenya, Uhuru Kenyatta, would deliver the inauguration lecture.

The lecture titled, ‘Deepening Democracy for Integration and Development’ would be held on May 27.

Other activities include the Regimental Dinner in honour of the Commander-in-Chief at the Armed Forces Officers Mess slated for Tuesday, May 23; the Valedictory Federal Executive Council Meeting at the Council Chambers inside the Presidential Villa on May 24; Public Lecture and Juma’at prayer at the National Mosque on May 26; Children’s Day Parade and Party on May 27 and an Inter-denominational Church Service at the National Christian Centre on May 28.

Also, the Inauguration Dinner/Gala Night at the State House Conference Centre is billed for May 28 while the inauguration/swearing-in of the president-elect and the vice president-elect will take place on May 29 accompanied by an inauguration parade at the Eagle Square.

There will also be a post-inauguration luncheon strictly for the President with his colleague Presidents, Heads of Government and guests at the State House Banquet Hall after the inauguration ceremony.

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