Revenue sharing formula in nigeria. Minimum wage: FG to review revenue sharing formula 2019-02-21

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FG To Review Revenue Sharing Formula Over Minimum Wage

revenue sharing formula in nigeria

The governors are asking for a review of the revenue sharing formula, and government is looking at that. Discussions are still ongoing and will terminate on 22nd January when we meet with the National council of state. AllAfrica publishes around 700 reports a day from more than and over , representing a diversity of positions on every topic. The Federal Government agreed to pay N24, 000 and the governors proposed N22, 500. Report by Accountants-General in the Federation.


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Minimum wage: Revenue sharing formula for review

revenue sharing formula in nigeria

Formula for distribution between the Federal and State Governments. The tripartite committee on minimum wage, chaired by former Head of Service of the Federation Ms. Act for the development of the mineral producing areas, in accordance with such directives as may be issued in that behalf, from time to time by the National Assembly, and the fund shall be distributed among the areas on the basis of need, subject to section 7 of the Niger Delta Development Commission Establishment, etc. We will be meeting with the Council of State on Tuesday January 22. The Minimum Wage Technical Advisory Committee that was inaugurated recently is looking into the revenue sharing formula. The governors are asking for a review of the revenue sharing formula, and government is looking at that. Recall that series of meetings between the Minister of Labour and Employment, Chris Ngige, and the leadership of the organised labour, had culminated in a decision to forward the new wage bill to the National Assembly on or before January 23.

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FG to review revenue sharing formula over minimum wage

revenue sharing formula in nigeria

The consultative meeting is expected to hold on Tuesday next week. Ama Pepple, recommended N30, 000 in their report. The Federal Government is considering a review of the revenue allocation formula. To address comments or complaints, please. The committee, which was given one month to submit its report, will advise the Federal Government on new sources of funds and ways to implement the initiative in a sustainable manner.

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Minimum wage: Revenue sharing formula for review » NaijaGoodies

revenue sharing formula in nigeria

We will be meeting with the Council of State on Tuesday, January 22. But Minister of Labour and Employment, Dr. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. The amount standing to the credit of the Federation Account, less the sum equivalent to 13 per cent of the revenue accruing to the Federation Account directly from any natural resources as a first line charge for distribution to the beneficiaries of the derivation funds in accordance with the Constitution shall, be distributed among the Federal and State Governments and the Local Government Councils in each State of the Federation on the following basis, that is to say- a the Federal Government 56. After that, we will be able to say where we are going.

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Minimum Wage: FG convenes Council of State on revenue sharing formula

revenue sharing formula in nigeria

Distribution of the Federation Accounts, etc. After that, we will be able to say where we are going. Allocations under special Funds 1 An amount equivalent to 1 per cent of the Federation Account shall be allocated to the Federal Capital Territory. Discussions are still ongoing and will terminate on 22nd January when we meet with the National council of state. President Buhari recently inaugurated an advisory technical committee for the implementation of the proposed wage.

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FG to review revenue sharing formula over minimum wage

revenue sharing formula in nigeria

The body advises the president in the exercise of his powers with respect to national population census and compilation, publication and keeping of records and other information concerning the same; prerogative of mercy; award of national honours; the Independent National Electoral Commission including the appointment of members of that commission ; the National Judicial Council including the appointment of the members, other than ex-officio members of that Council , and the National Population Commission including the appointment of members of that commission. While labour mounted pressure on the government, using a warning strike, the governors proposed to pay N22,500 whereas the Federal Government had settled for N24,000 until the national tripartite committee, chaired by former Minister of Housing and Urban Development, Ama Pepple, agreed to N30,000 as proposed by labour. President Buhari recently inaugurated an advisory technical committee for the implementation of the proposed wage. Governors seem to be making progress in their age-long battle for a new revenue formula. Short title This Act may be cited as the Allocation of Revenue Federation Account, etc.

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Minimum wage: FG to review revenue sharing formula

revenue sharing formula in nigeria

Labour has given the Federal Government up till January 23 to send the New Minimum Wage Bill to the National Assembly for consideration and passage. Indications emerged on Thursday that the Federal Government may have decided to review the revenue allocation sharing formula to enable states meet the new minimum wage proposal pegged at N30, 000. Among the governors who mooted the idea of a review of the revenue sharing formula to enable states adequately cater for their workers was Governor David Umahi of Ebonyi State. The tripartite committee on minimum wage, chaired by former Head of Service of the Federation Ms. Proportion of revenue to be paid by each State to State Joint Local Government Account 1 In addition to the allocation made from the Federation Account under section 1 of this Act to Local Government Councils, there shall be paid by each State in the Federation to the State Joint Local Government Account as specified in subsection 5 of section 162 of the Constitution of the Federal Republic of Nigeria in each quarter of the financial year, a sum representing 10 per cent of the internally-generated revenue for that quarter of the State concerned. Among the governors who mooted the idea of a review of the revenue sharing formula to enable states adequately cater for their workers was Governor David Umahi of Ebonyi State. Chris Ngige, who was the conciliator between organised labour and the Federal Government, said the Council of State would take a decision on the matter next week.


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Nigeria's federal government to review revenue sharing formula over minimum wage

revenue sharing formula in nigeria

The Federal Government is considering a review of the revenue allocation formula. Distribution of the Federation Accounts, etc. All this is coming after the constitution of the Presidential Advisory Committee chaired by renowned economist and financial expert, Bismarck Rewane, which President Muhammadu Buhari inaugurated recently. Ama Pepple, recommended N30, 000 in their report. The Minimum Wage Technical Advisory Committee inaugurated recently is looking into the revenue sharing formula. We will be meeting with the Council of State on Tuesday, January 22.


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Minimum Wage: FG convenes Council of State on revenue sharing formula

revenue sharing formula in nigeria

President Buhari recently inaugurated an advisory technical committee for the implementation of the proposed wage. The Federal Government agreed to pay N24, 000 and the governors proposed N22, 500. Proportion of revenue to be paid by each State to Joint Local Government Account. Limit on power of State Governments for borrowing money The power of State Governments for borrowing money shall not extend to money, funds or revenue allocated to Local Government Councils under this Act. Osinbajo Abuja — Indications emerged on Thursday that the Federal Government may have decided to review the revenue allocation sharing formula to enable states meet the new minimum wage proposal pegged at N30, 000. After that, we will be able to say where we are going.


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Minimum Wage: FG convenes Council of State on revenue sharing formula

revenue sharing formula in nigeria

Establishment of Federation Account Allocation Committee and functions. We will be meeting with the Council of State on Tuesday, January 22. Though the Minimum Wage Tripartite Committee, led by the former Head of Service of the Federation, Ms Ama Pepple, had recommended N30,000, the Federal Government agreed to pay N24,000, while state governments insisted on N22,500. Articles and commentaries that identify allAfrica. We will be meeting with the Council of State on Tuesday January 22. Formula for distribution between Local Government Councils Subject to the provisions of this Act, the amount standing to the credit of local government councils in the Federation Account shall be distributed among the States of the Federation for the benefit of their local government councils using the same factors specified in this Act.

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