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Finance minister projects 2024 non-oil remittances to surpass N13tr posted in 2023

Non-oil revenue remittances by Federal Government agencies in 2024 will surpass the N13tr recorded at the end of 2023, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has indicated.
Edun who made the disclosure on Wednesday in Abuja, said in January alone, over N100b was remitted.
The finance minister spoke when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.
Edun noted that compared to the same period in 2023, only N20bn was remitted into the Consolidated Revenue Fund of the Federal Government.
The committee is investigating the “Remittance of Internally Generated Revenue by MDAs and Evidence of Payment of 1% Stamp Duty into the Consolidated Revenue Fund Account from 2020-2023.”
The minister explained that while remitted revenue from June to December 2023 stood at N3.6tn, the total collection for the 12 months in the year was N13tn.
He told the committee members that due to policies introduced by the present admyof President Bola Tinubu, including digitalising operations for speedy transactions, the government wad looking forward to higher non-oil revenue output by the end of December, 2024.
“What we can see is a substantial increase in remittances by MDAs and revenue generation agencies.
“We will keep this up and there will be a time we can give further data on this to the committee and the National Assembly”, the minister added.
Edun also spoke on the government’s 1 per cent Stamp Duty collection, saying that a total of N53bn remitted in 2023 or an average of N3.7bn every month.
Explaining further the minister indicated that the final tally exceeded the target of N44bn set by the National Assembly.
“This, I will say was a positive development. N44bn was approved by the National Assembly, and the actual collection was N53bn”, he told lawmakers.
Speaking on the capital and recurrent budget performance for 2023 and first quarter of 2024, Edun informed the lawmakers that N2.9tn was the capital spending in 2023.
For 2024, he disclosed that first quarter capital releases so far stood at N124bn, while N581bn had been spent on salaries and other recurrent expenditure, aside from the N71bn released for overhead costs.
When asked about the N3.7tn the government allegedly lost to import duty waivers in 2023, Edun who corroborated the records of the Nigeria Customs Service (NCS), said the current administration had introduced a new duty waiver policy to plug leakages or losses.
The minister said this time round, all import duties would first be paid in full, while waivers would later be deducted and paid to the affected importers.
He explained that paying the duties before deducting the waivers would address “the uncertainty on the process works”, adding that the old method of waiver application would be stopped and replaced by automation.
On measures to revamp the economy, Edun told the committee that the government has done a lot, including initiatives at stabilizing the naira against the dollar and the implementation of a more transparent social welfare scheme for the citizenry.
For instance, he said one of the major errors of the past, which brought the economy to its knees, was the free printing of the naira for eight years up to N22.7tn by the administration of former President Muhammadu Buhari without a corresponding improvement in productive activities.
“The inflation is due largely to eight years of printing the naira, which was not matched by production”, Edun stated.
To cushion the effects of the current hardship on Nigerians, the minister said the government had re-started the cash transfer of N75,000 to 15million households by identifying beneficiaries, using Bank Verification Number (BVN) and National Identification Number (NIN) to reach almost 75m Nigerians across three months.
Speaking earlier, Sani said the Senate called for the investigation because unstable oil prices meant that Nigeria had to source alternative revenue windows internally to able to provide services to the people.
“Volatility in oil prices and global economic challenges have made it necessary for us to explore our IGR sources.
“The days of excessive reliance on oil are gone. So, we have to explore other internal avenues, including agriculture as well as encourage voluntary tax compliance”, he stated.
News
CUPP lampoon Reps over move to investigate Ugochinyere, others for visit to Fubara

**Calls for reversal of the ill-informed Move by the House of reps
The Coalition of United Political Parties (CUPP) has Condemned the attempt by the House of Representatives to refer Ikenga Imo Ugochinyere and other members to the Committee On Ethics for probe over their Solidarity Visit to the Rivers State Governor, Siminalayi Fubara.
Fifty members of the House of Representatives hadq paid a solidarity visit to the Rivers State governor, Siminalayi Fubara, to celebrate his one year in office.
The lawmakers, who consist of members of the Peoples Democratic Party ( PDP), Labour Party ( LP), New Nigeria Peoples Party ( NNPP), All Progressives Grand Alliance ( APGA) and the All Progressives Congress (APC) also include the spokesman of opposition coalition, in the House, Ikenga Ugochinyere..
Ugochinyere had explained on the sideline of the thanksgiving service in Port Harcourt that federal lawmakers were in Rivers to solidarilize with Fubara and celebrate with him on his one year of transformational leadership.
But the House had referred the Honourable members to the Committee on Ethics for disciplinary action over their visit
However, the chairman,
Media Committee of the
Coalition of United Political Parties (CUPP) Chief Barr. Chukwudi Ezeobika in a statement has tackled the leadership of the House for the action which he said clearly cast doubt on its integrity in the observance and or adherence to the laws which they enact/promulgate.
“Relying on the point of order/ privilege raised by Yusuf Gagdi of the All Progressives Congress, Plateau State to arrive at such decision is erroneous and grossly misleading.
“The House, by this very action, has impugned on the integrity and sacredness of Chapter IV of the 1999 Constitution of the Federal Republic of Nigeria (as amended) especially Sections 39 and 40 which guarantee Freedom of Expression and the Press as well as that of Peaceful Assembly and Association respectively.
“We, the Coalition of United Political Parties (CUPP), hereby call on the leadership of the House of Representatives to, without further delay retract its ongoing steps in the purported probe of these Honourable members by its Ethics Committee and not engage in any act that may violate the fundamental rights of its members or any member of the public.
News
Kano Police counter reports that Emir Bayero will lead Jumma’t prayer

the Kano State Police Command has countered reports that Alhaji Aminu Ado Bayero will lead Jumma’t Prayers at Kofar Kudu Central Mosque, Kano, where Alhaji Muhammadu Sanusi, Emir of Kano, leading prayer at the moment.
The reinstated Emir Muhammadu Sanusi II and the dethroned Emir Aminu Ado Bayero, have been laying claim to the throne, creating confusion in the city.
Governor Abba Kabir Yusuf had dethroned Ado Bayero and asked him to hand over within 48 hours.
But the dethroned monarch in defiance returned to the town under military protection and has been operating from the mini palace since then.
In a statement by Abdullahi Kiyawa, spokesman of Kano Police Command, said, “The Commissioner of Police, CP Mohammed Usaini Gumel, FIPMA, psc further assured that all necessary security arrangements have been made for Alhaji Aminu Bayero to observe his Jummah Prayers in the Mosque where he lives at the Nasarawa Palace.
“The CP also assured that the Police and all other state security agencies will provide adequate security at the Palace where Emir Muhammadu Sanusi II is expected to observe his Jumma’at Prayers.
“Members of the public are therefore advised to ignore the false reports and misinformation circulating on social media and to go about their activities without fear of molestation or intimidation assuring that the Police will continue to provide the necessary security for ensuring that residents observe their Friday congressional prayers peacefully and without threats to their lives and property.”
The emirate tussle has continued to linger since the reinstatement of Sanusi and dissolution of the five emirates.
There have been cnflicting court orders for and against
Based on the conflicting orders, the Chief Justice of Nigeria, Justice Kayode Ariwoola, had summoned the head of the Federal High high Court and Kano Chief Judge.
The Police statement reads,
KANO STATE POLICE COMMAND
31ST MAY, 2024
The Kano State Police Command is hereby advising all residents to disregard the false information circulating on social media that Emir Alhaji Aminu Ado Bayero will lead Jumma’t Prayers at Kofar Kudu Central Mosque, Kano.
2. The Commissioner of Police, CP Mohammed Usaini Gumel, FIPMA, psc further assured that all necessary security arrangements have been made for Alhaji Aminu Bayero to observe his Jummah Prayers in the Mosque where he lives at the Nasarawa Palace.
3. The CP also assured that the Police and all other state security agencies will provide adequate security at the Palace where Emir Muhammadu Sanusi II is expected to observe his Jumma’at Prayers.
4. Members of the public are therefore advised to ignore the false reports and misinformation circulating on social media and to go about their activities without fear of molestation or intimidation assuring that the Police will continue to provide the necessary security for ensuring that residents observe their Friday congressional prayers peacefully and without threats to their lives and property.
SP ABDULLAHI HARUNA KIYAWA, ANIPR, MNISMA,
POLICE PUBLIC RELATONS OFFICER,
FOR: COMMISSIONER OF POLICE, KANO STATE COMMAND.
News
Royal turbulence gets messier as emirs Sanusi II, Bayero move to hold prayer at Palace Mosque

As the royal turbulence continue to shake the foundation of the city of Kano, the ancient city is tension soaked as the two contending Emirs- the reinstated Emir Muhammadu Sanusi II and the dethroned Emir Aminu Ado Bayero, have indicated their determination to hold Jumaat prayers at the Palace Central Mosque.
A press statement issued Thursday night, signed by Danburan Kano, Munir Sanusi Bayero, spelt out the itinerary of the reinstated Emir Muhammadu Sanusi II to the Mosque to lead the Jumaat Prayers.
The statement explained that Emir Malam Muhammadu Sanusi II, who resides in the Palace, and is closer to the contending Mosque, is expected to lead the two rakat Friday prayers.
Emir Muhammadu Sanusi II has been leading the Jumaat Prayers at the Palace Central Mosque as the Amir of the City, a statement explained.
The statement by Danburan invited Kano residents to come and listen to the sermon to be delivered by the Emir Malam Muhammadu Sanusi II.
However, another statement from an aide of the deposed Emir, Alhaji Aminu Ado Bayero invited residents to join him at the Emir’s Palace Friday Mosque to observe the Juma’at prayer.
It stated that the movement to the Emir’s Palace Mosque starts at 12.30 pm.
However, the police are yet to comment on the development.
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