FAAC: Three Tiers of Government Share ₦2.550 Trillion as June 2026 Revenue; States and LGAs Receive Over ₦1.36 Trillion The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.551 trillion as Federation Account revenue for June 2026 to the Federal Government, the 36 state governments, and the 774 Local Government Councils across Nigeria. The allocation was approved during the FAAC meeting held in July 2026 in Abuja and chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy. The meeting was attended by the Accountant-General of the Federation, State Commissioners of Finance, and other members of the committee. ( FMINFO ) Breakdown of the Revenue Distribution The total distributable revenue of ₦2.551 trillion comprised: ₦1.810 trillion from Statutory Revenue. ₦740.724 billion from Value Added Tax (VAT). ( FMINFO ) Statutory Revenue Allocation From the statutory revenue: Federal Government: ₦849.366 billion State Govern...
.jpeg)
The 2024 Edo State gubernatorial election has been concluded, with Monday Okpebholo of the All Progressives Congress (APC) declared the winner by the Independent National Electoral Commission (INEC). Okpebholo secured 291,667 votes, defeating his closest rival, Asue Ighodalo of the Peoples Democratic Party (PDP), who garnered 247,655 votes. Olumide Akpata of the Labour Party came third with 22,763 votes.
The election saw the APC winning in 11 local government areas, while the PDP won in 7. Notably, Okpebholo also managed to defeat the incumbent governor, Godwin Obaseki, in his own local government area, Oredo.
Okpebholo is set to be sworn in as the next governor of Edo State in November 2024, succeeding Obaseki. His victory marks a shift in the political landscape of the state, which has been governed by the PDP in recent years. Observers will be watching closely to see how he addresses key issues in the state, particularly regarding security and economic development.
The upcoming swearing-in ceremony for the governor-elect, **Monday Okpebholo**, is scheduled for **November 12, 2024**. Okpebholo’s victory in the September gubernatorial election represents a significant political shift, as he will be taking over from Governor Godwin Obaseki of the Peoples Democratic Party (PDP), under whose administration Edo State experienced a range of infrastructural developments.
Following his win, Okpebholo has emphasized his plans to prioritize security, economic growth, and job creation, particularly in the agricultural sector, leveraging his background in agricultural economics. His philanthropic efforts through the **Monday Okpebholo Foundation**, which focuses on scholarships and vocational training, are expected to be central to his governance philosophy
In the days leading up to the swearing-in, political observers are keenly following developments, including any potential legal challenges from the PDP and LP, though these are not anticipated to overturn the results. The transition is expected to proceed smoothly, with high-profile guests, including national political leaders and traditional rulers, attending the inauguration
Security measures are being heightened to ensure a peaceful and orderly transition, as Edo prepares for its new leadership era under Okpebholo's administration.
As preparations intensify for the swearing-in of Monday Okpebholo as the next governor of Edo State on November 12, 2024, the focus has shifted to his expected governance style and priorities. His victory has sparked conversations around how he will navigate key issues in the state, especially in terms of security, job creation, and economic reforms.
**Key Expectations from Okpebholo’s Administration**
1. **Security**: During his campaign, Okpebholo promised to tackle the security challenges plaguing the state, especially concerning banditry and rural crime. As Edo is a key route for interstate transport, securing these highways and rural areas will be critical to boosting confidence in the new administration
2. **Economic Development**: Okpebholo's background in agricultural economics points to a potential focus on boosting agricultural productivity, creating employment, and fostering sustainable development in rural areas. There are indications that he plans to attract investments to the state, improve infrastructure, and develop programs that empower local farmers
3. **Youth Empowerment and Education**: Okpebholo’s foundation has been heavily involved in providing scholarships and vocational training. Many are expecting similar initiatives to be scaled up, with a stronger push toward vocational training and job creation for Edo’s large youth population
**Political Stability and Transition**:
The political transition is expected to be smooth, with Governor Obaseki pledging his support for a peaceful handover of power. However, the legal petitions filed by the PDP and Labour Party candidates may cause some tension in the short term, although political analysts believe the courts are unlikely to overturn the election results due to the clear margin of victory.
The inauguration event will be closely watched by local and national stakeholders as Edo State enters a new political phase under the leadership of Okpebholo.
Comments
Post a Comment