Accruals

Olofu who is the immediate past Commissioner for Finance and Economic Planning, Benue State, however advised the Federal Government to ensure that all accruals from the removal of fuel subsidy should be paid into the Federation Account.

Compensation costs were affected by increased accruals for annual incentive and bonus plan.

Asked about the investment, he said the total cost on these three housing projects is estimated at around Rs 2,500 crore and the same will be funded through internal accruals.

He also added that investment for both the steel plant expansion and new power plant commissioning will be funded through the company’s accruals.

Our investments combined with these accruals are adding approximately 3 points of CASM-Ex pressure in the December quarter and resulting in expected non-fuel unit cost growth of 4% to 5%.

PI will fund the acquisition partly through internal accruals and partly through debt.

The capacity expansion will require a total investment of close to Rs 2,900 crore, which the company plans to raise through a combination of internal accruals and debt.

Then, through CTU contract negotiations later that year, a 40-day cap on sick-day accruals was put in place for union employees with under 40 days saved, but employees with more than 40 days accrued didn’t have any taken away.

Sentiment or bias apart, I believe the clamour for upward review of education tax accruals to TETFund was a justified one.

With dwindling accruals to states, NNPC has told the governors that it is now paying subsidy on 60 million litres daily consumption up from 33 million litres a few months ago.