Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Local Governments Received N126.28bn From FAAC Allocation In May 2019 – NBS
The Federation Account Allocation Committee (FAAC) disbursed the sum of N616.20bn to the three tiers of government in May 2019 from the revenue generated in April 2019.

The amount disbursed comprised of N518.92bn from the Statutory Account, N96.49bn from Valued Added Tax (VAT) and N797.11mln exchange gain differences.

Federal Government received a total of N253.92bn from the N616.20bn. States received a total of N168.06bn and Local Governments received N126.28bn. The sum of N46.35bn was shared among the oil-producing states as 13% derivation fund.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N5.38bn, N6.78bn and N3.12bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N199.58bn was disbursed to the FGN consolidated revenue account; N4.56bn shared as share of derivation and ecology; N2.28bn as stabilization fund; N7.65bn for the development of natural resources; and N5.44bn to the Federal Capital Territory (FCT) Abuja.


[Image: 9798411_faacstatesreceivedn178_04bnfromf...49cab0e597]

Possibly Related Threads...
Thread Author Replies Views Last Post
  Local operators kick as Emirates’ daily flight hits four Edoman 0 26 08-07-2019, 11:47 AM
Last Post: Edoman
  Nigerians Spent N3.1bn In Cinemas In H1 2019 – Report Edoman 0 56 07-16-2019, 12:50 PM
Last Post: Edoman
  Capital importation into Nigeria for 2019 First Quarter over $8.4 million — NBS Edoman 0 75 07-03-2019, 02:55 PM
Last Post: Edoman
  Nigeria’s Inflation To Hit 12% In 2019—fitch Edoman 0 101 06-15-2019, 09:45 AM
Last Post: Edoman
  CCNN, Unity Bank, others lead NSE’s N48b loss By Helen Oji 11 June 2019 | 4:11 am Edoman 0 94 06-13-2019, 02:54 PM
Last Post: Edoman
  Will Nigeria’s economy gather momentum during the second half of 2019? Edoman 0 92 05-31-2019, 05:09 PM
Last Post: Edoman
  Nigeria’s Manufacturing Pmi Grows To 57.8% In May 2019 Edoman 0 102 05-22-2019, 09:51 AM
Last Post: Edoman
  Cement Company Of Northern Nigeria Declares N16.89 Billion Revenue In Q1 2019 Edoman 0 106 05-16-2019, 09:20 AM
Last Post: Edoman

Users browsing this thread: 1 Guest(s)


About contripeople

Contripeople forum description.

              Quick Links

              User Links