• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

  • Fact-Check
  • Economy
    • NUPENG

      NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders

      Customs, Defence Bureau Unveil Airboat for Smuggling War

      Customs Begins Live Operations of Automated Excise Register System

      Still on the “National Single Window” Project By Abdulsalam Mahmud

      Minister of Finance Wale Edun and the Comptroller General of Customs Bashir Adeniyi decorating OP Olaniyan

      Customs Generates N3.7trn in H1 2025 as FG Targets Enhanced Private…

  • National
    • Officers of NSCDC Mining Marshals

      Mining Marshals and the Fight for Nigeria’s Mineral Future By Zekeri…

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Ahmed Balarabe Sa'id

      Renewed Hope and the Broadening Public Sphere By Ahmed Balarabe Sa’id

      The Minister of Education, Dr. Tunji Alausa

      FG to Schools: Get Certified Teachers or Lose WAEC Accreditation

      Troops Eliminate Terrorist, Rescue Kidnap Victims in Sokoto, Katsina, Kaduna

    • Government
      • Governor Kabir Abba Yusuf and the conjoined twins

        Kano Separated Conjoined Twins Return Home After Successful Surgery in S/Arabia

        Governor Abba Kabir Yusuf, Kano State

        Kano Government Approves ₦1.1bn for School Uniforms to Tackle Out-of-School Children…

        Ahmed Balarabe Sa'id

        Renewed Hope and the Broadening Public Sphere By Ahmed Balarabe Sa’id

        The Minister of Education, Dr. Tunji Alausa

        FG to Schools: Get Certified Teachers or Lose WAEC Accreditation

        ECOBANK

        ECOWAS debt: Court Remands Ecobank Legal Head over Perjury, defamation of…

  • Security
    • Military Troops in Action

      Military Eliminates Terrorist Commanders in Yobe, Foil Attacks in Sokoto, Zamfara

      court Judiciary

      Court Okays DSS Request to Accelerate Trial of Al-Barnawi, 4 Other…

      Inspector-General of Police Kayode Adeolu Egbetokun

      Police Chief Tasks Border Patrol Commanders on Enhanced Security

      Air Marshal Hasan Abubakar NAF Chief

      Air Chief Links Fiscal Discipline to Nigeria’s National Security, Operational Readiness

      Army Arrest Notorious Cattle Rustlers, Recover Arms in Plateau

  • Features
    • Officers of NSCDC Mining Marshals

      Mining Marshals and the Fight for Nigeria’s Mineral Future By Zekeri…

      Omoyele Sowore, Bayo Ononuga and Adeola Ajayi

      Sowore’s Provocation, Onanuga’s Plea and the DSS Overreach

      Ahmed Balarabe Sa'id

      Renewed Hope and the Broadening Public Sphere By Ahmed Balarabe Sa’id

      Traffic officials tolling the vehicle at the scene in Abuja

      SPECIAL REPORT: Extortion, Blood and Impunity Behind Abuja’s Agbero Menace

      AI for Writing

      MUST READ: Why Everyone Should Use AI for Writing, With Pride…

  • State
    • Military Troops in Action

      Military Eliminates Terrorist Commanders in Yobe, Foil Attacks in Sokoto, Zamfara

      Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      Governor Kabir Abba Yusuf and the conjoined twins

      Kano Separated Conjoined Twins Return Home After Successful Surgery in S/Arabia

      court Judiciary

      Court Okays DSS Request to Accelerate Trial of Al-Barnawi, 4 Other…

      Governor Abba Kabir Yusuf, Kano State

      Kano Government Approves ₦1.1bn for School Uniforms to Tackle Out-of-School Children…

  • Event
    • Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

      PHOTOS: BUK Alumni Association Launches Digital Hub to Unite Global Graduates,…

      Founder Image Merchant Promotion Ltd, Yushau Shuaib, Nigeria Customs CG, CGC Bashir Adewale Adeniyi and the IPRA representative during the 2024 GWA awards in Belgrade, Serbia

      Again, ​IPRA Shortlists Nigeria Customs, IMPR for Golden World Awards, Celebrates…

    • PR Nigeria Award
  • E-Paper
Home Economy FAAC Shares N420bn to Tiers of Government
  • Economy
  • National

FAAC Shares N420bn to Tiers of Government

By
Kenechukwu N. Offie (mrs)
-
November 23, 2016
coatA total of N420billion has been shared as Federal Allocation for the month of October 2016 by  the  Federal Government, State governments and Local Government Councils after the monthly meeting of the Federation Account Allocation Committee (FAAC)
According to the figures released by Office of the Accountant General of the Federation, the gross statutory revenue of N238.716 billion received for the month was lower than the N279.746 billion received in the previous month by N 41.030 billion. Crude Oil export volume decreased while the average price of Crude Oil dropped, resulting in revenue loss of about $51million in Federation export Sales.
Force Majeure was declared at Qua Iboe Terminal and the NGL lifting programmes with the  Force Majeure at Forcados Terminal still in place.
Shut-in and Shut-down of Pipelines for repairs and maintenance due to attacks on delivery pipelines also contributed to the low revenue.
Also, there were decreases in volume of import duty and Companies Income Tax (CIT) while PPT and Oil Royalty recorded marginal increases.
The distributable Statutory Revenue for the month is N 203.952 billion. The sum of N 6.330 billion was refunded by NNPC to FGN.
There is a proposed distribution of N 109.108 billion from Excess PPT Account. Also, exchange gain of N 37.319 billion is proposed for distribution.
This brings the total revenue distributable for the current month (including VAT) to N 420.000 billion.
Consequently, from Statutory revenue, Federal Government received N96.674 billion (52.68%); States received N49.035 billion (26.72%); Local Government Councils received N37.804 billion (20.60%); while the Oil Producing States received N13.548 billion as 13% derivation revenue.
Kenechukwu N. Offie (Mrs)
Director Information, OAGF
PRNigeria encourages institutions to be transparent in their information management as it provides news items from authoritative sources for free use by the media
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • faac
  • FGN
  • NNPC
Previous articleArmy Raises Alarm over Planned Amnesty Report on MASSOB/IPOB
Next articleEFCC Fails to Stop Bail for Dasuki’s Aide, Security Consultants
Kenechukwu N. Offie (mrs)
Kenechukwu N. Offie (mrs)
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

Officers of NSCDC Mining Marshals

Mining Marshals and the Fight for Nigeria’s Mineral Future By Zekeri Idakwo Laruba

NIPR President Ike Neliaku

NIPR Inducts 422 New Members, Urges Commitment to National Unity

Ahmed Balarabe Sa'id

Renewed Hope and the Broadening Public Sphere By Ahmed Balarabe Sa’id

The Minister of Education, Dr. Tunji Alausa

FG to Schools: Get Certified Teachers or Lose WAEC Accreditation

Troops Eliminate Terrorist, Rescue Kidnap Victims in Sokoto, Katsina, Kaduna

ECOBANK

ECOWAS debt: Court Remands Ecobank Legal Head over Perjury, defamation of Judge character

The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

DSS Secures 15-Year Jail Term for Ansaru Leader Over Illegal Mining

Military Troops during operations

Army Arrests Cattle Rustlers, Recover Arms, 164 Stolen Livestock in Plateau, Zamfara, Sokoto

Femi Fani-Kayode FFK

Fani-Kayode Denies Interest in NFA Chairmanship

Mrs Diiarau Didi Esther Walson-Jack OON mni, SEC 30, 2008, the new Head of the Civil Service of the Federation

Personnel Audit to End Guesswork in Civil Service Reforms – Walson-Jack

Brig Gen Mohamed Buba Marwa (rtd)

Marwa: The Tormentor of Untouchable Drug Lords By Yushau A. Shuaib

Food Items

Crash Food Prices – Tinubu Orders FEC Committee

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Military Eliminates Terrorist Commanders in Yobe, Foil Attacks in Sokoto, Zamfara
  • UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication
  • Kano Separated Conjoined Twins Return Home After Successful Surgery in S/Arabia
  • Court Okays DSS Request to Accelerate Trial of Al-Barnawi, 4 Other Terrorists
  • Kano Government Approves ₦1.1bn for School Uniforms to Tackle Out-of-School Children Crisis
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Military Eliminates Terrorist Commanders in Yobe, Foil Attacks in Sokoto, ZamfaraUNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of CommunicationKano Separated Conjoined Twins Return Home After Successful Surgery in S/ArabiaCourt Okays DSS Request to Accelerate Trial of Al-Barnawi, 4 Other TerroristsKano Government Approves ₦1.1bn for School Uniforms to Tackle Out-of-School Children CrisisPolice Chief Tasks Border Patrol Commanders on Enhanced SecurityAir Chief Links Fiscal Discipline to Nigeria’s National Security, Operational ReadinessArmy Arrest Notorious Cattle Rustlers, Recover Arms in PlateauTroops Repel Bandits’ Attacks in Kaduna, Katsina, Recover Rustled CattleMining Marshals and the Fight for Nigeria’s Mineral Future By Zekeri Idakwo LarubaNIPR Inducts 422 New Members, Urges Commitment to National UnitySowore’s Provocation, Onanuga’s Plea and the DSS OverreachNigerian Troops Intercept Ransom Money, Recover 160 Rustled CattlePolice Nab 'Obi of Lagos,' Foil ₦1.5 Billion New Palace FraudRenewed Hope and the Broadening Public Sphere By Ahmed Balarabe Sa’id
X whatsapp