• 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
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

      Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

      WTO Lauds Nigeria Customs for Embracing Global Trade Standards

  • National
    • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

      DICON signs MoU with Saudi firm

      DICON, Saudi firm sign MoU to produce security drones, satellites in…

      Chief of Army Staff, Lt Gen Faruk Yahaya

      Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation…

      Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army…

      Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

    • Government
      • Corporate Affairs Commission

        CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

        Employment: ICPC Secures Conviction of FAAN Staff

        Staff of PRNigeria with federal lawmakers

        Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

        G7 Countries

        Iran Must Never Possess Nuclear Weapons – G7 Declare

        Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi…

  • Security
    • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

      DICON signs MoU with Saudi firm

      DICON, Saudi firm sign MoU to produce security drones, satellites in…

      Chief of Army Staff, Lt Gen Faruk Yahaya

      Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation…

      Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army…

      Customs Hands Over N172m Worth of Cannabis to NDLEA in Ogun,…

  • Features
    • Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

      NYSC Corps Members in Camp

      The Burden Too Many Nigerian Youths Bear Alone

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      Domestic Violence

      Marriage and the Silent Wounds Within Homes By Hafsat Ibrahim

      FutureMap Foundation Sparks Innovation with Design Thinking in Nigeria

  • State
    • Customs Hands Over N172m Worth of Cannabis to NDLEA in Ogun,…

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      IEDs found at the bridge

      Military Foils Terrorists’ Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge…

      Suspected Gunrunner

      Plateau: Troops Nab Suspected Gunrunner, Recover AK-47, Ammunition in Plateau

      Troops Neutralise Scores of Militias in Plateau

  • Event
    • President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

      NELFUND

      NELFUND Warns Students Against Fake Loan Application Portal

      EFCC Witness: Yahaya Bello Had No Property Dealings With EFAB

      Hon. Rukayat Motunrayo Shittu (RMS), with PRNigeria Ladies in PR I'm Abuja

      Rukayat Shittu Set to Publish Inspirational Book “Cracking the Glass Ceiling”,…

    • PR Nigeria Award
  • E-Paper
Home Economy FAAC Shares N462bn for May 2017
  • Economy

FAAC Shares N462bn for May 2017

By
Kenechukwu Offie
-
June 22, 2017
Ahmed+Idris+AGF FAAC
Ahmed+Idris+AGF FAAC

Ahmed+Idris+AGF
Ahmed+Idris+AGF

FAAC Shares N462bn for May 2017

A total of N462.359 billion has been distributed as Federal Allocation for the month of May, 2017 to the Federal Government, State Governments and Local Government Councils.

The communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting held today in Abuja signed by the Ag. Accountant General of The Federation, indicated that the gross statutory revenue of N317.562 billion received for the month is higher than the N274.110 billion received in the previous month by N43.452 billion.

Read Also:

  • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security
  • DICON, Saudi firm sign MoU to produce security drones, satellites in Nigeria
  • Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ Welfare

The slight drop in the average price of crude oil from $55.38 to $55.18 per barrel and a decrease in export volume by 1.023 million barrels, reduced oil revenue by $57.12 million. Crude oil production suffered due to leakages, sabotage, shut-ins and shut-downs at Terminals for maintenance and the Force Majoure declared at Forcados Terminal since February, 2016 subsisted. There were significant increases in revenues from Companies Income Tax and Oil Royalty, however, the increase in customs and excise duty was marginal.

The distributable Statutory Revenue for the Month is #317.562 billion.

There is a proposed distribution of #64.812 billion being the exchange rates differential. The total revenue distributable for the current Month (including VAT) is #462.359 billion.

The shared amount comprised the Month’s Statutory distributable revenue of N317.562 billion, the gross revenue available from the Value Added Tax (VAT) was #79.985 billion as against N84.673 billion distributed in the preceding month, resulting in a decrease of #4.688 billion.

The total revenue distributable for the current month (including VAT) is N462.359 billion.

Accordingly, from Net Statutory revenue, Federal Government received N147.682 billion representing (52.68%); States received N74.906 billion (26.72%); Local Government Councils received N57.750 billion representing (20.60%); while the Oil Producing States received N20.505 billion as 13% derivation revenue.

Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N11.518 billion (15%); States received N38.393 billion (50%) while the Local Government Councils received N26.875 billion (35%).

Consequently the total revenue distributable for the Month of March including VAT is N462.359 billion.

Kenechukwu Offie (Mrs)
Director Information, OAGF
22nd June, 2017

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
  • VAT
Previous articleRamadan: FG Declares Monday, Tuesday Ed-EL Fitr Public Holiday
Next articleEFCC Arraigns Ex-Minister, Akinjide For N650m Fraud
Kenechukwu Offie
Kenechukwu Offie
https://prnigeria.com/

RELATED ARTICLESMORE FROM AUTHOR

‎FACT-CHECK: Are Nigerian Soldiers Protecting Cattle Instead of Citizens in Yelewata Benue State as Shown in a Viral Video?

How a Single Electricity Market Will Empower Africa’s People and Economies

World’s Largest Electricity Market Kicks Off as AU Launches Steering Committee to Drive Continental Integration

Comptroller General Nigerian Customs Bashir Adewale

Nigeria Customs, ICPC and the Audit of Conscience

General Christopher Gwabin Musa, Chief of Defence Staff, CDS

DHQ, NIS Team Up to Revive Nigerian Sports

Nigerian Military Troops

Nigerian Troops Eliminate Scores of Terrorists in Fierce Battle in Borno and Cameroon Border

FACT-CHECK: Did Borno Governor Zulum’s Wife Lift Primary School Mate Out of Poverty in Viral Video?

Fact-Check: Did Saudi ‘Sleeping Prince’ Wake Up After 20 Years in a Coma?

Fact Check: Does Rat Faeces Cure Appendicitis as Claimed in Viral Video?

FG Officials Arrives S’Arabia for Business Mogul Aminu Dantata’s Burial in Madinah

Police Officer

Police Rescue 29 Captives, Arrest 3 Suspects in Kogi, Lagos, Katsina

Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security
  • DICON, Saudi firm sign MoU to produce security drones, satellites in Nigeria
  • Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ Welfare
  • Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army Commanders
  • Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk Bala
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Ribadu Proposes Reintegration of Military Veterans to Bolster National SecurityDICON, Saudi firm sign MoU to produce security drones, satellites in NigeriaEx-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ WelfarePrioritise Troops’ Welfare, Mission Over Personal Gain - COAS Charges Army CommandersNigeria's Growth Numbers Tell Only Half the Story By Umar Farouk BalaThe Burden Too Many Nigerian Youths Bear AloneCAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in NigeriaEmployment: ICPC Secures Conviction of FAAN StaffCustoms Hands Over N172m Worth of Cannabis to NDLEA in Ogun, Commissions 13 New Patrol VehiclesCombating Deepfake Videos: A Fight for Nigeria's Soul By Mukhtar Ya'u MadobiMilitary Foils Terrorists' Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge in BornoNIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE Africa AwardsDHQ: How Troops Nabbed Mastermind of NDLEA Commander’s Kidnap in AnambraFederal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth EmpowermentSCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects
X whatsapp