• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
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
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Economy FG, States And Lgc’s Share N558.082 Billion As Revenue For The...
  • Economy

FG, States And Lgc’s Share N558.082 Billion As Revenue For The Month Of September 2017

By
Kenechukwu Offie
-
October 25, 2017
FAAC
AGF Ahmed Idris FAAC
The sum of  N558.082 has been shared as FACC allocation among the Federal, States and Local Government Councils  for  the month of September  2017.
The  communiqué issued by the sub -Committee of Federation Accounts Allocation Committee (FAAC) of the Office of the Accountant-General of the Federation,  at the end of the meeting held today in Abuja, indicated that the gross statutory revenue received for the month is  N423.961  billion and   is lower   than  the N550.992 billion  received in the previous month by N127.023 billion.
The shared amount comprise  the Month’s Statutory distributable revenue of N423.961 billion and the  Value Added Tax of N83.315 billion, as well as Exchange Gain of N50.806 billion making up N558.082 billion.
Accordingly, from Net Statutory Allocation, the Federal Government received  N198.054 billion representing (52.68%); States received N100.456 billion (26.72%); Local Government Councils received N77.447 billion representing (20.60%); while the Oil Producing States received N35.414  billion as 13% derivation revenue.
Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N11.997 billion (15%); States received N39.991billion (50%) while the Local Government Councils received N27.994 billion  (35%).
The Communique further explained that there was a decrease in the average price of crude oil from $50.44 to $46.29 per barrel and a significant increase in  export sales of $176.4  million due to increase  in oil production by 4.12 million barrels .However, activities at the Forcados terminal resumed for the first time since February 2016. In spite of this there was   also  shut-in and shut-down of pipelines  for maintenance  and for repairs . Furthermore, significant increases were also recorded in Oil royalty, while Companies Income, Petroleum Profit tax , Import and Excise Duties and Value Added Tax recorded witnessed considerable decline.
Meanwhile the balance of the excess crude account is $2.309 billion.
#end#
Kenechukwu  Offie (Mrs)
Director  Information, OAGF
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
  • abuja
  • faac
  • VAT
Previous articleBorno Police Boss Bags Most Outstanding Commissioner Award
Next articleNAF Airstrike Kills Shekau’s Wife
Kenechukwu Offie
Kenechukwu Offie
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

GWA Award Winners 2025

PHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th Anniversary

Customs, NCC Strengthen Alliance on Device Monitoring, Security, Public Safety

EFCC Arrests 42 Suspected Internet Fraudsters, Recovers Laptops, Phones in Yobe

Military Foils Terrorist Attacks, Rescues Victims, Dismantles Hideouts in Sokoto, Kebbi

ICPC

ICPC Rises to 3rd Place in Transparency Index, Records Historic Leap in Integrity Score

Nigeria and the Genocide Lie That Refuses to Die By Kabir Abdulsalam

FULL TEXT INDEPENDENCE SPEECH: Tinubu Hails Nigeria’s Progress at 65 Tinubu, Lists Achievements, Promises Brighter Future

Aliko Dangote

FG Brokers Truce in Dangote–PENGASSAN Dispute

President Bola Ahmed Tinubu

Nigeria @ 65: Tinubu Hails Armed Forces, Claims Victory Over Boko Haram, IPOB, Bandits

Bayo Onanuga: Between Bolekaja Publicity and Public Relations

Nigeria at 65: Tinubu Lists 12 Economic Gains of His Reforms

Governor Abba Kabir Yusuf, Kano State

Gov Yusuf Launches N800m Youth Empowerment Scheme in Kano

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Nigerian Army Denies Losing Weapons to Bandits in Kwara Operation
  • Uba Sani Releases ₦2.3bn for Retirees and Families of Deceased Workers
  • Group Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage Cost
  • NDLEA Dismantles Cocaine Cartels Behind UK Shipments, Arrests Suspects, Destroys 25,000kg Skunk Nationwide
  • Kano Gov’t Investigates Alleged Diversion of N4bn Dala Inland Dry Port Funds
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Nigerian Army Denies Losing Weapons to Bandits in Kwara OperationUba Sani Releases ₦2.3bn for Retirees and Families of Deceased WorkersGroup Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage CostNDLEA Dismantles Cocaine Cartels Behind UK Shipments, Arrests Suspects, Destroys 25,000kg Skunk NationwideKano Gov't Investigates Alleged Diversion of N4bn Dala Inland Dry Port FundsACF Warns of Alleged Plot to Cripple Dangote Refinery, Urges FG InterventionTroops Neutralise Terrorists, Repel Boko Haram Attack in BornoPHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th AnniversaryTroops Nab Terrorists’ Logistics, Drug Suppliers in BornoS/Arabia-Trained Graduates to Begin Forum on Sustainable DevelopmentChristian Genocide and the Conspiracy against Nigeria By Femi Fani-KayodeWe Arrested 450 Terrorists, Rescued 180 Abducted Victims in One Month - MilitaryOver 100 Jerrycans of Petrol Seized as Police Foil Smuggling to Niger RepublicNAFDAC Seals Chinese Supermarkets, Cosmetics Shops in AbujaMining Marshals Arrests 5 Illegal Miners in Niger, Seize Logistics
X whatsapp