• 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
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      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

  • Fact-Check
  • Economy
    • Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      NUPENG

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

      Customs, Defence Bureau Unveil Airboat for Smuggling War

  • National
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Nnamdi Kanu of IPOB arrested by Nigerian security services

      Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

      Troops Repel Bandit Ambush in Katsina as Four Farmers Abducted in…

      Military Troops during operations

      Troops Recover Arms in Plateau, Intercept Drug-Laden Vehicle in Taraba

    • Government
      • HCSF, Didi Esther Walson-Jack

        Federal Govt Moves to Fill 5 Permanent Secretary Positions

        Commissioner of Police, CP Ibrahim Adamu Bakori, and Chief Medical Director of AKTH, Prof. A. Abba Sheshe, and the Managing Director/Chief Executive Officer of KEDCO, Dr. Abubakar Shuaibu Jimeta

        Power Outage: Police Broker Peace Between AKTH, DisCos in Kano

        Nnamdi Kanu of IPOB arrested by Nigerian security services

        Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

        Doctors

        Resident Doctors Commences Indefinite Strike in FCT

        Diplomacy and Digital Innovation – Youth Insight

        Book Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook…

  • Security
    • Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

      SP Abimbola Adebisi

      IGP Appoints SP Adebisi as Lagos Police PRO

      Nnamdi Kanu of IPOB arrested by Nigerian security services

      Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

      Troops Foil Multiple Terrorist Attacks, Rescue Kidnap Victims in Zamfara, Kebbi,…

      Troops Repel Bandit Ambush in Katsina as Four Farmers Abducted in…

  • Features
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Healing Nigeria: A Chronicle of Health Reforms

      Book Review: Is This the Cure? A Look into Healing Nigeria…

      Diplomacy and Digital Innovation – Youth Insight

      Book Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      Charlie Kirk

      Who Really Killed Charlie Kirk? By Femi Fani-Kayode

  • State
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

      Commissioner of Police, CP Ibrahim Adamu Bakori, and Chief Medical Director of AKTH, Prof. A. Abba Sheshe, and the Managing Director/Chief Executive Officer of KEDCO, Dr. Abubakar Shuaibu Jimeta

      Power Outage: Police Broker Peace Between AKTH, DisCos in Kano

      SP Abimbola Adebisi

      IGP Appoints SP Adebisi as Lagos Police PRO

      Abubakar Tafawa Balewa University (ATBU) Bauchi

      Bauchi Forum Condemns ATBU’s Plan to Close Faculties

  • 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 N649bn to FG, State, LGCs in January 2019
  • Economy

FAAC Shares N649bn to FG, State, LGCs in January 2019

By
Oise D. Johnson
-
January 25, 2019

FAAC Shares N649bn to FG, State, LGCs in January 2019

A total of N649.198 billion has been distributed as Federal Allocation for the month of December, 2018 between the Federal Government, State Governments and Local Government Councils.

The communiqué issued by the Technical sub -Committee of Federation Accounts Allocation Committee (FAAC) indicated that the Gross statutory revenue received is N547.462 billion which is lower than the N649.629 billion received in the previous month by N102.167 billion.

Federation Crude oil export sales dropped by 1.7 Million barrels resulting to a drop in Federation Revenue by $83.54 Million regardless of a significant increase in price from $72.84 to $81.06 per barrel.

Read Also:

  • Federal Govt Moves to Fill 5 Permanent Secretary Positions
  • Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga Ibraheem
  • Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

There was Shut-in, Shut -down and Closure of production at various Terminals due to fire leakages and flooding.
Revenues from Value Added Tax (VAT), Import and Excise Duties and Royalities increased marginally while Companies Income Tax (CIT) and , Petroleum Profits Tax (PPT) decreased significantly.

The total revenue distributable for the current month (including VAT and Exchange Gain Difference) is N649.198 billion.

Therefore, from the Net Statutory Revenue, Federal Government received N255.202 billion representing 52.68%; States received N129.442 billion representing 26.72%; Local Government Councils received N99.794 billion representing 20.60%; while the Oil Producing States received N45.524 billion also representing 13% derivation revenue.
The Cost of Collection, Transfer and FIRS Refund comes up to N 21.530 billion.

Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N14.510 billion representing 15%; States received N48.365 billion representing 50% while the Local Government Councils received N33.856 billion also representing 35%.

The balance on Excess Crude Account is $0.631 Billion.

Oise D. Johnson
Head Press & Public Relations, OAGF
January 25th, 2019.

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
  • fg
  • January 2019
  • LGCs
  • N649.198 billion
  • States
Previous articleTroops Eliminate Terrorists in Konduga Axis
Next articleRevealed: How CCT Boss Ordered President Buhari to Suspend CJN Onnoghen
Oise D. Johnson
Oise D. Johnson
http://www.PRNigeria.com

RELATED ARTICLESMORE FROM AUTHOR

Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues End

Renewed Hope in Central Banking

Book Review: Renewed Hope in Central Banking – A Blueprint for Nigeria’s Economic Future By Khadijah Lawan Muhammad

NAHCON

Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu Administration

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 Sector Growth

Customs Gets 4 New Deputy Comptrollers-General, 12 ACGs, Promotes 3,312 Officers

DG NITDA Inuwa Kashifu at the GITEX Nigeria

Sanwo-Olu, Tijani, Kashifu Urge Digital Innovation as GITEX Nigeria Opens

Members of National Regional Development

FG Inaugurates Boards, Management Teams of Three Regional Development Commissions

Trade Facilitation: Nigeria Customs, NACCIMA Strengthen Partnership

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Federal Govt Moves to Fill 5 Permanent Secretary Positions
  • Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga Ibraheem
  • Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno
  • Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues End
  • Power Outage: Police Broker Peace Between AKTH, DisCos in Kano
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Federal Govt Moves to Fill 5 Permanent Secretary PositionsGombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga IbraheemTroops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in BornoDangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues EndPower Outage: Police Broker Peace Between AKTH, DisCos in KanoIGP Appoints SP Adebisi as Lagos Police PROBauchi Forum Condemns ATBU's Plan to Close FacultiesCourt Rejects Nnamdi Kanu’s Request for Transfer to National HospitalResident Doctors Commences Indefinite Strike in FCTTroops Foil Multiple Terrorist Attacks, Rescue Kidnap Victims in Zamfara, Kebbi, KatsinaTroops Repel Bandit Ambush in Katsina as Four Farmers Abducted in ZamfaraTroops Recover Arms in Plateau, Intercept Drug-Laden Vehicle in TarabaBook Review: Is This the Cure? A Look into Healing Nigeria By Hanniel NobohBook Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook By Bilkisu Ahmed ShekarauBook Review: Renewed Hope in Central Banking – A Blueprint for Nigeria’s Economic Future By Khadijah Lawan Muhammad
X whatsapp