• 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
    • 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

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

  • Fact-Check
  • Economy
    • PRNigeria Fellows and CEO IMPR Yushau A Shuaib

      PRNigeria Fellowship: A Model for NIPSS Kuru

      Africa’s Economic Ties Deepen as Nigeria, Benin Sign Joint Trade Plan

      Customs Partners US Mission to Prevent Expanded Visa Ban

      Nigeria Customs Partners China on Smarter Ports, Officer Training, Reforms

      Comptroller General Nigerian Customs Bashir Adewale

      Customs Moves Against 223 Importers in N379bn Permit Breach

  • National
    • CDCFIB

      Correctional Service Elevates 30 Officers to Assistant Controller General Rank

      Troops Intercept Illicit Logistics Bound for Cameroon, Uncovers, Destroys 14 IEDs…

      Group photograph of Staffs of VON and representatives from RATTAWU

      We are Here to Fix The Voice of Nigeria as A…

      PRNigeria Fellows and CEO IMPR Yushau A Shuaib

      PRNigeria Fellowship: A Model for NIPSS Kuru

      Peter Obi

      Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My…

    • Government
      • Secretary State Government Alhaji Umar Farouk Ibrahim receives report on Commissioner alleged role in drug baron bail

        Kano Govt Receives Report on Commissioner’s Alleged Role in Drug Baron’s…

        Group photograph of Staffs of VON and representatives from RATTAWU

        We are Here to Fix The Voice of Nigeria as A…

        The Executive Secretary of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin (L), receiving the President of the All Farmers’ Association of Nigeria (AFAN), Dr Farouk Rabiu Mudi (R), who led a delegation to pay him a courtesy visit in his office.

        Why Investments in Local Sugar Production is Profitable Now – NSDC…

        Kemi Badenoch

        Kemi Oomoale Badenough: A Liar By no Other Name by Chief…

        Peter Obi

        Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My…

  • Security
    • Nigerian Army Launches New Welfare Initiatives for Retiring Soldiers

      CDCFIB

      Correctional Service Elevates 30 Officers to Assistant Controller General Rank

      PRNigeria logo fearured image

      After 21 Years, Gen. TY Danjuma Relaunches Union Dicon Salt to…

      Rivers Police Arrest Suspects in Lawyer’s Murder, Recover Weapons

      Police Officer

      Police Eliminate 8 Terrorists in Zamfara as Bandits Abduct 5 Residents,…

  • Features
    • Tinubu, Atiku and Peter Obi

      Atiku, Obi and the ‘Confused Marriage’ Called ADC

      Kwankwaso, Northern Nigeria and the Politics of Marginalisation

      Kemi Badenoch

      Kemi Oomoale Badenough: A Liar By no Other Name by Chief…

      DSS, NNPCL and EFCC

      NNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute…

      Tinubu’s Greek gift by Festus Adedayo

  • State
    • Secretary State Government Alhaji Umar Farouk Ibrahim receives report on Commissioner alleged role in drug baron bail

      Kano Govt Receives Report on Commissioner’s Alleged Role in Drug Baron’s…

      Rivers Police Arrest Suspects in Lawyer’s Murder, Recover Weapons

      Police Officer

      Police Eliminate 8 Terrorists in Zamfara as Bandits Abduct 5 Residents,…

      Troops Intercept Illicit Logistics Bound for Cameroon, Uncovers, Destroys 14 IEDs…

      Prof Pate donates laptops to UNIMAID

      Prof Pate donates 20 Laptop Computers to UNIMAID

  • Event
    • Prof Pate donates laptops to UNIMAID

      Prof Pate donates 20 Laptop Computers to UNIMAID

      D'Tigress Basketball team

      Will Presidential Gifts Follow as Nigerian Female Basketballers D’Tigress Reach 5th…

      The Paramount Ruler of Oka-Akoko, His Imperial Majesty Oba (Dr) Yusuf Adebori Adeleye, OON, the Olubaka of Oka

      Olubaka of Oka Praises Foundation for “Best Oka Day” Festival

      court Judiciary

      Lawyer Sues Housing Ministry, FHA Over Alleged Property Redesign

      Sam Obi Sponsors 500 students

      Sam Obi Sponsors 500 Students in Evergreen, SimplifiedIQ’s Education Program

    • PR Nigeria Award
  • E-Paper
Home Economy FAAC Shares N660bn for FG, States, LGs in February 2019
  • Economy

FAAC Shares N660bn for FG, States, LGs in February 2019

By
Oise D. Johnson
-
February 27, 2019
Ahmed+Idris+AGF FAAC
Ahmed+Idris+AGF FAAC

FAAC Shares N660bn for FG, States, LGs in February 2019

A total sum of N660.368 billion has been distributed as Federal Allocation for the month of January 2019 between the Federal, States and Local Government Councils.

The communiqué issued by the Technical Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of its February meeting, indicated that the Gross statutory revenue received was N505.246 billion. This sum is lower than the N547.462 billion received in the previous month by N42.216 billion.

Breakdown of the total distributable revenue of N660.368 billion, comprised the Statutory Revenue of N505.246 billion, Gross Value Added Tax of N104.468 billion and an Exchange Gain of N0.654 billion. There was a decision to withdraw N50 billion from the FX Equalisation account to argument the shortfall in revenue.

Read Also:

  • Atiku, Obi and the ‘Confused Marriage’ Called ADC
  • Nigerian Army Launches New Welfare Initiatives for Retiring Soldiers
  • Correctional Service Elevates 30 Officers to Assistant Controller General Rank

Therefore, from the Gross statutory revenue, Federal Government received N237.063 billion representing 52.68%; States received N120.241 billion representing 26.72%; Local Government Councils received N92.701 billion representing 20.60%; while the Oil Producing States received N41.919 billion also representing 13% derivation revenue.

Furthermore, the breakdown of distribution to the 3 tiers from Value Added Tax (VAT), include: Federal Government received N15.044 billion representing 15%; States received N50.145 billion representing 50% while the Local Government Councils received N35.102 billion, also representing 35%.

There was also 17.500 billion paid as cost of collection to revenue generating agencies, such as the Nigerian Custom Service(NCS), Federal Inland Revenue Service (FIRS), Directorate for Petroleum Resources (DPR).

Meanwhile, the Communique indicated that the revenue from the Company Income Tax(CIT) decreased significantly while revenues from Value Added Tax (VAT),increased marginally. Also, revenues from Import and Excise Duties increased significantly while that of Petroleum Profit Tax (PPT) decreased significantly.

The balance on Excess Crude Account as at 26th January , 2019 is $249 million.

Oise D. Johnson
Head Press & Public Relations, 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
  • faac
  • Federation Account
Previous articleNigeria Makes Satisfactory Progress in EITI Standard
Next articleVictory Celebration: FCT Police Command Reassures Residents of Safety
Oise D. Johnson
Oise D. Johnson
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

Rivers Police Arrest Suspects in Lawyer’s Murder, Recover Weapons

Police Officer

Police Eliminate 8 Terrorists in Zamfara as Bandits Abduct 5 Residents, Rustle Cattle

Troops Intercept Illicit Logistics Bound for Cameroon, Uncovers, Destroys 14 IEDs in Borno

PRNigeria Fellows and CEO IMPR Yushau A Shuaib

PRNigeria Fellowship: A Model for NIPSS Kuru

Africa’s Economic Ties Deepen as Nigeria, Benin Sign Joint Trade Plan

International Press Institute IPI

IPI Nigeria Demands Immediate Reopening of Badegi FM, Threatens to List Governor Bago in Black Book

Troops Kill 3 Terrorists in Borno, Recover Weapons, Motorcycles

NDLEA Logo

NDLEA Intercepts Cocaine, Tramadol Hidden in Vehicle Side Mirrors, Arrests Multiple Suspects Nationwide

Group Chief Executive Officer (GCEO), Bayo Ojulari

Purported Resignation: Who are after NNPC Boss Bashir Ojulari

D'Tigress Basketball team

Will Presidential Gifts Follow as Nigerian Female Basketballers D’Tigress Reach 5th Consecutive AfroBasket Final?

After ₦250m Ransom Demand, Security Guard Arrested for Murder of Caregiver, Toddler in Abuja School

The Director of Defence Media Operations, Major-General Markus Kangye,

Troops Eliminate Dozens of Terrorists, Arrest 578 Suspects in July Operations

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Atiku, Obi and the ‘Confused Marriage’ Called ADC
  • Nigerian Army Launches New Welfare Initiatives for Retiring Soldiers
  • Correctional Service Elevates 30 Officers to Assistant Controller General Rank
  • After 21 Years, Gen. TY Danjuma Relaunches Union Dicon Salt to Revive Local Industry
  • Kano Govt Receives Report on Commissioner’s Alleged Role in Drug Baron’s Bail
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Atiku, Obi and the ‘Confused Marriage’ Called ADCNigerian Army Launches New Welfare Initiatives for Retiring SoldiersCorrectional Service Elevates 30 Officers to Assistant Controller General RankAfter 21 Years, Gen. TY Danjuma Relaunches Union Dicon Salt to Revive Local IndustryKano Govt Receives Report on Commissioner's Alleged Role in Drug Baron's BailRivers Police Arrest Suspects in Lawyer's Murder, Recover WeaponsPolice Eliminate 8 Terrorists in Zamfara as Bandits Abduct 5 Residents, Rustle CattleTroops Intercept Illicit Logistics Bound for Cameroon, Uncovers, Destroys 14 IEDs in BornoWe are Here to Fix The Voice of Nigeria as A True Instrument of National Power – DG VONWhy Investments in Local Sugar Production is Profitable Now - NSDC BossKwankwaso, Northern Nigeria and the Politics of MarginalisationKemi Oomoale Badenough: A Liar By no Other Name by Chief Femi Fani-KayodePRNigeria Fellowship: A Model for NIPSS KuruPeter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My Bond”PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims
X whatsapp