• 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
    • 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

      Bashir Adewale Adeniyi Customs Boss

      How Customs is Tightening Borders to Stop Illicit Cash Flows –…

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Codeine, Tramadol Worth ₦20.5bn Seized as Customs-NAFDAC Cooperation Deepens

  • National
    • Dr. Emmanuel Ojukwu and representatives at NIPR FCT the meeting

      NIPR FCT Chapter Focuses on Crisis Communication and Professionalism

      Inspector-General of Police Kayode Adeolu Egbetokun

      IG Boosts Police Intelligence Capacity with New Tech, Training for Technical…

      Army Commander keeps 100 students in school

      Army Commander’s Compassion Keeps 100 Students in School in Zamfara

      Sam Obi Sponsors 500 students

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

      CG Customs Bashir Adewale Adeniyi

      NIPR Hails customs Boss’ Tenure Extension as Evidence of Transformational Leadership

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

        Dr. Emmanuel Ojukwu and representatives at NIPR FCT the meeting

        NIPR FCT Chapter Focuses on Crisis Communication and Professionalism

        Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

        FG Reacts to Niger Governor’s Closure of Badegi FM

        Northern leaders at Arewa Summit

        Northern Leaders Urge Action on Almajiri Crisis, Equitable Resources at Arewa…

        Saidu Ahmed Alkali,

        Kaduna-Kano Light Rail Underway as FG Targets ₦70bn Investment

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

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

      Inspector-General of Police Kayode Adeolu Egbetokun

      IG Boosts Police Intelligence Capacity with New Tech, Training for Technical…

      Nigerian Police Force

      Anambra Police Nab Wanted Kidnap Suspect in Kaduna

      Nigerian Navy

      Navy to Establish  Base in Kebbi to Tackle Inland Waterway Crimes

      Army Commander keeps 100 students in school

      Army Commander’s Compassion Keeps 100 Students in School in Zamfara

  • Features
    • CG Customs Bashir Adewale Adeniyi

      Customs Just Wrote Nigeria’s Energy Rulebook

      Okello Oculi

      Okello Oculi: A Pan-Africanist Asteroid Burns out Forever By Is’haq Modibbo…

      Leon Usigbe

      Death, you can’t be Proud of this By Abdulrahman Abdulraheem 

      Tinubu’s Plateau Gambit – Yilwatda, 2027, and the Return of the…

      Ozumi and a recipient of a wheelchair

      Wheels of Hope: How a Simple Gift is Reshaping Lives at…

  • State
    • court Judiciary

      Lawyer Sues Housing Ministry, FHA Over Alleged Property Redesign

      Army Commander keeps 100 students in school

      Army Commander’s Compassion Keeps 100 Students in School in Zamfara

      Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, receiving the land document from Governor Pastor Umo Bassey Eno in Akwa Ibom

      Akwa Ibom Boosts National Security with Land Donation for Nigerian Air…

      Nigerian Army

      Army Denies Allegations of Misconduct in Imo Community

      Military Troops in Action

      Troops Repel Bandit Attacks in Katsina, Plateau, Recover Rustled Cattle, Sustain…

  • Event
    • 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

      Comptroller General Customs Bashir Adewale and his staffs with the representatives of the European Union, the German Embassy

      Customs Unveils Renewable Energy Handbook, Strengthens EU-Germany-GIZ Partnership

      University of Maiduguri

      UNIMAID Mass Comm becomes Faculty of Communication and Media Studies

    • PR Nigeria Award
  • E-Paper
Home Economy FAAC Shares N616bn in May 2019
  • Economy

FAAC Shares N616bn in May 2019

By
Ojo A. Olubunmi
-
May 22, 2019

FAAC Shares N616bn in May 2019

A total of N616.198 billion has been distributed as Federal Allocation for the month of April, 2019 by the Federal Government, State Governments and Local Government Councils.

The communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Committee (FAAC) and signed by the Ag. Accountant-General of the Federation, Mr. M. K Usman at the end of the meeting held today in Abuja, indicated that the gross statutory revenue of N518.916 billion received for the month is higher than the N446.647 billion received in the previous month by N72.269 billion.

Revenues from Petroleum Profit Tax (PPT), Import duty and Companies Income Tax (CIT) recorded significant increases while Oil Royalty and Export duty decreased substantially. Value Added Tax (VAT) increased marginally. The total revenue distributable for the current month (including VAT and Exchange Gain) is N616.198 billion.

Read Also:

  • Olubaka of Oka Praises Foundation for “Best Oka Day” Festival
  • NIPR FCT Chapter Focuses on Crisis Communication and Professionalism
  • Troops Eliminate Dozens of Terrorists, Arrest 578 Suspects in July Operations

The shared amount comprised the Month’s Statutory distributable revenue of N512.609 billion, the gross revenue available from the Value Added Tax (VAT) was N96,485 billion as against N92, 181 billion distributed in the preceeding month, resulting in an increase of N4, 304 billion.

Accordingly, from Net Statutory revenue, Federal Government received N253.918 billion representing (52.68%); States received N168.056 billion (26.72%); Local Government Councils received N126.278 billion representing (20.60%); while the Oil Producing States received N46.353 billion as 13% derivation revenue. Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N13.894 billion (15%); States received N46.313 billion (50%) while the Local Government Councils received N32.419 billion (35%).

Consequently the total revenue distributable for the Month of April including VAT is N616.198 billion.

The balance on Excess Crude Account is $144 Million.

Ojo A. Olubunmi P.I.O
for: DD/Head Press & Public Relations (OAGF) 21st May, 2019.

‘Bunmi Ojo
COMMUNICATIONS OFFICER

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
  • May
  • N616BN
Previous articleNigerian Army Deploys more Equipment to North-East
Next articleNAF Chief Charges Personnel to Tackle Insecurity
Ojo A. Olubunmi
Ojo A. Olubunmi
http://www.PRNigeria.com

RELATED ARTICLESMORE FROM AUTHOR

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

Bashir Adewale Adeniyi Customs Boss

How Customs is Tightening Borders to Stop Illicit Cash Flows – CG Adeniyi 

Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

Codeine, Tramadol Worth ₦20.5bn Seized as Customs-NAFDAC Cooperation Deepens

Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

Abdullahi Aliyu Maiwada

Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

CBN

The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri Idakwo Laruba

Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy and National Security

Google Search Tech Digest

7 Smart Google Search Tips That Will Save You Hours By Shuaib S. Agaka | Tech Digest

U.S. VISA

REVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months in Reciprocal Policy Shift

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Olubaka of Oka Praises Foundation for “Best Oka Day” Festival
  • NIPR FCT Chapter Focuses on Crisis Communication and Professionalism
  • Troops Eliminate Dozens of Terrorists, Arrest 578 Suspects in July Operations
  • FG Reacts to Niger Governor’s Closure of Badegi FM
  • Information Ministry Inaugurates Anti-Corruption Unit to Deepen Transparency
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Olubaka of Oka Praises Foundation for "Best Oka Day" FestivalNIPR FCT Chapter Focuses on Crisis Communication and ProfessionalismTroops Eliminate Dozens of Terrorists, Arrest 578 Suspects in July OperationsFG Reacts to Niger Governor’s Closure of Badegi FMInformation Ministry Inaugurates Anti-Corruption Unit to Deepen TransparencyIG Boosts Police Intelligence Capacity with New Tech, Training for Technical Intelligence UnitAnambra Police Nab Wanted Kidnap Suspect in KadunaCustoms Just Wrote Nigeria's Energy RulebookLawyer Sues Housing Ministry, FHA Over Alleged Property RedesignNavy to Establish  Base in Kebbi to Tackle Inland Waterway CrimesArmy Commander's Compassion Keeps 100 Students in School in ZamfaraSam Obi Sponsors 500 Students in Evergreen, SimplifiedIQ's Education ProgramNIPR Hails customs Boss' Tenure Extension as Evidence of Transformational LeadershipAkwa Ibom Boosts National Security with Land Donation for Nigerian Air Force BaseCustoms Unveils Renewable Energy Handbook, Strengthens EU-Germany-GIZ Partnership
X whatsapp