FG, states, LGs share N429bn for February

Date: 2017-03-22

The Federal, States and Local governments in the country yesterday shared N429.127 billion as revenue from February 2017.

The amount distributed for March 2017, include deductions made from Value Added Tax (VAT).

Briefing journalists at the end of the Federation Account Allocation Committee (FAAC) yesterday, the minister of finance, Mrs. Kemi Adeosun said the gross statutory revenue for the month stood at N290.163 billion lower than the N324.990 billion received in the previous month by N34.827 billion.

She said there was revenue increase of $4.06 million of federation export sales due to a rise in crude oil export volume by 0.30 million barrels.

The distributable statutory revenue for the month is N258.692bn. The sum of N6.330bn was refunded by NNPC to the federation account. Another N60.899 billion came in from excess petroleum pricing tax account. Exchange gain for the period stood at N40.329bn.

The Federal Government got N117.581bn of the total allocation, representing 52.68 percent while, the States received N59.639bn, representing N26.72 percent, which is N35.395bn higher than last months' revenue allocation to the states.

The 774 local governments of the federation got N45.979bn or 20.60 percent from which 13 percent or N23.191bn derivation was shared among the oil and other mineral resources producing states across the country.

Oil production diminished during the period due largely to pipelines leakages arising from sabotage, according to the finance minister.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

07039448763     Monsurat Omotosho     Dauda Adesola     ER-KANG Mining     Agboola Babatunde     Crystal Corner Shops     NSCIA     Borgu     Taofik Abdulkareem Babaita     SSA Youth     Stephen Fasakin     Turaki     Bola Olukoju     Aminu Ado Bayero     Sa\'adatu Modibbo-Kawu     Ayobami Akanbi     Shuaib Abdulkadir     Oyelere Oyinloye     Okin Group     JSSCE     Abdulrahman Onikijipa     Yusuf Abubakar     HYPPADEC     Kwara State University Of Education     University Road     Col. Taiwo     GANZY     Abdulhakeem Amao     Plat Technologies Limited     Oba Abdulkadir La\'aro     Suleiman Mora Omar     Mubarak Oladosu     A.O. Belgore     Yusuf A. Usman     Ayobola Ipinlaiye     Oniyangi     Orisa Bridge     Kwara State Internal Revenue Service     Alaaya     Balogin Alanamu     Shaykh Luqman Jimoh     Kwabes     Kwara State Coalition Of Business And Professional Associations     Ahmed Shuaib Buranga     Jaiz Bank     Sarkin Malamai     Roseline Oni Aremu     Abdulrahman Abdulrasaq     Senate     EndSARS     Ajibola Saliu Ajia     Abdullahi Saadudeen Alikinla     Hassanat Bello     Universal Basic Education Commission     Nigeria Foundation For Artificial Intelligence     Raji Ayodele Kamaldeen     IYA YUSUF     Kwara Metro Park     Prince Bola Ajibola     Oro Grammar School Old Students Association     Rihanat Ajia     Olatunde Olukoya     Ibrahim Abdulkadir Abikan     Abdullahi Samari     Saliu Shola Taofeek     Dasuki Belgore     Aliyu Kora-Sabi     Ophthalmological Society Of Nigeria     IESA     Mohammed Ibrahim     Kwara United     Babajide Ajayi     Mohammed Lawal Bagega     Kwara Apc     Nigeria Governors\' Forum     Emir Of Yashikira     Solomon Edojah    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Simon Sayomi     KWIRS     Bilikisu Oniyangi     Hikmah AbdulKareem     Omotosho     Fatai Adeniyi Garba     Yekini Adio     Yusuf Lanre Badmas     Nurudeen Mohammed     NIPR     Diagnostic Centre     Rachael Obisesan     Congress For National Consensus     Yusuf Abubakar     Kwara Metro Park     Mufutau Olatinwo     Opolo Global Innovation Limited     11th Galadima     Kwara State Printing And Publishing Corporation     Wakilin Mata Lafiagi     National Broadcasting Commission     Saduki Lafiagi     Jebba     Joana Nnazua Kolo     Akom Construction And Engineering Synergy Ltd     Emir Of Shonga     Mahmud Durosinlohun Atiku     V.O. Abioye     IDPU     National Pilot     Ilorin Central Mosque     Abdulsalam A. Yusuf     Abdulhakeem Adelaja Amao     Police Commissioner     Surajudeen Akanbi     Gbemisola Saraki     New Model Police Station     Hakeem Idris     Senior Staff Union Of Colleges Of Education     Babatunde Idiagbon     Emir Of Yashikira     GGDSS Pakata     Oju Ekun Sarumi     Saba Jibril     High Court     Abatemi-Usman     Afolayan     Paul Olawoore     Abdulrasaq Alaro     Usman Rifun     Mahmud Ayinla Giwa     Federal Polytechnic Offa     Bolakale Ayo     Falokun-Oja     Akande Idowu Ayoola Muhammed     Muhammad Yahya     Aliyu Kora-Sabi     Shola Odetundun     Alabe     Salaudeen Oyewale     Ayegbeni     PharmAccess Foundation     Oyin-Zubair     Okanlawon Musa     Olumide Daniel Ibitoye     Ike Ekweremadu     First Lady     Kudirat Arinola Lawal     Al-Hikmah University     Muslim Cementary     Abdulrahman Abdullahi Kayode     Abdulrauf Yusuf     Opaleke Bukola Iyabo     Adebayo Salami     Admiralty Villa     Saidu Kawu     Abdulganiyu Oladosu