x

FAAC: FG, states, LGs share N716.2bn for month of December

The Federation Accounts Allocation Committee (FAAC) has shared N716.298 billion to the three tiers of government for the month of December 2019.

The Permanent Secretary, Ministry of Finance, Budget and National Planning, Alhaji Isa Dutse disclosed this while addressing newsmen on the outcome of the meeting in Abuja on Thursday.

Dutse explained that the amount shared comprised revenue from Value Added Tax (VAT), Exchange Gain and the Statutory Revenue.

He said the Federal Government received N287.929 billion, the State Governments got N191.302 billion, and the Local Government Councils received N143.698 billion.

He added that the Oil Producing States received N50.279 billion as 13 per cent derivation revenue and the Revenue Generating Agencies received N43.089 billion as cost of revenue collection.

He said the gross statutory revenue for the month of December 2019 was N600.314 billion, adding that it was higher than the N491.875 billion received in the previous month by N108.439 billion.

The permanent secretary stated that the gross revenue available from VAT was N 114.805 billion as against N90.166 billion distributed in the previous month resulting in an increase of N24.639 billion.

According to him, exchange Gain yielded a total revenue of N1.179 billion.

Dutse disclosed that there was increase in the revenue from FIRS, especially from the non oil revenue, which he said was about 48 per cent increase. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

FG to Sanction Federal Tertiary Institutions Over Unapproved Satellite Campuses

The Federal Government has issued a stern warning to...

Eid-el-Kabir 2025: Ram Prices Soar Over 100% in Abuja Amid Insecurity, Scarcity

With Eid-el-Kabir fast approaching, livestock prices in Abuja have...

oborevwori Inaugurates Roads in Warri

...Urges Residents To Remain Peaceful, Law-abiding By Anne Azuka As part...

Mercy Johnson breaks silence after Angela Okorie claimed she’s sick

Nollywood star Mercy Johnson Okojie has broken her silence...

Oborevwori Inaugurates Hospital Equipment in Warri

By Ane Azuka  Governor, Sheriff Oborevwori of Delta State on...

NAF Reaffirms Unwavering Commitment to Safeguarding Nigeria’s Airspace

The Chief of the Air Staff (CAS), Air Marshal...

Bayelsa SWAN Hails Diri, Highlights Sports Strides

Amgbare Ekaunkumo, Yenagoa  The Bayelsa State Chapter of the Sports...

nasarawa Police Bust Arms Ring, Arrest Two

From Abel zwanke, Lafia  The Nasarawa State Police Command has...
spot_img

Related Articles

Popular Categories

spot_imgspot_img