FAAC disburses N619.34bn in January 2021 – NBS

FAAC disburses N619.34bn in January 2021 - NBS

FAAC disburses N619.34bn in January 2021 – NBS     The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December 2020 from the revenue generated in January 2021. The amount disbursed comprised of N437.26bn from the Statutory Account, N3.83bn as Exchange Gain Difference, N6.90bn from Distribution of FOREX Equalisation and N171.36bn from Valued Added Tax (VAT). Federal Government received a total of N218.30bn from the N619.34bn. States received a total of N178.30bn and Local Governments received N131.79bn. The sum of N31.83bn…

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FAAC disburses N619.343bn to FG, states LGs

FAAC disburses N619.34bn in January 2021 - NBS

FAAC disburses N619.343bn to FG, states LGs   The Federation Accounts Allocation Committee (FAAC) on Wednesday at its virtual meeting shared a total sum of N619.343 billion as federation allocation for the month of December 2020 to the three tiers of government. From this amount, the Federal Government received N218.297 billion; states received N178.28 billion; Local Government councils got N131.792 billion; while the oil producing states received N31.827 billion as 13 per cent derivation of mineral revenue. A statement issued in Abuja by the spokesperson of the Federal Ministry of…

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NBS Report: Allocation drops 6.2% as FAAC disbursed N639.9bn in October

FAAC disburse

The Federal Account Allocation Committee (FAAC) disbursed a sum of N639.9 billion to the three tiers of government in October 2020 from the revenue generated in September 2020. This is contained in the latest monthly FAAC disbursement report, released by the National Bureau of Statistics (NBS) and analysed by Business Metrics. The report indicated 6.2 per cent drop in the monthly disbursement compared to N682.1 billion shared in September and 5.4 per cent decline compared to N676.4 billion shared in August 2020. Further breakdown of the NBS report shows that Federal…

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FG, states, local govts share N682.1bn in August

FAAC disburses N619.34bn in January 2021 - NBS

As statutory revenue sheds N11.96bn ____________________________ The Federation Accounts Allocation Committee (FAAC) has shared a total of N682.06bn August 2020 federation account revenue to the federal, states and Local Government councils and some revenue agencies. FAAC also revealed in a communique it issued in Abuja on Thursday that the gross statutory revenue of N531.83bn was received for the month of August, which was lower than the N543.79bn received in the previous month by N11.96bn. The committee made this known after its monthly meeting for September, which was held through virtual…

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