FAAC: FG, States, LGs share N716.298bn in December [See Breakdown]

METRO PLUS

Hushpuppi: US court dismisses fraud case against Nigerian, Mr Woodberry

A US court has dismissed a fraud case against a Nigerian accused of cyber-crime, Olalekan Ponle, popularly known as Mr Woodberry.

Four Police officers arrested for fleeing kidnap scene of Maku’s niece

Four police officers who failed to stop the kidnapping of Salisu Usman Maku, nephew of former information minister Labaran Maku have been arrested.

54-year-old pastor defiles girl,10, in Ogun

• Teenager remanded for alleged rape of minor• Man, 28, rapes 14-year-old girlDaud Olatunji, Abiodun...

Generator fumes kill three Delta kids, carpenter falls, dies

Three siblings have died after inhaling generator fumes in Emevor community, in the Isoko North Local Government Area of Delta State.

Police arrest 60-year-old man for defiling 9-year-old girl in Anambra

Police in Anambra State have arrested a 60-year-old man for allegedly defiling a 9-year-old girl in Nkwelle Ezunaka, near Onitsha.

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, NAN reports.

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.

Sign up to FREE email alerts from Tribunepoint Weekly - Daily News

When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.

- Advertisement -

MOST READ

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

LATEST ARTICLES

Recession: Swallow your pride – Atiku tells Buhari

Alhaji Atiku Abubakar, a former Vice President and the Peoples Democratic Party’s presidential candidate in the last election, has given his major...

We are open to financial scrutiny, we are not afraid of probe – Ekiti Governor, Fayemi

The Governor of Ekiti State, Dr. Kayode Fayemi, has said the fact that his government was not afraid of probe propelled the...

Why APC Governors visited Jonathan – PDP

The People’s Democratic Party (PDP) says the All Progressives Congress (APC) Governors visited former President, Goodluck Jonathan because they have realised that...

End SARS: Buhari govt has abandoned police personnel whose properties were burnt during protest – Officer laments

A Superintendent of the Nigeria Police Force, NPF, on Saturday, accused the Nigerian government of neglecting officers whose properties were destroyed during...

2023: Why Goodluck Jonathan will not contest for presidency under APC

There have been reports that Governors elected on the platform of the All Progressives Congress (APC) met with former president, Goodluck Jonathan,...