Nigerian govt, states, local govts share N652 billion in June

Acting President, Yemi Osinbajo at the FEC of 5th July 2017
Acting President, Yemi Osinbajo at the FEC of 5th July 2017

A total of N652.229 billion has been distributed as federal allocation for the month of June 2017 to the federal government, state governments and local government councils.

The communiqué issued by the sub-committee of the Federation Accounts Allocation Committee, FAAC, of the Office of the Accountant-General of the Federation, at the end of the meeting held on Tuesday in Abuja, indicated that the gross statutory revenue received for the month is N570.584 billion and is higher than the N317.562 billion received in the previous month by N253.022 billion.

The shared amount comprised the month’s statutory distributable revenue of N570.584 billion and the Value Added Tax of N81.645 billion.

Accordingly, from Net Statutory Allocation, the federal government received N274.893 billion representing (52.68 per cent); states received N139.429 billion (26.72 per cent); local government councils received N107.494 billion representing (20.60 per cent); while the oil producing states received N29.894 billion as 13 per cent derivation revenue.

Furthermore, from the revenue available from the Value Added Tax (VAT), federal government received N11.757 billion (15 per cent); states received N39.190 billion (50 per cent) while the local government councils received N27.433 (35 per cent).

The communique further explained that there was a decrease in the average price of crude oil from $55.18 to $50.27 per barrel and a significant decrease in export volume by 3.20 million resulted in decreased revenue from export sales revenue by about $183.68 million.

There was also shut-in and shut-down of pipelines due to the activities of vandals as well as for maintenance which impacted negatively on production.

Furthermore, the Force Majeure declared at the Forcados terminal since February 2016 was still in place. Significant increases were also recorded in Companies Income Tax being the peak period for its collection.


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  • Financial Thinkers Group

    Premium Times Editor,

    Where did eight (8) Trillion Naira go under BUHARI?

    So far not less than eight trillion
    Naira has been released to President Buhari since May 2015 – appropriated by
    the National Assembly – but nobody in Nigeria can point to the whereabouts of
    eight trillion which the Buhari government claims to have spent. Nigeria is under
    far worse darkness from electricity failure under President Muhamadu Buhari than
    at any time in the history of the country. Buhari’s appointed Minister for Electricity
    called Alhaji Raji Fashola does not know his own whereabouts inside the Ministry
    he was (mis) appointed to run, like a street-trader brought inside a brain surgery
    theater to put together a patient’s skull already opened up by neurosurgeons.

    Muhamadu Buhari has spent half of
    this year abroad and has virtually abandoned his duties albeit under the cover
    of self-awarded indefinite medical leave, but if he could be away for half a year,
    without any consequence, why would he not as well stay away from work and
    from his office duty throughout the year 2017 and return late next year to pick
    up his APC slot as party candidate for 2019 election; and then appoint 36 state
    coordinators of his presidential campaigns and go back to London to eat apples
    and berries?

    There’s really nothing stopping President Buhari from going away throughout
    the remainder of this year moreso that his approval rating is reported as going
    up (the longer he’s being away) according to a so-called local polling agency
    in Nigeria. A man who’s thrown his country into the longest economic recession,
    devalued the national currency by 60% + and brought about 17% inflation on top
    of 28 million un-employed youths in Nigeria today, is reported by the said local
    polling agency to presently have 57% approval rating – despite being in and out
    of the hospital and out of Nigeria most of this year.

    • Financial Thinkers Group

      ……….(2) Where did eight (8) Trillion Naira go under BUHARI?

      Muhamadu Buhari has spent half of
      this year abroad and has virtually abandoned his duties albeit under the cover
      of self-awarded indefinite medical leave, but if he could be away for half a year,
      without any consequence, why would he not as well stay away from work and
      from his office duty throughout the year 2017 and return late next year to pick
      up his APC slot as party candidate for 2019 election; and then appoint 36 state
      coordinators of his presidential campaigns and go back to London to eat apples
      and berries?

      There’s really nothing stopping President Buhari from going away throughout
      the remainder of this year moreso that his approval rating is reported as going
      up (the longer he’s being away) according to a so-called local polling agency
      in Nigeria. A man who’s thrown his country into the longest economic recession,
      devalued the national currency by 60% + and brought about 17% inflation on top
      of 28 million un-employed youths in Nigeria today, is reported by the said local
      polling agency to presently have 57% approval rating – despite being in and out
      of the hospital and out of Nigeria most of this year.

    • Wale

      Fake news.

      Fact checked.

      • Edward Obih

        @disqus_dFOAiJMW7b:disqus ,

        You go school at all? I don’t think so. How many years has Muhamadu Buhari spent in office?
        The answer is two (2) years, not so? Good. How much is federal government budget per year?
        It is four trillion Naira. Okay? Add four trillion to four trillion, what do you get? You will get eight
        trillion Naira. So where is the fake news you are talking about or have you just bought your own
        CNN at home to be watching Donald Trump and you come here just to copy him without thinking?

        • DONALDSON

          you are a refrak and a son of imbecile, infact the most iresponsible fellow i have ever seen or heard of in this world is you. how can you defend the clules government of buhari to the extent of reducing it yearly budget spending for no reason whatsoever? it is an undeniable fact that buhari spent 7. 6 trillion in his first budget year and 7.8 trillion is budgeted to be spend this year making it a total of almost 16 trillion in two year. wich incidentally tople Jonathan’s total budget in 4 yers, but you the agent of darkness and APC tug is here defending APC for spending only 4 trillion in it last two years budget.

  • Issei

    The significant increase is as a result of
    The end of June due date for paying of
    Previous year taxes for companies.with the
    Close in and short out of some oil platforms next faac meeting will be tough because our
    Emperors the governor’s will find it difficult to
    Pay next month salary.and as we can see dollar is on the rise this week because of the windfalls fromFACC

  • Wale

    Biafra received how much?

    This is the type of questions biafrans should ask their governors and ask for accountability, but instead, every non ibo is an animal living in the zoo.

  • Justice Equity

    Time has ran out for Nigeria, if we start today ,we shall be racing against time to save the ruins of this fraudulent contraption, if we continue with this fraud hoping against hope,we all shall be the loser .
    Nigeria must restructure now or completely destroy herself.
    A structure that threw up the likes of buhari as president and osibanjo as his vice is immoral, reprehensible and destructive.
    How on earth should an erudite professor of law,a minister of grace,a great thinker,an outstanding performer and very intelligent personality be made to deputize an old illiterate,weak,tired,clueless,sick grandpa in a leadership position that demands the best that a nation can offer.
    A structure that made Nigeria to continue to borrow money to pay salaries, made her annual recurrent expenditure to take 80% of her budget while capital take 15% ,a structure that made her FG take a total 52% of her resources while 36+1 states and 774 local government share 22 +16% ,a structure that made her FG take exclusive reserve of all mineral resources in the federation without any plan to develop them,a structure that made her FG take over the highways, bridges, airports, seaports and use same to obstruct the growth and economic development of some sections etc.That immoral, inimical, fraudulent, obstructive structure must be demolished and restructured for peace, unity,progress and prosperity to come to Nigeria.
    Nigeria must restructure now or completely destroy herself.