FAAC REPORT – Revenue allocation to states and LGA for December 2013, shared in January 2014

NIGERIA MAP - FAAC-2

The three tiers of government in the country [Federal, State, and Local Councils] enjoyed an expanded take-home income from the Federal Account Allocation Committee [FAAC] in the month on December. The FAAC says it shared N581.498 billion between the Federal, States and Local governments. The amount for December is less than the previous month of November which was N675, 650billion.

The gross revenue collected in December was N64.725 billion.

The Minister of State for Finance, Dr Yerima Ngama, announced that the amount originally budgeted for the month was N623.768 billion, however the figure actually distributed was N473.607 billion (amount excluding refund by NNPC, VAT, and fund from SURE-P).

The allocated amount of N581.498, includes N7.617 billion refunded by NNPC, N64.725 billion from Value Added Tax (VAT) and N35.549 billion from SURE-P Programme.

A breakdown of the distribution indicated that the Federal Government received N221.161billion, (52.68%), while the State received N112.176 billion (26.72%) and the Local Government received N86.483 billion (20.60%). Furthermore, a total of N48.461 billion representing 13% derivation revenue was shared among the oil producing states.

(This is demonstrated clearly in the table below).

Revenue allocation analysis with chart-December13

Revenue allocation analysis with chart-December 2013 - January 2014


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:DIABETES Is CURABLE! Don't Let It Threaten You! To NORMALIZE Your Blood Sugar In 21Days For Life, Click Here!!!.


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • Johnbull Esther

    Tools Good day Nigerians This is an information you all want to hear,

    LIKE AND SHARE THIS TO HELP THE LIFE OF OTHERS,

    THIS IS A LIFE TIME OPPORTINITY,

    We sell varieties of vehicles, vehicles of

    your taste, very clean and in good working condition.

    Vehicles are ranging from 2000 – 2014 models of all vehicles.

    call 07063150097 / 08136738854 for assistance,

    Please don’t pay any money to any dealer online

    before seeing your vehicle only delivery