FAAC REPORT – Revenue allocation to states and LGA for JANUARY 2014, shared in FEBUARY 2014

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 New Year for the month of January compared to December. The FAAC shared N629.12bn between the Federal, States and Local governments.

The amount for January is more than the previous month of December, which was N581.498 billion, this depicts an increase of N47.63billion.

The amount N629.12billion includes the statutory allocation of N503.68billion, Value Added Tax of N82.27billion, N35.54billion under the SURE-P programme and a refund of N7.617billion from NNPC.

A breakdown of the distribution indicated that the Federal government received N235.02billion (52.68%), State Government N119.20billion (26.72%) and the Local government received N91.9billion (20.6%). Furthermore, a total of N52.30 billion representing 13% derivation revenue was shared among the oil producing states.

Coronavirus factsheet


PT Mag Campaign AD

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.

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required


Now available on

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