FAAC SHARES N902BN BETWEEN FG, STATES AND LGs FOR NOVEMBER 2022
By Leke Yusuf
The Federation Account Allocation Committee (FAAC) has shared a total sum of 902.053 billion Nairaas November 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils.
This was contained in a communiqué issued at the end of the Committee ‘s meeting for December 2022.
A press statement by Henshaw Ogubike, Director (Information, Press and Public Relations) office of the accountant general of the federation shows that of the total distributable revenue comprised distributable statutory revenue of N681.079 billion, distributable Value Added Tax revenue of N202.839 billion, Exchange Gain revenue of N7.164 billion and N10.971 billion Electronic Money Transfer Levy (EMTL) revenue.
The balance in the Excess Crude Account (ECA) was $473,754.57.
According to the Communiqué, in the month of November 2022, Oil and Gas Royalties and Petroleum Profit Tax (PPT) recorded significant increases while Import and Excise Duties increased marginally. However, Value Added Tax (VAT) and Companies’ Income Tax (CIT) decreased considerably.
More Stories
LASEPA HOLDS CAPACITY-BUILDING WORKSHOP FOR ETP OPERATORS
ln a proactive move to uphold environmental standards and combat the menace of environmental pollution, the Lagos State Environmental Protection...
TESCOM DEBUNKS RECRUITMENT POST ON SOCIAL MEDIA
The Chairman, Lagos State Teaching Service Commission (TESCOM), Mrs. Victoria M. Peregrino has called on the general public and particularly,...
LAGOS GOVT ANNOUNCES COMMENCEMENT OF APPLICATIONS FOR 2024/2025 LATEEF JAKANDE LEADERSHIP ACADEMY COHORT
The Lagos State Government has announced the commencement of the applications for the 2024/2025 Lateef Jakande Leadership Academy Cohort. According...
NFF SHORTLISTS THREE COACHES FOR SUPER EAGLES JOB
Former international, Emmanuel Amuneke, Domenec Torrent and Antonio Conceicao have made the final three-man shortlist for the Super Eagles coaching...
EUROPA LEAGUE: LEVERKUSEN DIDN’T PLAY TO THEIR BEST AGAINST WEST HAM – TELLA
Super Eagles winger, Nathan Tella has revealed that Bayer Leverkusen were not at their best when they played out a...
HEARTLAND GETS NPFL NOD TO RETURN TO OWERRI
Heartland has been granted provisional approval to play their remaining home games of the season at the Dan Anyiam Stadium....