FAAC SHARES N655.177 BILLION FOR THE MONTH OF DECEMBER, 2017.
The three tiers of government have received the allocation of 655.177 billion naira from Federation Account Allocation Committee for the month of December, 2017.
The gross revenue available from the Value Added Tax was 83.963 billion naira as against 80.426 billion distributed in the preceding, resulting in an increase of 3.537 billion naira.
Minister of Finance, Kemi Adeosun, who addressed newsmen after the meeting late night on Tuesday in Abuja, disclosed that the gross statutory revenue of 540.446 billion received for the month was lower than the 549.533 billion received in the previous month by 9.087 billion naira.
She said the decrease in crude oil export sales by 0.59 million barrels resulted in decreased revenue from export sales of $11.65 million.
Adeosun further revealed that the Federal government received N252.543 billion, States government got N128.093 billion and Local Government councils were given N98.755 billon, while oil derivation States got N47.738 billion.
In the meantime, the minister said the excess crude account remains 2.317 billion dollars.
More Stories
JUST IN: ASUU-IMSU COMMENCES INDEFINITE STRIKE OVER UNFULFILLED DEMANDS
On Friday, September 20, 2024, the Imo State University (IMSU) branch of the Academic Staff Union of Universities (ASUU) announced...
#EDODECIDES2024: POLICE NAB NINE SUSPECTS FOR VOTE BUYING, OTHER OFFENCES
No fewer than nine suspects have been arrested by personnel of the Nigeria Police Force during the ongoing Edo State...
LAGOS TO OBSERVE ANNUAL CAR-FREE DAY THIS SUNDAY
The Lagos State Government, in collaboration with the Lagos Urban Development Initiative (LUDI) and other Stakeholders, will observe the annual...
#EDODECIDES2024: PDP DEMANDS IMMEDIATE RELEASE OF ARRESTED VOTERS
The Peoples Democratic Party has demanded the immediate and unconditional release of voters, including its members and supporters who were...
LAGOS DECLARES SUPPORT FOR PERSONS WITH DEAF-BLIND CONDITIONS
Lagos State Government has joined the rest of the world to declare the third Saturday in September of every year...
LAGOS CSC TO INTEGRATE SUSTAINABLE PRACTICES FOR ENHANCED DELIVERY
The Lagos State Civil Service Commission (CSC) has emphasised the importance of integrating sustainable practices into its operations in alignment...