Global News

FG, States, LGs share N640bn for January [Breakdown]

FG, States, LGs share N640bn for January [Breakdown] (Updated: Friday, 19th February 2021, 09:37 AM)


The Federation Accounts Allocation Committee (FAAC) has shared N640.310billion to the three tiers of government for January.

The fund included revenue collections by Nigeria Customs Service (NCS) Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS).

Hassan Dodo, the Director of Information, Ministry of Finance, gave the breakdown in a communique issued after FAAC meeting on Thursday.

The Federal Government received N226.998billion, States received N177.171billion, Local Government Councils got N131.399billion.

Oil producing states received N26.777billion as derivation (13 per cent of Mineral Revenue) and Cost of Collection/Transfer and Refunds got N75.966billion.

The Gross Revenue available from the Value Added Tax (VAT) for January was N157.351billion.

This was against N171.358billion distributed in the preceding month of December 2020, resulting in a decrease of N14.007billion.

The distributed Statutory Revenue of N482.958billion received for January was higher than the N437.256billion received for December 2020.

The communique said Companies Income Tax (CIT), Oil and Gas Royalty, VAT, and Excise Duty recorded marginal to significant decreases.

However, Import Duty increased marginally, while Petroleum Profit Tax (PPT) recorded a considerable increase.

Add a coment

Recent Posts

Samklef
Samklef
Sugarboy
Sugarboy
Killertunes
Killertunes
Sola Allyson
Sola Allyson
Lil Kesh
Lil Kesh
Wizkid
Wizkid
Omar Sterling
Omar Sterling
Ichaba
Ichaba
Rayvanny
Rayvanny
Praiz
Praiz
Sinzu
Sinzu
Dice Ailes
Dice Ailes
Timaya
Timaya
Otega
Otega
Stormyzino
Stormyzino
Seyi Vibez
Seyi Vibez
LK Kuddy
LK Kuddy
Barry Jhay
Barry Jhay
Adekunle Gold
Adekunle Gold
Sinach
Sinach
Bisa Kdei
Bisa Kdei
Lilyungage
Lilyungage
King Promise
King Promise
Popcaan
Popcaan
Sean Tizzle
Sean Tizzle
Skaa
Skaa
JeriQ
JeriQ
Ice Prince
Ice Prince
Madrina
Madrina
Victony
Victony
Dr Dolor
Dr Dolor
Yung Effissy
Yung Effissy
Ijoba...
Ijoba...
Magixx
Magixx
Iyanya
Iyanya
Aramide
Aramide
Oxlade
Oxlade
Moelogo
Moelogo
Medikal
Medikal
Chinko Ekun
Chinko Ekun
NAIJAKIT.COM

Trending Posts