• Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
Nigerian Daily Post
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
No Result
View All Result
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
No Result
View All Result
Nigerian Daily Post
No Result
View All Result

FAAC Shares N966bn to Federal, States Local Governments as July Allocation

admin by admin
August 23, 2023
in National News
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter
For advert placement, News publication, Event coverage and Promotions, call +2349012892630 or email us info@nigeriadailypost.com.ng

FAAC Shares N966bn to Federal, States Local Governments as July Allocation

The Federation Account Allocation Committee (FAAC) has shared a total sum of N966. 110 billion July 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for August 2023; chaired by the Hon. Minister of Finance and Coordinating Economy Dr. Wale Edun.

The N966. 110 billion total distributable revenue comprised distributable statutory revenue of N397. 419 billion, distributable Value Added Tax (VAT) revenue of N271. 947 billion, Electronic Money Transfer Levy (EMTL) of N12. 840 billion, and Exchange Difference revenue of N283. 904 billion.

In July 2023, the total deductions for cost of collection was N62. 419 billion and total deductions for transfers and refunds was N717. 962 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57

The communiqué stated that from the total distributable revenue of N966. 110 billion; the Federal Government received N374. 485 billion, the State Governments received N310. 670 billion and the Local Government Councils received N229. 409 billion. A total sum of N51. 545 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N1150. 424 billion was received for the month of July 2023. This was lower than the sum of N1152. 921 billion received in the previous month by N2. 497 billion.

From the N966. 110 billion distributable statutory revenue, the Federal Government received N374. 485 billion, the State Governments received N310. 670 billion and the Local Government Councils received N229. 409 billion. The sum of N51.545 billion was shared to the relevant States as 13% derivation revenue.

For the month of July 2023, the gross revenue available from the Value Added Tax (VAT) was N298. 789 billion. This was higher than the N293. 411 billion available in the month of June 2023 by N5. 378 billion.

The Federal Government received N40. 792 billion, the State Governments received N135. 974 billion and the Local Government Councils received N95. 181 billion from the N298. 789 billion distributable Value Added Tax (VAT) revenue.

The N12. 840 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N1. 926 billion, the State Governments received N6. 420 billion and the Local Government Councils received N4. 494 billion.

From the N397. 419 billion Exchange Difference revenue, the Federal Government received N190. 489 billion, the State Governments received N96. 619 billion, the Local Government Councils received N74. 489 billion and the sum of N35. 822 billion was shared to the relevant States as 13 percent mineral revenue.

According to the communiqué, in the month of July 2023, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties, Value Added Tax (VAT), Import and Excise Duties decreased significantly, while Electronic Money Transfer Levy (EMTL) increased considerably.

From:-

Bawa Mokwa
Director (Press and Public Relations)

Visited 3 times, 1 visit(s) today

For advert placement, News publication, Event coverage and Promotions, call +2349012892630 or email us info@nigeriadailypost.com.ng
Previous Post

NIGER STATE ORGANIZES TWO-DAY TRAINING FOR SSC ON SAFE SCHOOLS  IMPLEMENTATION. 

Next Post

Hon. Binta Mamman takes Charge as the first female Commissioner of Information,Niger State.

admin

admin

Related Posts

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.
National News

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

June 22, 2025
Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying
National News

Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying

June 21, 2025
NEMA creates awareness on tanker accident, fire prevention in Kwara state
National News

NEMA creates awareness on tanker accident, fire prevention in Kwara state

June 21, 2025
Etsu Nupe mourns Tsoida Nupe’s death
National News

Etsu Nupe mourns Tsoida Nupe’s death

June 21, 2025
Global Peace Foundation Nigeria Calls for Action Against Sexual Violence in Conflict
National News

Global Peace Foundation Nigeria Calls for Action Against Sexual Violence in Conflict

June 20, 2025
Defence Minister Advocates for Private Sector Investment in Nigeria’s Defence Industries at NACCIMA AGM.
National News

Defence Minister Advocates for Private Sector Investment in Nigeria’s Defence Industries at NACCIMA AGM.

June 20, 2025
Next Post

Hon. Binta Mamman takes Charge as the first female Commissioner of Information,Niger State.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 139 Followers
  • 205k Subscribers
  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Minimum wage : Gov. Bago directs full  implementation using Fed Govt. template. 

Minimum wage : Gov. Bago directs full  implementation using Fed Govt. template. 

November 3, 2024
Niger State Govt. commences payment of gratuities to Retirees.

Niger State Govt. commences payment of gratuities to Retirees.

May 22, 2025
Gov. Bago Sympathizes with Nigeria Army,reassures to curb insecurity in the State. 

Farmer Governor Umar Bago to increase workers salary by 35 percent – insider source

December 22, 2024
Four hundred level Student of IBBUL brutally attacked by her Ex-boy friend,damaged her eyes.

Four hundred level Student of IBBUL brutally attacked by her Ex-boy friend,damaged her eyes.

February 23, 2025

White Ribbon Alliance Nigeria is bringing Self-care closer to Niger state communities

0

NUT Niger state branch Felicitate Emir of Kagara on his presentation of staff of Office and Coronation.

0

Niger CJ to Introduce Case filtering system as way to Deconjesting Magistrates Courts, Disclosed at 2022 MAN WEEK

0

Fed High Court Minna has declared Hon Badaru as the Authentic APC State Assembly candidate for Suleja.

0
Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

June 22, 2025
Niger Governor Bago Donates ₦1 Billion and 50 Trucks of Assorted Grains to Mokwa Flood Victims.

Mokwa Flood Relief Support Group Calls for Urgent Action to Address Flood Disaster.

June 22, 2025
Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying

Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying

June 21, 2025
NEMA creates awareness on tanker accident, fire prevention in Kwara state

NEMA creates awareness on tanker accident, fire prevention in Kwara state

June 21, 2025

Recent News

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

June 22, 2025
Niger Governor Bago Donates ₦1 Billion and 50 Trucks of Assorted Grains to Mokwa Flood Victims.

Mokwa Flood Relief Support Group Calls for Urgent Action to Address Flood Disaster.

June 22, 2025
Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying

Benue State Governor’s Aide Arrested for Alleged Sex Extortion and Cyber Bullying

June 21, 2025
NEMA creates awareness on tanker accident, fire prevention in Kwara state

NEMA creates awareness on tanker accident, fire prevention in Kwara state

June 21, 2025

Follow Us

Browse by Category

  • Business
  • Crime
  • Education
  • Health
  • National News
  • Niger State Governor
  • Opinions
  • Politics
  • Sports
  • Uncategorized
  • World News

Recent News

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

Niger State NUJ Celebrates 70th Anniversary of National Union with Commendations for Leadership.

June 22, 2025
Niger Governor Bago Donates ₦1 Billion and 50 Trucks of Assorted Grains to Mokwa Flood Victims.

Mokwa Flood Relief Support Group Calls for Urgent Action to Address Flood Disaster.

June 22, 2025
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business

© 2024 All Rights Reserved

No Result
View All Result
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business

© 2024 All Rights Reserved