• About
  • Advertise
  • Contact
Saturday, May 10, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

FAAC Shares N1.143trillion May Revenue To FG, States, LGs

Vital News by Vital News
June 10, 2024
in Economy, News
0
FG , States, LGs Share N1.208 trillion April Revenue
Share on FacebookShare on Twitter

A total sum of N1,143.210 billion May 2024 Federation Accounts Revenue has been shared to the Federal Government, States and Local Government Councils in the country.

Bawa Mokwa, Director of Press and Public Relations in the office of the Accountant -General of the Federation announced this ina statement Monday night.

Mokwa said the revenue was shared at the June 2024 meeting of the Federation Accounts Allocation Committee (FAAC), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The meeting was held on Monday in Abuja.

In a communiqué issued by the Federation Accounts Allocation Committee (FAAC), the N1,143.210 billion total distributable revenue comprised distributable statutory revenue of N157.183 billion, distributable Value Added Tax (VAT) revenue of N463.425 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.146 billion and Exchange Difference revenue of N507.456 billion.

RelatedStories

Hajj 2025 : Disagreement Between NAHCON, Saudi Arabia Stalls Flight Of 40,671 Pilgrims To Mecca

CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah

Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers

President Tinubu Appoints MDs, Chairmen For Regional Development Commissions

” Total revenue of N2,324.792 billion was available in the month of May 2024.

“Total deduction for cost of collection was N76.647 billion while total transfers, interventions and refunds was N1,104.935 billion.

“Gross statutory revenue of N1,223.894 billion was received for the month of May 2024. This was lower than the sum of N1,233.498 billion received in the month of April 2024 by N9.604 billion.

“The gross revenue of N497.665 billion was available from the Value Added Tax (VAT) in May 2024.

“This was lower than the N500.920 billion available in the month of April 2024 by N3.255 billion,” the communique said.

It confirmed that from the N1,143.210 billion total distributable revenue, the Federal Government received total sum of N365.813 billion, the State Governments received total sum of N388.419 billion and the Local Government Councils received total sum of N282.476 billion.

A total sum of N106.502 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

On the N157.183 billion distributable statutory revenue, the communiqué stated that the Federal Government received N61.010 billion, the State Governments received N30.945 billion and the Local Government Councils received N23.857 billion.

The sum of N41.371 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

The Federal Government received N69.514 billion, the State Governments received N231.713 billion and the Local Government Councils received N162.199 billion from the N463.425 billion distributable Value Added Tax (VAT) revenue.

A total sum of N2.272 billion was received by the Federal Government from the N15.146 billion Electronic Money Transfer Levy (EMTL).

The State Governments received N7.573 billion and the Local Government Councils received N5.301 billion.

From the N507.456 billion Exchange Difference revenue, the Federal Government received N233.017 billion, the State Governments received N118.189 billion and the Local Government Councils received N91.119 billion.

A total sum of N65.131 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

According to the communiqué, in the month of May 2024, Companies Income Tax Oil (CIT) and Petroleum Profit Tax (PPT) increased significantly while Import and Excise Duties, Royalty Crude and Gas, Electronic Money Transfer Levy (EMTL), CET Levies and Value Added Tax (VAT) recorded considerable decreases.

The balance in the ECA was $473,754.57.   (vitalnewsngr.com)

 

Tags: FAACFGrevenueStates
Previous Post

Tinubu Removes Solomon Arase As Chairman  Of Police Service Commission

Next Post

President Bola Tinubu’s Democracy Day National Address

Vital News

Vital News

RelatedStories

Hajj 2025 : CBN Approves Cash-based BTA For Pilgrims To Ease Travel Demands
News

Hajj 2025 : Disagreement Between NAHCON, Saudi Arabia Stalls Flight Of 40,671 Pilgrims To Mecca

May 9, 2025
CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah
News

CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah

May 9, 2025
Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers
News

Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers

May 9, 2025
Tinubu, Dangote Refinery And Mele Kyari’s Sack
National

President Tinubu Appoints MDs, Chairmen For Regional Development Commissions

May 9, 2025
Hajj 2025 : CBN Approves Cash-based BTA For Pilgrims To Ease Travel Demands
National

Hajj 2025 : NAHCON Commences Airlifting Of 40,671 Pilgrims To Mecca

May 9, 2025
Next Post
ECOWAS Plans Standby Force To Counter Terrorists, Promises To Ease Sanctions On Niger Republic If …..

President Bola Tinubu’s Democracy Day National Address

Abiodun Directs Immediate Renovation Of MKO Abiola’s House In Abeokuta

Abiodun Directs Immediate Renovation Of MKO Abiola's House In Abeokuta

Kaduna Governor Pardons 22 Convicts, Secures Release Of 88 Awaiting Trial Inmates

Kaduna Governor Pardons 22 Convicts, Secures Release Of 88 Awaiting Trial Inmates

Leave a Reply Cancel reply

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

Follow Us

Recommended

Israel Airstrikes Kill 89 UN Staff In Gaza

Israel Airstrikes Kill 89 UN Staff In Gaza

2 years ago

NELMCO Board Asked To Resolve Tariff Crisis In Power Sector At Inauguration By Osinbajo

3 years ago
There Is No Good Road To Niger  by Dare Babarinsa

There Is No Good Road To Niger by Dare Babarinsa

2 years ago
Benue Moves To Reclaim Shares In Gboko Cement Plant, Drags Dangote To Court

Benue Moves To Reclaim Shares In Gboko Cement Plant, Drags Dangote To Court

3 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power rescue road Security Senate students Tinubu US
No Result
View All Result

Highlights

Adamu Ailero, Two Other Kebbi PDP Senators Defect To APC

Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers

Kogi Judicial Service Commission Sends Judge On Compulsory Retirement For Corruption, Suspend Magistrate For Two Years

TMV Hails NELFUND’s Disbursement Of N53bln, Says Nigerian Students Have Cause To Celebrate

President Tinubu Appoints MDs, Chairmen For Regional Development Commissions

Hajj 2025 : NAHCON Commences Airlifting Of 40,671 Pilgrims To Mecca

Trending

Abiodun Inaugurates Nigeria’s First Rapid Diagnostic Test Production Facility In Ogun
Health

Abiodun Inaugurates Nigeria’s First Rapid Diagnostic Test Production Facility In Ogun

by Vital News
May 9, 2025
0

Governor Dapo Abiodun,of Ogun State on Friday inaugurated Nigeria's first large-scale rapid diagnostic test (IVD) production facility...

Hajj 2025 : CBN Approves Cash-based BTA For Pilgrims To Ease Travel Demands

Hajj 2025 : Disagreement Between NAHCON, Saudi Arabia Stalls Flight Of 40,671 Pilgrims To Mecca

May 9, 2025
CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah

CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah

May 9, 2025
Gov. Radda, APC Chairman Present As Three PDP House Of Reps Members Defect To APC

Adamu Ailero, Two Other Kebbi PDP Senators Defect To APC

May 9, 2025
Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers

Kogi Police Command Organises Conference On Operational Capacity, Mental Health, Financial wellness For Officers

May 9, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Abiodun Inaugurates Nigeria’s First Rapid Diagnostic Test Production Facility In Ogun May 9, 2025
  • Hajj 2025 : Disagreement Between NAHCON, Saudi Arabia Stalls Flight Of 40,671 Pilgrims To Mecca May 9, 2025
  • CESVO Confers Ethics And Integrity Ambassador Award On Ododo’s Spokesman, Ismaila Isah May 9, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In