• About
  • Advertise
  • Contact
Saturday, May 31, 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 N1.424trillion December 2024 Revenue Among FG, States, Local Governments

Vital News by Vital News
January 17, 2025
in Economy, National, News
0
FAAC Shares N1.424trillion December 2024 Revenue Among FG, States, Local Governments
Share on FacebookShare on Twitter

Federation Account Allocation Committee (FAAC) on Friday shared N1.424 trillion December, 2024 revenue among the Federal Government,States and the Local Government Councils.

The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N1.424 trillion revenue comprised distributable statutory revenue of N386.124 billion, distributable Value Added Tax (VAT) revenue of N604.872 billion, Electronic Money Transfer Levy (EMTL) revenue of N31.211 billion and Exchange Difference revenue of N402.714 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N2.310 trillion was available in the month of December 2024.

Total deduction for cost of collection was N84.780 billion while total transfers, interventions and refunds was N801.175 billion.

RelatedStories

Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA

Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

21 Die, 10 Missing In Niger Flood Disaster

According to the communiqué, gross statutory revenue of N1.226 trillion was received for the month of December 2024.

This was lower than the sum of N1.827 trillion received in the month of November 2024 by N600.988 billion.

Gross revenue of N649.561 billion was available from the Value Added Tax (VAT) in December 2024.

This was higher than the N628.973 billion available in the month of November 2024 by N20.588 billion.

The communiqué stated that from the N1.424 trillion total distributable revenue, the Federal Government received N451.193 billion while State Governments received N498.498 billion.

The Local Government Councils received N361.754 billion while N113.477 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.

On the N386.124 billion distributable statutory revenue, the communiqué stated that the Federal Government received N167.690 billion and the State Governments received N85.055 billion.

The Local Government Councils received N65.574 billion and the sum of N67.806 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N604.872 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N90.731 billion, the State Governments received N302.436 billion and the Local Government Councils received N211.705 billion.

A total sum of N4.682 billion was received by the Federal Government from the N31.211 billion Electronic Money Transfer Levy (EMTL).

The State Governments received N15.605 billion and the Local Government Councils received N10.924 billion.

From the N402.714 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N188.090 billion and the State Governments received N95.402 billion.

The Local Government Councils received N73.551 billion, while the sum of N45.671 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

In December 2024, Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL) increased significantly while Oil and Gas Royalty, CET Levies, Excise Duty, Import Duty, Petroleum Profit Tax(PPT) and Companies Income Tax (CIT) decreased considerably.
(vitalnewsngr.com)

Tags: DecemberFAACrevenueshare
Previous Post

Vandals Throw Abuja Central Area Into Darkness, Aso Rock Affected

Next Post

Ogun Goes Tough On Cultism, Ritual Killings, To Execute Condemned Criminals To Stem Tide

Vital News

Vital News

RelatedStories

Death Toll From Niger Flood Disaster Rises To 115,  Many Still Missing – NSEMA
Environment

Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA

May 30, 2025
Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance
Culture

Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

May 30, 2025
NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State
Environment

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

May 30, 2025
21 Die, 10 Missing In Niger Flood Disaster
Environment

21 Die, 10 Missing In Niger Flood Disaster

May 29, 2025
Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

May 29, 2025
Next Post
Abiodun Promises To Release 100 CNG Buses, Warns Transporters Against Exploitation

Ogun Goes Tough On Cultism, Ritual Killings, To Execute Condemned Criminals To Stem Tide

Popular Fuji Musician, King Wasiu Ayinde Loses Mother

Popular Fuji Musician, King Wasiu Ayinde Loses Mother

Abiodun Approves Recruitment Of Additional 1,000 Amotekun Personnel, Asks Criminals To Stay Off Ogun

Abiodun Approves Recruitment Of Additional 1,000 Amotekun Personnel, Asks Criminals To Stay Off Ogun

Leave a Reply Cancel reply

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

Follow Us

Recommended

Digital Economy : BPSR Restates Need For Privacy, Data Protection

Digital Economy : BPSR Restates Need For Privacy, Data Protection

2 years ago

Makinde approves nomination of Balogun as next Olubadan

3 years ago
Oyo Assembly Speaker’s Mother, Tina Ogundoyin Dies At 63

Oyo Assembly Speaker’s Mother, Tina Ogundoyin Dies At 63

2 years ago
Kogi ADC Guber Candidate, Abejide Congratulates Bello On Achievements In Office

Kogi ADC Guber Candidate, Abejide Congratulates Bello On Achievements In Office

1 year 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 refinery rescue road Security Senate students Tinubu
No Result
View All Result

Highlights

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

21 Die, 10 Missing In Niger Flood Disaster

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

Midterm Performance : Taraba State Rated Least In IGR, Good Governance

School Wall Collapses On Students Writing WAEC In Taraba

Trending

Death Toll From Niger Flood Disaster Rises To 115,  Many Still Missing – NSEMA
Environment

Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA

by Vital News
May 30, 2025
0

The Niger State Emergency Management Agency (NSEMA) says death toll from the flood disaster that recently ravaged...

INEC Fixes July 20 And  August 8, 2026 For Ekiti, Osun Governorship Elections

INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections

May 30, 2025
Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

May 30, 2025
NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

May 30, 2025
21 Die, 10 Missing In Niger Flood Disaster

21 Die, 10 Missing In Niger Flood Disaster

May 29, 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

  • Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA May 30, 2025
  • INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections May 30, 2025
  • Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance May 30, 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