• About
  • Advertise
  • Contact
Wednesday, October 29, 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 N1.727 Trillion November Revenue Among FG, States, LGs

...from a gross total of N3.143trillion

Vital News by Vital News
December 13, 2024
in Economy, National, News
0
FAAC Shares N1.411trillion October Revenue Among FG, States, LGs
Share on FacebookShare on Twitter

The Federation Account Allocation Committee (FAAC), has shared N1.727 Trillion to the three tiers of government as Federation Allocation for the month of November.

The amount shared on Friday in Abuja was from the November 2024 gross total revenue of N3.143 Trillion.

Mohammed Manga, Director, Information and Public Relations, Ministry of Finance disclosed this in a communique issued at the end of the December 2024 meeting of FAAC where the amount was disbursed.

The meeting was chaired by the Honourable Minister of Finance and the Coordinating Minister of the Economy, Wale Edun.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference (ED), the Federal Government received N581.856 Billion, the States received N549.792 Billion, the Local Government Councils got N402.553 Billion, while the Oil Producing States received N193.291 Billion as Derivation, (13% of Mineral Revenue).

RelatedStories

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

The sum of N103.307 Billion was given for the cost of collection, while N1.312 Trillion was allocated for Transfers Intervention and Refunds.

The details was contained in a communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting.

Mohammed Manga, Director, Information and Public Relations
Dec

According to the communique, the Gross Revenue available from the Value Added Tax (VAT) for the month of November 2024, was N628.972 Billion as against N668.291 Billion distributed in the preceding month, resulting in a decreased of N39.318 Billion.

“From that amount, the sum of N25.159 Billion was allocated for the cost of collection and the sum of N18.114 Billion given for Transfers, Intervention and Refunds.

“The remaining sum of N628.973 Billion was distributed to the three tiers of government, of which the Federal Government got N87.855 Billion, the States received N292.850 Billion and Local Government Councils got N204.995 Billion.

“Accordingly, the Gross Statutory Revenue of N1.827 Trillion received for the month was higher than the sum of N1.336 Trillion received in the previous month by N490.339 Billion.

“From the stated amount, the sum of N77.521 Billion was allocated for the cost of collection and a total sum of N1.294 Trillion for Transfers, Intervention and Refunds.

“The remaining balance of N455.354 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N175.690 Billion, States received N89.113 Billion, the sum of N68.702 Billion was allocated to LGCs and N121.849 Billion was given to Derivation Revenue (13% Mineral producing States).

“Also, the sum of N15.046 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.257 Billion, States got N7.523 Billion, Local Government Councils received N5.266 Billion, while N0. 0627 Billion was allocated for Cost of Collection,” it said.

The Communique also disclosed the sum of N671.392 Billion from Exchange Difference, which was shared as follows: Federal Government received N316.054 Billion, States got N160.306 Billion, the sum of N123.590 Billion was allocated to Local Government Councils, N71.442 Billion was given for Derivation (13% of Mineral Revenue).

“Oil and Gas Royalty and CET levies recorded significant increases, while Excise Duty, Value Added Tax (VAT), Import Duty, Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), Electronic Money Transfer Levy ( EMTL), decreased considerably.

“The total revenue distributable for the current month of November 2024, was drawn from Statutory Revenue of N455.354 Billion, Value Added Tax (VAT) of N585.700 Billion, N15.046 Billion from Electronic Money Transfer Levy (EMTL), and N671.392 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.727 Trillion,” the communique explained.
(vitalnewsngr.com)

Tags: FAACFGLGsrevenueshareStates
Previous Post

President Tinubu Appoints Nwakuche Ndidi Acting Controller-General Of NCoS

Next Post

Notorious Kogi Kidnapper, “Dandolo” Arrested By Police In Kwara

Vital News

Vital News

RelatedStories

Opinion

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE

October 28, 2025
AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 
Opinion

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

October 28, 2025
Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire
Business

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

October 28, 2025
FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn
Economy

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Aliko Dangote Foundation Flags Off  National Initiative To Promote Fermented Foods For Nutrition And Food Security
Agriculture/ Water/ Mineral

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

October 27, 2025
Next Post
Notorious Kogi Kidnapper, “Dandolo” Arrested By Police In Kwara

Notorious Kogi Kidnapper, "Dandolo" Arrested By Police In Kwara

Gov. Alia Promises To Make Benue Safe For Residents, Inaugurates Civil Protection Guards

Gov. Alia Promises To Make Benue Safe For Residents, Inaugurates Civil Protection Guards

GEORGIA (ГРУЗИЯ) IN TURMOIL : An Analysis by Lawal Sale

GEORGIA (ГРУЗИЯ) IN TURMOIL : An Analysis by Lawal Sale

Leave a Reply Cancel reply

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

Follow Us

Recommended

Collectively demand for Stamp duty revenues, consultant tells 36 states

4 years ago
NDLEA Bursts UK-bound Meth Worth N567mln, Arrest Baron, Seals Mansion In Lekki

NDLEA Bursts UK-bound Meth Worth N567mln, Arrest Baron, Seals Mansion In Lekki

2 years ago
Sanwo-olu Gives Update On Train/Bus Accident , Says Preliminary Report Indicates Driver’s Error

Sanwo-olu Approves 20pct Pay Rise For Lagos Civil Servants

3 years ago
NDLEA Recovers Cocaine Worth N4.4bln From Ethiopia Airline Aircraft, Grills 30 Suspects Over Seizure

NDLEA Recovers Cocaine Worth N4.4bln From Ethiopia Airline Aircraft, Grills 30 Suspects Over Seizure

12 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
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

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

Highlights

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

President Tinubu Hails Oloye Lekan Alabi At 75

ARMTI, Abia State Partner To Create Wealth For Farmers, Opens Regional Office In South-East

More Than 65% Of Diseases Suffered By Nigerians Are Livestock Related – NVMA President

Dangote Refinery Announces Plan To Increase Capacity From 650,000bpd To 1.4million bpd

Trending

Opinion

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE

by Vital News
October 28, 2025
0

CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE Who makes these changes? “I...

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale 

October 28, 2025
Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS

October 28, 2025
FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

FIRS Surpasses 2025 Revenue Target In 9 Months, Nets N22.59trn

October 27, 2025
Aliko Dangote Foundation Flags Off  National Initiative To Promote Fermented Foods For Nutrition And Food Security

Aliko Dangote Foundation Flags Off National Initiative To Promote Fermented Foods For Nutrition And Food Security

October 27, 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

  • CONTRACTORS, GOVERNMENT AGENTS AND THE STABILITY OF NIGERIA BY DR AUSTIN ORETTE October 28, 2025
  • AN INSIGHT INTO CHINA’S FIVE-YEAR PLAN FOR SUSTAINABLE DEVELOPMENT By Lawal Sale  October 28, 2025
  • Dangote Cement Records ₦743.3 billion Profit After Tax In Nine Months, Achieves 165% Growth In EPS October 28, 2025

Categories

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