• About
  • Advertise
  • Contact
Saturday, August 2, 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 Labour

FAAC shares N680.783bn revenue to FG, states, LGs

Vital News by Vital News
June 24, 2022
in Labour, National
0
Share on FacebookShare on Twitter

Abuja – The Federation Account Allocation Committee (FAAC) has shared N680.783 billion May, 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This is contained in a communiqué issued on Friday at the end of the Federation Account Allocation Committee (FAAC) for June 2022, held in Abuja.

The N680.783 billion total distributable revenue comprised statutory revenue of N385.004 billion, Value Added Tax (VAT) revenue of N198.512 billion and Electronic Money Transfer Levy (EMTL) revenue of N97.267 billion.

In May 2022, the total deductions for the cost of the collection were N36.996 billion and total deductions for transfers and refunds were N186.672 billion.

The balance in the Excess Crude Account (ECA) was $35.377 million.

RelatedStories

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

US Embassy Circulates Report On How Gov. Makinde, Gombe Gov Lavish Billions On Buildings Amid Ravaging Poverty

Bandit Attacks : Mrs Tinubu Pays Condolence Visit To Benue, Donates N1bln To Victims

The communiqué stated that from the total distributable revenue of N680.783 billion, the Federal Government received N229.563 billion, the State Governments received N241.824 billion and the Local Government Councils got N175.942 billion. The sum of N33.454 billion was shared with the relevant States as 13 per cent derivation revenue.

Gross statutory revenue of N589.952 billion was received for the month of May 2022. This was lower than the N635.037 billion received in the previous month by N45.085 billion.

From the N385.004 billion distributable statutory revenue, the Federal Government received N185.197 billion, the State Governments got N93.934 billion and the Local Government Councils received N72.419 billion. The sum of N33.454 billion was shared with the relevant States as 13 per cent derivation revenue.

In the month of May 2022, the gross revenue available from the Value Added Tax (VAT) was N213.179 billion. This was higher than the N178.825 billion available in the month of April 2022 by N34.354 billion.

From the N198.512 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N29.777 billion, the State Governments got N99.256 billion and the Local Government Councils received N69.479 billion.

The Federal Government received N14.590 billion; the State Governments got N48.634 billion and the Local Government Councils received N34.043 billion from the N97.267 billion Electronic Money Transfer Levy (EMTL).

According to the Communiqué, in the month of May 2022, Companies Income Tax (CIT) and Value Added Tax (VAT) recorded considerable increases, Import Duty increased marginally while Petroleum Profit Tax (PPT) and Excise Duties decreased marginally. Oil and Gas Royalties decreased significantly.

Tags: FAACMayNDLEArevenueshare
Previous Post

FG sets up committee to review salary of civil servants

Next Post

43,008 Hajj slots allocated to Nigeria exhausted – NAHCON

Vital News

Vital News

RelatedStories

Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway
Environment

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap
Environment

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 2025
Your Exit Will Not In Anyway Affects Fortune Of PDP – Makinde To Atiku
National

US Embassy Circulates Report On How Gov. Makinde, Gombe Gov Lavish Billions On Buildings Amid Ravaging Poverty

July 30, 2025
Bandit Attacks : Mrs Tinubu Pays Condolence Visit To Benue, Donates N1bln To Victims
National

Bandit Attacks : Mrs Tinubu Pays Condolence Visit To Benue, Donates N1bln To Victims

July 29, 2025
NIDCOM Condemns Brutal Killing Of Two Nigerians In South Africa
Crime

NIDCOM Condemns Brutal Killing Of Two Nigerians In South Africa

July 24, 2025
Next Post

43,008 Hajj slots allocated to Nigeria exhausted - NAHCON

Court martial recommends 34 soldiers for dismissal, imprisonment

Federal Civil Service overbloated with over 76,000 workers - HoS

Leave a Reply Cancel reply

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

Follow Us

Recommended

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

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

2 months ago

Cleric Urges Nigerians To Embrace Peace

3 years ago
Gunmen Attack Mosque In Delta, Abduct 3, Injure 11 Worshippers

Terrorism : 40 Terrorists , 10 Soldiers Killed In Zamfara

3 years ago
Education Minister Flags off  Schools Sewing Championship 2023 Project For Secondary Schools

Education Minister Flags off Schools Sewing Championship 2023 Project For Secondary Schools

3 years 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 cement Court Dangote death dies drugs Economy EFCC Election elections 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
No Result
View All Result

Highlights

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

Canada Announces Plan To Recognise Palestinian State By September

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Abdulrahim Thanks Governor Ododo Over Appointment as Governing Council Chairman Of Kogi College Of Nursing

Trending

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute
Education

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

by Vital News
August 1, 2025
0

A delegation from the National Universities Commission (NUC) has paid a revalidation visit to the Distance Learning...

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 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

  • NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute August 1, 2025
  • FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals July 31, 2025
  • Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway July 31, 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