• About
  • Advertise
  • Contact
Saturday, August 23, 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

FG, States, LGs Share N714billion March Revenue

Vital News by Vital News
April 20, 2023
in Economy, National
0
Share on FacebookShare on Twitter

 

The Federation Account Allocation Committee (FAAC) has shared N714.629 billion as revenue from March to the three tiers of government: Federal, States and Local governments.

This is contained in a communique issued st the end of the committee’s meeting held in Abuja on Wednesday.

The N714.629 billion total distributable revenue comprised distributable statutory revenue of N497.448 billion, N202.693 billion from Value Added Tax and N14.488 billion from electronic money transfer levy.

According to the communique, N31.355 billion went to revenue generating agencies (except NNPCL) into the federation account as cost of revenue collection.

RelatedStories

Japan Designates Kisarazu City As Hometown For Nigerians

FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

“Total deductions for transfers, refunds and consultancy fees was N126.567 billion.

“The balance in the Excess Crude Account (ECA) was $473,754.57,” it stated.

The communiqué further shows that from the total distributable revenue of N714.629 billion, Federal Government received N276.141 billion, State Governments received N232.129 billion and the Local Government Councils received N171.257 billion.

A total sum of N35.102 billion was shared to the relevant States as 13% derivation revenue.

“Gross statutory revenue of N638.673 billion was received for the month of March 2023.

“This was higher than the sum of N487.106 billion received in the previous month by N151.567 billion.

“From the N497.448 billion distributable statutory revenue, the Federal Government received N243.564 billion, the State Governments received N123.539 billion and the Local Government Councils received N95.243 billion.

“The sum of N35.102 billion was shared to the relevant States as 13% derivation revenue.

“For the month of March 2023,, the gross revenue available from the VAT was N218.786 billion This was lower than the N240.799 billion available in the month of February 2023 by N22.013 billion.

“The Federal Government received N30.404 billion, the State Governments received N101.347 billion and the Local Government Councils received N70.943 billion from the N202.693 billion distributable VAT revenue.

“The N14.488 billion electronic transfers was shared as follows: the Federal Government received N2.173 billion, the State Governments received N7.244 billion and the Local Government Councils received N5.071 billion,” the communique said.

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

 

Tags: MarchrevenueshareStates
Previous Post

Indiscipline : Police Dismiss CPL Opeyemi Kadiri

Next Post

Tinubu Announces 13 – member Presidential Inauguration Committee

Vital News

Vital News

RelatedStories

Japan Designates Kisarazu City As Hometown For Nigerians
Foreign

Japan Designates Kisarazu City As Hometown For Nigerians

August 22, 2025
FAAC Disburses N1.678trn February Revenue To FG, States, LGs
Economy

FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs

August 22, 2025
President Tinubu Jets Out On State Visit To Saint Lucia, Brazil
National

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

August 21, 2025
FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation
Education

FG Empowers Colleges Of Education To Offer NCE, Degree Programmes Without University Affiliation

August 20, 2025
Tinubu Appoints Rotimi Pedro, Founder Of OSMI As New DG Of NTA
National

Presidency Confirms Appointment Of Rotimi Pedro As New DG Of NTA, Three Executive Directors

August 20, 2025
Next Post
“THE ERA OF RENEWED HOPE“ – Tinubu’s Acceptance Speech

Tinubu Announces 13 - member Presidential Inauguration Committee

Zelenskyy Congratulates Tinubu, Invites Him To Ukraine For State Visit

Zelenskyy Congratulates Tinubu, Invites Him To Ukraine For State Visit

Seplat Energy Trains Additional 271 Science, Arts Teachers In Edo, Delta

Leave a Reply Cancel reply

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

Follow Us

Recommended

Lagdo Dam Water Release, Taraba Issues Flood Alert To 6 LGAs

Lagdo Dam Water Release, Taraba Issues Flood Alert To 6 LGAs

2 years ago
To Address Challenge Of Poor Leadership, NSCIA Wants The Bar Raised Beyond Basic Qualifications

To Address Challenge Of Poor Leadership, NSCIA Wants The Bar Raised Beyond Basic Qualifications

3 years ago
President Tinubu Jets Out On State Visit To Saint Lucia, Brazil

President Tinubu Jets Out On State Visit To Saint Lucia, Brazil

2 months ago

Buhari appoints 19 new RECs for INEC

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

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

Abia Secures $750mln World Bank Support For Renewable Energy

Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin

Trending

Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency
News

Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency

by Vital News
August 22, 2025
0

The management of Dangote Cement Plc (DCP) has restated its commitment to training and constant retraining of...

Japan Designates Kisarazu City As Hometown For Nigerians

Japan Designates Kisarazu City As Hometown For Nigerians

August 22, 2025
FAAC Disburses N1.678trn February Revenue To FG, States, LGs

FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs

August 22, 2025
Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba,  N1.07bln Salary Arrears

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

August 22, 2025
First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

August 22, 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

  • Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency August 22, 2025
  • Japan Designates Kisarazu City As Hometown For Nigerians August 22, 2025
  • FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs August 22, 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