edited
https://guardian.ng/news/oil-producing-states-get-n49b-as-lgs-share-n155b-for-december-allocation/?utm_term=Autofeed&utm_medium=Social&Echobox=1643036758&utm_source=Facebook


Oil-producing states got N49.003b as 13 per cent derivation from the sharing of monthly federal allocation for December, while the Federal Government received N279.457b, states got N210.046b and the 774 local councils were allocated N155.456b.

At the Federation Accounts Allocation Committee (FAAC) meeting chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Aliyu Ahmed, the federating units shared N699.824b as allocation for December, 2021.

From this amount, inclusive cost of collection to Nigeria Customs Service (NCS), Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS), the FG received N279.457b; the states received N210.046b; local councils got N155.456b, while the oil producing states received N49.003b as derivation.

The communiqué by the FAAC at the end of the meeting, indicated that the gross revenue available from the Value Added Tax (VAT) for December, 2021 was N201.255b as against N196.175b distributed in the preceding month of November, 2021, with an increase of N5.080b. The distribution was as follows: FG got N28.111b; states received N93.705b and local councils got N65. 593b.

The gross statutory revenue of N560.066b received for the month was lower than the N643.481b received in the previous month by N83.415b, from which the FG received N248.885b, states got N126.238b, local councils got N97.324b and 13 per cent derivation was N34.820b.

The communiqué also revealed that Companies Income Tax (CIT) and Value Added Tax (VAT) increased reasonably, while Petroleum Profit Tax (PPT) and Oil and Gas Royalties decreased significantly just as Import and Excise Duties decreased marginally.

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mugu,paid ur workers what they are owing u

El-Rufai did worst in KASU and GIDAN WAYA. Kaf.

Wike for President

Samuel Ortom for Vice President

They've some balls

To lead this country, you must be consistently consistent and bold in decision making

Defecting to a collapsing party is political suicide

Bucky001:
Wike for President

Samuel Ortom for Vice President

They've some balls

To lead this country, you must be consistently consistent and bold in decision making

Wike?Yes

Samuel ortom?No

N

Rip to their 24 month salary arrears

U

M

All this sharing of allocation to the federarting units by the centre is so annoying and the major reason why Nigeria can NEVER compete with innovative, progressive and forward-thinking countries like Singapore, South-Korea, UAE, Rwanda and Israel! All these countries have been evolving and reinventing themselves, while Nigeria is still stuck in the 70s!

IGBOSON1:
All this sharing of allocation to the federarting units by the centre is so annoying and the major reason why Nigeria can NEVER compete with innovative, progressive and forward-thinking countries like Singapore, South-Korea, UAE, Rwanda and Israel! All these countries have been evolving and reinventing themselves, while Nigeria is still stuck in the 70s!

Most of the countries you mentioned practice unitary system. Federal system is even better of.

Biodun556:


Most of the countries you mentioned practice unitary system. Federal system is even better of.

That may be true...esp' of Singapore, but the main thrust of my post was trying highlight how we've been stuck in a rut.....been operating the same centralised political-economy since the 70s! Ordinarily, a country that claims to be a federation has no business operating a feeding-bottle economy where the federating units go cap-in-hand every month to the centre for allocation! Basically, in the Nigerian 'federated' union, the tail is wagging the dog!

IGBOSON1:


That may be true...esp' of Singapore, but the main thrust of my post was trying highlight how we've been stuck in a rut.....been operating the same centralised political-economy since the 70s! Ordinarily, a country that claims to be a federation has no business operating a feeding-bottle economy where the federating units go cap-in-hand every month to the centre for allocation! Basically, in the Nigerian 'federated' union, the tail is wagging the dog!

Any mineral resources under the soil belongs to the central, a common practice all over the World.

Imo state is now one of the major oil producing states in Nigeria. They should give us statistics on how much each oil producing state received as derivation. Nigeria should stop hiding from their own statistics

JavaScript90:
Imo state is now one of the major oil producing states in Nigeria. They should give us statistics on how much each oil producing state received as derivation. Nigeria should stop hiding from their own statistics

Major wetin?. How many litres of oil imo is producing per day?. You're a clown.

-Viper

[s]

JavaScript90:
Imo state is now one of the major oil producing states in Nigeria. They should give us statistics on how much each oil producing state received as derivation. Nigeria should stop hiding from their own statistics

[/s] you go just open your mouth waaaah.
you no go keep quiet