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FAAC Shares ₦786 Billion To FG, States, LGs - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / FAAC Shares ₦786 Billion To FG, States, LGs (19466 Views)

FAAC Shares N1.1trn August Revenue Among Federal, State, Local Govts / FAAC Shares N676.40bn July Allocation To FG, States, Lgs / FAAC Shares ₦780.926bn For March 2020 (2) (3) (4)

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FAAC Shares ₦786 Billion To FG, States, LGs by nlfpmod: 7:46pm On Jun 22, 2023
The Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion to the federal, state a d Local Governments.

It represented their share from the May 2023 Federation Account Revenue, according to the communiqué issued at the end of the FAAC meeting in Abuja, yesterday.

The meeting was chaired by the new Accountant-General of the Federation, Dr. Oluwatoyin Madein, according to the Director, Press and Public Relations, Mr. Bawa Mokwa.

The N786.161 billion total distributable revenue comprised distributable statutory revenue of N519.545 billion, distributable Value Added Tax (VAT) revenue of N251.607 billion, Electronic Money Transfer Levy (EMTL) of N14.370 billion, and Exchange Difference revenue of N0.639 billion.

A total of N38.238 billion was deducted as cost of collection, usually paid to the revenue generating agencies, while statutory transfers took another N163.193 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57

The communiqué indicated that from the total distributable revenue of N786.161 billion; the Federal Government received N301.889 billion, the State Governments received N265.875 billion and the Local Government Councils received N195.541 billion.

A total of N22.855 billion was shared to the oil producing tates as 13% derivation revenue.

Gross statutory revenue of N701.787 billion was received for the month of May 2023. This was higher than the sum of N497.463 billion received in the previous month by N204.324 billion.

From the N519.545 billion distributable statutory revenue, the Federal Government received N261.686 billion, the State Governments received N132.731 billion and the Local Government Councils received N102.330 billion. The sum of N22.798 billion was shared to the relevant States as 13% derivation revenue.

This was higher than the N217.743 billion available in the month of April 2023 by N52.454 billion.

The Federal Government received N37.741 billion, the State Governments received N125.804 billion and the Local Government Councils received N88.062 billion from the N251.607 billion distributable Value Added Tax (VAT) revenue.

The N14.370 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.155 billion, the State Governments received N7.185 billion and the Local Government Councils received N5.030 billion.

From the N0.639 billion Exchange Difference revenue, the Federal Government received N0.307 billion, the State Governments received N0.156 billion, the Local Government Councils received N0.119 billion and the sum of N0.057 billion was shared to the relevant States as 13 percent mineral revenue.

https://www.google.com/amp/s/www.vanguardngr.com/2023/06/faac-shares-n786-b-to-fg-states-lgs/amp/

15 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by slawomir: 7:49pm On Jun 22, 2023
Damnnn niggar

Always sharing

Allow state to control their resources and give you small percentage of it


I understand the insult
Have been giving tinubu's supporter here on nairaland headache
It is about to get worse for them...it is no longer business as usual for them
Always defending thier oppressors because of petty sentiments

60 Likes 10 Shares

Re: FAAC Shares ₦786 Billion To FG, States, LGs by gerrardomendes(m): 7:50pm On Jun 22, 2023
Ok
Re: FAAC Shares ₦786 Billion To FG, States, LGs by chuksanambra: 7:51pm On Jun 22, 2023
slawomir:
Damnnn niggar

Always sharing

Allow state to control their resources and give you small percentage of it

Just as you're always stealing.

Dirty Benin yahoo thief

57 Likes 5 Shares

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Ofunaofu: 7:51pm On Jun 22, 2023
angry
Re: FAAC Shares ₦786 Billion To FG, States, LGs by Angelfrost(m): 7:51pm On Jun 22, 2023
It is not that hard to calculate or guess how much of those allocations will be diverted to personal accounts...!

Account statements of such fund disbursements ought to be published monthly for the reading pleasure of citizens across states!


Until there is proper accountability and transparency with regard to public funds, there can be no real or true development and growth of the nation!

8 Likes 1 Share

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Jcomtrader: 7:51pm On Jun 22, 2023
Money dey naija sha
Re: FAAC Shares ₦786 Billion To FG, States, LGs by bluefilm: 7:51pm On Jun 22, 2023
Hope say there will be no delay in my salary this month?

4 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Eagle360(m): 7:51pm On Jun 22, 2023
1. 7.5% VAT on diesel
2. Fuel subsidy removed
3. Electricity tariff hiked
4. University tuition increased to 100k and 400K+
5. Naira devalued $1= N815
6. Same old politicians lined up to continue the looting

7. FG Votes ₦24 Billion For 10th NASS Members’ Accommodation
Renewed Looting continues.

3 Likes 4 Shares

Re: FAAC Shares ₦786 Billion To FG, States, LGs by charisma1986: 7:51pm On Jun 22, 2023
Some state governors will still not pay workers. They would like to pocket all these monies.

5 Likes 1 Share

Re: FAAC Shares ₦786 Billion To FG, States, LGs by GeneralPula: 7:51pm On Jun 22, 2023
Time for state Governors to pay salaries..

2 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by GeneralPula: 7:52pm On Jun 22, 2023
bluefilm:
Hope say there will be no delay in my salary this month?
Make una hold una state Governor for neck..

1 Like

Re: FAAC Shares ₦786 Billion To FG, States, LGs by GeneralPula: 7:53pm On Jun 22, 2023
charisma1986:
Some state governors will still not pay workers. They would like to pocket all these monies.
Their people are coming to blame Fg next month..

7 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by INTEGRITYA1(m): 7:54pm On Jun 22, 2023
Make dem channel the money appropriately.
Re: FAAC Shares ₦786 Billion To FG, States, LGs by Frankest20(m): 7:54pm On Jun 22, 2023
Greater improvements...... We have Never had it high in recent times.

Thank you PBAT for coming at the right time.

2 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Dreal1247: 7:54pm On Jun 22, 2023
Adeosun as the then Finance Minister was sacked because she demanded for the detailed monthly report of the then NNPC before she can accept the remittance from the corporation. After then, it was discovered that she was not having the NYSC certificate. The rest was history. And guess what? Not too long, the NNPC couldn't remit anything reasonable to the country. The thieves were stealing the crude oil in bulk and nobody cares. The government kept borrowing to fund the budget. Nigeria needs something better.

14 Likes 1 Share

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Sirchiboy: 7:55pm On Jun 22, 2023
Chai.
See money.
I come dey fine 5m to travel to Germany

3 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by bluefilm: 7:55pm On Jun 22, 2023
GeneralPula:

Make una hold una state Governor for neck..

I be federal worker o.

1 Like

Re: FAAC Shares ₦786 Billion To FG, States, LGs by yeman05(m): 7:56pm On Jun 22, 2023
Commendable though 👏🏽👏🏽. If only they can give further breakdown of how much each state gets.. So we’ll know how much my state received. We’ll know rzn for salary delay this time around

4 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Juanmike(m): 7:57pm On Jun 22, 2023
bluefilm:
Hope say there will be no delay in my salary this month?
You mean the BMC 30k monthly allocation?

2 Likes 1 Share

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Ecanenar(m): 7:58pm On Jun 22, 2023
Can we get a breakdown of what each state got?

5 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by nazicartel(m): 7:58pm On Jun 22, 2023
Abia should pay shaa

4 Likes 1 Share

Re: FAAC Shares ₦786 Billion To FG, States, LGs by LadyExcellency: 7:59pm On Jun 22, 2023
Nigeria is getting poorer by the day.

10 years ago, we share more than one trillion under Jonathan with oil benchmark @N97 but ten years later see what we got.

7 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by omoredia: 8:00pm On Jun 22, 2023
Always sharing. Thats all they do. Zero productivity zero accountability but always sharing. Thats why Peter Obi has become an unending terror to them

2 Likes

Re: FAAC Shares ₦786 Billion To FG, States, LGs by Aremu01(m): 8:00pm On Jun 22, 2023
Speechless sha
Let's see what they will use this one for again
Re: FAAC Shares ₦786 Billion To FG, States, LGs by karkinase(m): 8:02pm On Jun 22, 2023
slawomir:
Damnnn niggar

Always sharing

Allow state to control their resources and give you small percentage of it


I understand the insult
Have been giving tinubu's supporter here on nairaland headache
It is about to get worse for them...it is no longer business as usual for them
Always defending thier oppressors because of petty sentiments
.

1 Like

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