The Federation Accounts Allocation Committee on Wednesday at its virtual meeting shared to the three tiers of government a total sum of N 547. 309bn as federation allocation for the month of May 2020.
FAAC’ s virtual meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mahmoud Isa – Dutse, according to a statement issued by the ministry in Abuja on Wednesday night.
The ministry stated that from this amount, inclusive of Value Added Tax, exchange gain and excess bank charges recovered, the Federal Government received N 219. 799bn; states, N152 .436 bn; Local Government councils N114 .095bn: while the oil – producing states received N 37.021 bn as derivation (13 per cent of mineral revenue).
“However, the cost of collection/ Federal Inland Revenue Refund /Allocation to North East Development Commission was N 23.958 bn,” the statement added.
It said a communique issued by the Federation Account Allocation Committee at the end of the meeting indicated that the gross revenue available from the VAT for May 2020 was N 103. 873bn, against N 94.498 bn distributed in the preceding month of April 2020, resulting in an increase of N9 .377bn.
It said the distribution was as follows, Federal Government got N 14.49 bn; states, N 48.301 bn; Local Government councils, N 33.811 bn; while derivation got N 0. 000; and cost of collection/ FIRS refund/allocation to NEDC was N 7. 271bn.
The statement added that the distributed statutory revenue of N 413. 953bn received for the month was higher than the N 370. 411bn received for the previous month by N 43. 542bn.
From this, the Federal government received N 191.58 bn; states, N 97.172 bn; Local Governments, N 74. 915bn; derivation got N 33.599 bn; and cost of collection was N16 .687 bn.
The finance ministry said in the statement that “the communique also revealed that Petroleum Profit Tax, Import Duty and Value Added Tax recorded increases, while Companies Income Tax, Oil Royalty and Excise Duty recorded decreases.”
It stated that the total revenue distributable for the current month including cost of collection to Nigeria Customs Service, Department of Petroleum Resources and FIRS, according to the committee was N 547. 309bn.
Greetings from Idaho! I’m bored at work so I decided to browse your website on my iphone during lunch break.
I enjoy the knowledge you present here and can’t wait to take a look when I get home.
I’m shocked at how fast your blog loaded on my phone ..
I’m not even using WIFI, just 3G .. Anyways, very good blog!
When I originally commented I seem to have clicked the
-Notify me when new comments are added- checkbox and from now on whenever a comment is added I recieve 4
emails with the same comment. Perhaps there is a means you can remove me
from that service? Thanks!
Whats up are using WordPress for your blog platform?
I’m new to the blog world but I’m trying to get
started and set up my own. Do you require any html coding knowledge
to make your own blog? Any help would be really appreciated!
Valuable info. Fortunate me I found your web site by accident, and I am surprised why this twist of fate didn’t happened in advance!
I bookmarked it.
Have you ever thought about creating an ebook or guest authoring on other blogs?
I have a blog centered on the same subjects you discuss and would really like to have you share some stories/information. I know my visitors would
appreciate your work. If you’re even remotely interested,
feel free to shoot me an email.
I love what you guys tend to be up too. This kind of clever work and coverage!
Keep up the superb works guys I’ve included you guys to our blogroll.
Hi, I do believe this is an excellent blog.
I stumbledupon it 😉 I will return yet again since I saved as a favorite it.
Money and freedom is the best way to change, may you be rich and continue to help other people.
I’m truly enjoying the design and layout of your site.
It’s a very easy on the eyes which makes it much more enjoyable for me
to come here and visit more often. Did you hire out a developer to create your theme?
Outstanding work!
For hottest information you have to pay a visit the web
and on web I found this web page as a finest site for newest updates.
hey there and thank you for your information – I have certainly picked
up something new from right here. I did however
expertise several technical issues using this site, as I experienced to reload the
website lots of times previous to I could get it to load correctly.
I had been wondering if your web host is OK? Not that I am complaining, but sluggish loading instances
times will sometimes affect your placement in google
and could damage your quality score if ads and marketing with Adwords.
Anyway I am adding this RSS to my email and can look out for much more of your respective exciting
content. Make sure you update this again very soon.
I love looking through a post that will make people think.
Also, thanks for allowing for me to comment!
At this time I am going to do my breakfast, after having my breakfast coming again to
read more news.
Hello colleagues, good piece of writing and pleasant urging commented at this place, I am actually enjoying by these.
Hello there! This blog post could not be written much better!
Looking through this article reminds me of my previous roommate!
He constantly kept preaching about this. I most certainly will forward this information to him.
Pretty sure he will have a good read. I appreciate you for sharing!
Hmm it seems like your blog ate my first comment (it was extremely long) so I guess I’ll just sum it up what I wrote
and say, I’m thoroughly enjoying your blog.
I too am an aspiring blog writer but I’m still new to the whole thing.
Do you have any suggestions for novice blog writers? I’d definitely appreciate it.
Wow, incredible blog structure! How long have you ever been blogging for?
you make blogging glance easy. The entire look of your website is
wonderful, as well as the content!
What’s up everybody, here every person is sharing these experience, thus it’s good to read this blog, and I
used to pay a quick visit this weblog every day.
Thank you for the good writeup. It in fact was a amusement account it.
Look advanced to more added agreeable from you! However, how can we communicate?
Hello There. I found your blog using msn. This is an extremely
well written article. I’ll make sure to bookmark it and come back to read more of your
useful information. Thanks for the post. I will certainly
comeback.
Hello There. I found your weblog the usage of msn. This is
a really neatly written article. I’ll be sure to
bookmark it and return to learn more of your useful information.
Thanks for the post. I will definitely return.
With havin so much content and articles do you ever run into any problems
of plagorism or copyright violation? My website has a
lot of completely unique content I’ve either written myself or outsourced but it appears a lot of it is popping it
up all over the web without my permission. Do you
know any methods to help prevent content from being stolen? I’d definitely appreciate it.
It’s the best time to make some plans for the future and it is time to
be happy. I have read this post and if I could I want to suggest you few interesting things
or tips. Perhaps you could write next articles referring to this article.
I desire to read even more things about it!
I’m extremely impressed with your writing skills
as well as with the layout on your blog. Is this a paid theme or
did you customize it yourself? Either way keep up the nice quality writing, it is rare to
see a great blog like this one today.
Howdy just wanted to give you a quick heads up. The words
in your article seem to be running off the screen in Internet explorer.
I’m not sure if this is a formatting issue or something to do with
browser compatibility but I figured I’d post
to let you know. The design look great though! Hope you get the problem solved soon. Cheers
I enjoy what you guys tend to be up too. This kind of clever work and coverage!
Keep up the excellent works guys I’ve added you guys to my personal blogroll.
I am sure this paragraph has touched all the internet visitors, its really really nice post on building up
new weblog.
Just want to say your article is as surprising.
The clearness to your publish is just nice and that i can suppose
you are knowledgeable in this subject. Well with your permission allow me to grab your feed to keep up to date with coming near
near post. Thank you one million and please carry on the rewarding work.