• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, September 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

FAAC shares N1.9trn in first quarter

The Matters Press by The Matters Press
April 23, 2019
Reading Time: 3 mins read
0
Luxury items, drinks to attract more VAT

Finance

Finance

The Federation Account Allocation Committee (FAAC) has disbursed N1.92 trillion to Nigeria’s three tiers of government in first quarter of 2019.

RELATED POSTS

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

The National Bureau of Statistics (NBS) said this in FACC monthly allocation for January, February and March, 2019 Disbursement statistics published on its website.

The bureau said FAAC disbursed N649.19 billion to the three tiers of government in January, 2019; N660.37 billion in February while the sum of 619.86 was distributed to the three tiers in March.

Out of the N1.92 trillion, the Federal Government got N803.18 billion in the quarter, states received N530.14 billion while the local governments received N398.43 billion.

The breakdown showed that the federal government received N270.17 billion in January, N275.33 billion in February and N257.68 billion in March.

States received N178.04 billion in January, N182.17 billion and N169.93 in March while the local governments received N133.83 billion in January, N136.88 billion and N127.72 billion in March.

In addition, the report said the amount disbursed in January comprised N547.46 billion from the Statutory Account, N100.76 billion from Valued Added Tax (VAT) and N976.53 million exchange gain differences.

The sum of N45.36 billion was shared among the oil producing states as 13 per cent derivation fund in the month.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.69 billion, N4.04 billion and N8.04 billion respectively as cost of revenue collections.
Further breakdown of revenue allocation distribution to the federal government revealed that the sum of N216.57 billion was disbursed to the federal government’s consolidated revenue account.

In addition, N4.81billion was disbursed as share of derivation and ecology and N2.43 billion as stabilisation fund.

Also, N8.15 billion was shared for the development of natural resources and N5.82 billion to the Federal Capital Territory (FCT), Abuja.

For February, the report said the amount disbursed comprised N497.12 billion from the Statutory Account; N104.47 billion from Valued Added Tax (VAT) and N8.12 billion as excess charges recovered.

According the report, the sum of N50 billion was distributed as FOREX Equalisation Fund and N654.70 million as exchange gain differences.

The sum of N48.49 billion was shared among the oil producing states as 13 per cent derivation fund in February.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N5.66 billion, N7.62 billion and N4.07 billion as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria revealed that the sum of N221.33 billion was disbursed to the Federal Government consolidated revenue account.

In addition, N4.94 billion was disbursed as share of derivation and ecology and N2.47 billion as stabilisation fund.

Also, N8.30 billion was shared for the development of natural resources and N5.90 billion to the Federal Capital Territory (FCT) Abuja.

In March, the report said the amount disbursed comprised of N474.42 billion from the Statutory Account, N96.39 billion from Valued Added Tax (VAT), N4.02 billion as excess bank charges recovered.

According to the report, N44.17 billon was distributed as FOREX Equalisation Fund and N858.46 million as exchange gain differences.

The sum of N50.95 billion was shared among the oil producing states as 13 per cent derivation fund in the month.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N3.91 billion, N6.49 billion and N3.19 billion as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria revealed that the sum of N203.04 billion was disbursed to the Federal Government consolidated revenue account.

In addition, N4.63 billion was disbursed as share of derivation and ecology; N2.31 billion as stabilisation fund.

Also, the sum of N7.77 billion was shared for the development of natural resources and N5.52 billion to the Federal Capital Territory (FCT) Abuja in March.

Tags: FAAC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria targets $1.2bn export capacity for every state
Economy/Technology

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

September 2, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

September 2, 2025
Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Next Post
Buhari, three governors leave for Paris peace forum

Buhari on private visit to UK

Nigerian senate president defeated

Saraki gets verdict

Recommended Stories

Contractor vows to surmount challenges on AKK gas project

Nigeria inaugurates wheat cultivation, targets 1.25m tonnes yield

November 26, 2023
Fraud in banking sector, mostly insider instigated

Why Islamic Development Bank is focusing on tackling poverty – Official

September 19, 2022
Buhari at FEC

Obasanjo’s letter (for the records)

July 16, 2019

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF
  • ‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF
  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

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
Call Us