• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, October 8, 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 Economy/Technology

Federal, States, Council share N1.08trn November

Allocation

The Matters Press by The Matters Press
December 16, 2023
Reading Time: 2 mins read
0
Experts validate Nigeria’s implementation strategies for success under AfCFTA

Abuja, Dec. 16, 2023: The Federation Account Allocation Committee (FAAC) has shared N1.088.783 trillion November revenue to the Federal Government, States and Local Government Councils (LGCs).

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

This is according to the communique issued by the FAAC at its meeting on Friday.

The communique said that the distributable revenue comprised statutory revenue of N376.306 billion, Value Added Tax (VAT) revenue of N335.656 billion, Electronic Money Transfer Levy (EMTL) revenue of N11.952 billion and Exchange Difference revenue of N364.869 billion.

According to the communique, total revenue of N1.620 trillion was available in the month of November.

“Total deductions for cost of collection was N60.960 billion; total transfers, interventions and refunds was N470.592 billion.

“Gross statutory revenue of N882.560 billion was received for the month of November. This was higher than the N660.090 billion received in the month of October by N222.470 billion.

“The gross revenue available from VAT in November was N360.455 billion. This was higher than the N347.343 billion available in October by N13.112 billion,” it said.

The communique said that from the N1.088.783 trillion total distributable revenue, the Federal Government received N402.867 trillion, the state governments received N351.697 billion and the LGCs received N258.810 billion.

“A total sum of N75.410 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.

“From the N376.306 billion distributable statutory revenue, the Federal Government received N174.908 billion, the State governments received N88.716 billion and the LGCs received N68.396 billion.

“The sum of N44.286 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue,” it said.

It said that the federal government received N50.348 billion, the state governments received N167. 828 billion and the LGCs received N117.480 billion from the N335.656 billion distributable VAT revenue.

“The communique further said that from the N11.952 billion EMTL, the Federal Government received N1.793 billion, the State Governments received N5.976 billion and the LGCs received N4.183 billion.”

It added that the federal government received N175.817 billion from the N364.869 billion exchange difference revenue, while the state governments received N89.177 billion, and the LGCs received N68.751 billion.

“The sum of N31.124 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.

“In the month of November, companies income tax, excise duty, petroleum profit tax, oil and gas royalties and VAT increased considerably, while CET levies, Import Duty and EMTL recorded decreases,” it said.

It announced that the balance in the Excess Crude Account was 473.754 million dollars.

Tags: Allocation
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
25 textile clusters get a boost through SMEDAN

China, Nigeria move to boost textile industry through fashion shows

Shettima urges members of NCP to ensure good lives through privatisation

Private sector has big role to play in Nigeria’s development — Shettima

Recommended Stories

Private sector in Mining sector will accelerate development

Tanzania mining firm lists on US securities exchange

July 9, 2023
ECOWAS clamours for free movement

Conference tasks West Africa on people centred governance of natural resources

August 8, 2022
Free Trade Zones: Nigeria increases licence validity period

Nigeria commits to infrastructure growth in Lekki Free-zone

February 1, 2024

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

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

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