FG, states, LGAs share N655.2bn for January

-

The federal, states and local governments have shared N655.177 billion, being revenue generated in December 2017 and shared in January 2018.
The breakdown showed the total amount shared include N540.446 billion gross statutory revenue received for the month, which is lower than the N549.533 billion shared in the previous month by N9.089 billion.

Another sum of N83.963 billion was received from Valued Added Tax (VAT) as against the N80.426 billion distributed in the preceding month, resulting in N3.537 billion.
“The distributable statutory revenue for the month is N423.961 billion. The total revenue distributable for the current month (including VAT) is N558.082 billion”, minister of finance, Mrs Kemi Adeosun said while reading out the communiqué of the January meeting to journalists in Abuja.




Adeosun said the decrease in crude oil export sales by 0.59 million barrels resulted in decreased revenue from export sales of $11.65 million.

She however, stated that the average price of crude oil increased from $52.07 to $56.83 per barrel during the period under review.

The Federal Government got N252.543 billion or 52 per cent of the total money shared. All the states of the federation received the total sum of N128.093 billion, representing 26.72 per cent, while Local governments got N98.755 billion or 20.60 per cent of the N655.177 billion shared. The sum of N47.738 was shared among the oil producing states as 13 per cent derivation fund.
The Nigeria Customs Service (NCS) remitted N3.638 billion, Federal Inland Revenue Service (FIRS) N4.567 billion and Department of Petroleum Resources (DPR) N3.104, all less cost of revenue collections.

There is a balance of $2.317 billion in the nation’s Excess Crude Account, which shows that the federal government is yet to deduct the $1 billion approved by the National Economic Council (NEC) for funding of the war against Boko Haram insurgency in the North-East because there hasn’t been an approval from FAAC said the Minister.


Daily Trust

Comments

Post a Comment

Popular posts from this blog

IS NORA ARNEZEDER A LESBIAN? CAUGHT ON CAMERA KISSING A GIRL

-
Image
So what does Orlando Bloom see in French actress Nora Arnezder? Well, if it wasn't already pretty obvious, stunning pictures of the 24-year-old have emerged that show her topless on a vacation in 2011 with an Orlando lookalike. Then 21, the talented French actress showed off her incredible physique on the beach in Formentera with Manuele Malenotti, who is the spitting image of Bloom and also happens to be the owner of Belstaff brand.
Read more

KIM KARDASHIAN FANTASY FRENCH CHATEAU THAT WAS BUILT ONLY SIX YEARS AGO AS POSSIBLE WEDDING LOCATION FOR MAY NUPTIALS WITH KANYE WEST

-
Image
Kim Kardashian looked at a beautiful French chateau in France on Monday as a possible wedding venue for her May 24 nuptials to Kanye West. But while the the property, located 14 miles outside Paris in Louveciennes, looks like it could be old, it was actually built only six years ago. Chateau Louis XIV is meant to resemble a 17th century castle, but has all the modern amenities fit for a princess. Odd choice considering the 33-year-old reality star's show, Keeping Up With The Kardashians, has for years been accused of being fake as well. While it resembles a castle from the 17th century, the Chateau Louis XIV was actually built in 2008 Kim Kardashian & Kanye West
Read more

Church where people worship nude! Nude Church In Virginia, White Tail Chapel, Invites You To Bare More Than Your Naked Soul

-
Image
Virginia evangelical church the White Tail Chapel, US, has introduced a new phenomenon to Christian worship by asking its congregation to serve the Lord the way God created them by worshipping in the nude. Based in Ivor in the southern state of Virginia, the church asks all its worshippers to cast off all their material concerns including clothing when they come to wo rship. White Tail describes itself as a family nudist community where visitors can enjoy all manner of activities, including spiritual worship, completely natural or nude.
Read more