What's Hot

    Two dead in US Iowa latest shooting

    January 24, 2023

    Several senior Ukraine officials resign over corruption allegations

    January 24, 2023

    EU allocates  €102.5m humanitarian support  to Nigeria, 3 Lake Chad region countries

    January 24, 2023
    Facebook Twitter Instagram
    Trending
    • Two dead in US Iowa latest shooting
    • Several senior Ukraine officials resign over corruption allegations
    • EU allocates  €102.5m humanitarian support  to Nigeria, 3 Lake Chad region countries
    • Gunmen abduct corps member, five others in Enugu
    • Bandits kidnap school children in Nasarawa
    • UK condemns Iran’s execution of dual British-Iranian, plans sanction
    • EFCC drags ABU ex-vice chancellor, bursar to court over alleged 1bn theft
    • Scores killed as passenger plane crashes in Nepal
    Facebook Twitter Instagram
    Education TellEducation Tell
    Demo
    • Home
    • News
      1. Human Rights
      2. Crime and Security
      3. Politics
      4. Odd News
      Featured

      EU allocates  €102.5m humanitarian support  to Nigeria, 3 Lake Chad region countries

      January 24, 2023 News 2 Mins Read
      Recent

      EU allocates  €102.5m humanitarian support  to Nigeria, 3 Lake Chad region countries

      January 24, 2023

      Kano police headquarters set ablaze

      January 14, 2023

      2023: Things have fallen apart, Nigeria now ungovernable– Anglican Primate

      January 14, 2023
    • Foreign
    • Sports
    • Business
    • Education
      1. Institutions
      2. Professional
      3. Tertiary
      4. college
      5. Secondary
      6. Primary
      7. Examinations
      8. View All

      UNILAG gets first female Vice Chancellor, Prof Folashade Ogunsola

      October 7, 2022

      Inmate bags NOUN Second Class Upper degree

      June 29, 2022

      Prof. Bamire becomes 12th Vice Chancellor of OAU

      March 17, 2022

      Striking FCT teachers suspend 3 weeks strike

      February 10, 2022

      Council threatens to declare unregistered computer practitioners quacks

      May 7, 2019

      Our biggest headache is sexual harassments of students by lecturers- NUC

      August 27, 2018

      UNILAG gets first female Vice Chancellor, Prof Folashade Ogunsola

      October 7, 2022

      Inmate bags NOUN Second Class Upper degree

      June 29, 2022

      Prof. Bamire becomes 12th Vice Chancellor of OAU

      March 17, 2022

      Nigeria’s 205 universities not enough-NUC

      February 10, 2022

      Ogun collaborates industries on employment for tech college graduates

      July 28, 2020

      I’ll make Ogun State Nigeria’s technology hub- Gov Abiodun

      June 4, 2020

      Unity Schools go on 3 days break over presidential election

      February 9, 2019

      NDIC boss donates science laboratory to Zaria Academy

      July 15, 2018

      Striking FCT teachers suspend 3 weeks strike

      February 10, 2022

      Nasarawa gets N5bn UBEC intervention

      August 2, 2019

      FG earmarks 2% of UBE funds to quality assurance

      January 29, 2019

      UBEC Boss tasks PROs to improve visibility of govt. activities

      August 27, 2018

      NECO releases 2022 SSCE results, blacklists 29 supervisors

      September 29, 2022

      We have discovers 1m illegal admissions- JAMB

      March 17, 2022

      JAMB introduces Computer Studies, PHE to UTME

      January 31, 2022

      JAMB fixes date for 2022 UTM Examination

      January 24, 2022

      Nigeria ranks 10th largest in students studying in US

      November 14, 2022

      Soludo again, cancels teachers’ recruitment exercise over irregularities

      October 24, 2022

      FG Vs ASUU out-of-court settlement fails

      October 6, 2022

      10 Kaduna teachers killed, several others kidnapped in 2022 – Union

      October 5, 2022
    • Health
    • Entertainment
    • Features
      • Leadership
      • Interview
      • Opinion
      • Projects
      • Inventions
      • Personalities
    Education TellEducation Tell
    FAAC: FG, States, LGs share N788.13bn for Oct

    FAAC: FG, States, LGs share N788.13bn for Oct

    November 29, 2018 Business
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    FG releases framework to manage COVID-19 donor funds
    AGF Idris Ahmed
    Share
    Facebook Twitter LinkedIn Pinterest Email

     

    The Federal Government, States and Local Governments, have shared N788.13 billion as federal allocation for the month of October at the Federation Account Allocation Committee (FAAC) meeting.

    A statement issued by Mr Oise Johnson, Head, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), said the meeting was held after the 2018 National Council On Finance and Economic Development (NACOFED), in Kaduna.

    He said that the figure distributed was higher than the N698.7 billion shared for the month of September by N89.42 billion.

    Oise said a communique signed by the Accountant-General of the Federation, Mr Ahmed Idris was issued at the end of the meeting.

    “The communiqué issued by the Technical Sub -Committee of FAAC indicates that the gross statutory revenue received is N682.16 billion which is higher than the N569.28 billion received in the previous month by N112.88 billion.

    “In the same vein, crude oil export sales increased by 0.82 million barrels, resulting in an increased revenue to the federation of $54.19 million.

    “However, the average unit price dropped further from $75.69 to $73.92.

    “The distributable statutory revenue for the month was N682.16 billion, while, the total revenue distributable for the current month (including Value Added Tax (VAT) and Exchange Gain Difference) was N788.13 billion.’’

    In the summary of the distribution, the Federal Government got N284.3 billion from statutory revenue, N15.14 billion from VAT, N0.372 billion from the exchange gain, culminating in N299.9 billion.

    The states got N144.2 billion from statutory revenue, N50.48 billion from VAT, N0.18 billion from the exchange gain, culminating in N194.9 billion.

    The Local Governments got N111.2 billion from statutory revenue, N35.3 billion from VAT, N0.145 billion from the exchange gain, culminating in N146.6 billion.

    The oil producing states received N58.09 billion also representing 13 per cent derivation revenue.

    The communique also said that the cost of collection, transfer and Federal Inland Revenue Service (FIRS) refund came up to N 88.421 billion.

    The communique said that the shut-in and shut -down of pipelines at various terminals persisted due to leaks and maintenance.

    “Revenues from oil and gas royalties, Petroleum Profits Tax (PPT) and VAT increased significantly, while Companies Income Tax (CIT), import and excise duties increased only marginally.’’

    The NACOFED conference which ended on Wednesday, was held for State Commissioners for Finance, Accountants-General of states, staff of FIRS, Budget Office of the Federation, Debt Management Office and other stakeholders in the finance sector.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    No plan to hike petrol price – FG

    November 30, 2022

    Nigeria-UK total trade stands at 5bn pounds

    November 28, 2022

    Finance Minister to launch revised Capital Market Master Plan

    November 20, 2022

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Don't Miss
    Foreign

    Two dead in US Iowa latest shooting

    January 24, 2023 Foreign 1 Min Read

    Two people were confirmed died and a third seriously wounded Monday in a…

    Several senior Ukraine officials resign over corruption allegations

    January 24, 2023

    EU allocates  €102.5m humanitarian support  to Nigeria, 3 Lake Chad region countries

    January 24, 2023

    Gunmen abduct corps member, five others in Enugu

    January 22, 2023
    Top Posts

    *Decay of Brother R. Kelly: The character that stinks will eventually sink*

    January 27, 2020

    Nigerian educational system is horrifying – Soyinka

    October 15, 2019

    Rampaging herdsmen kill 6, behead farmers, burn houses in Anambra

    April 10, 2019

    HND harmonization: Civil Defence boss accused of selective payment, favoritism

    October 5, 2020
    Facebook Twitter Instagram WhatsApp
    Tech

    AU urges China partner to domesticate Juncao Technology in Nigerian universities

    July 20, 2022

    NCC warns telecom consumers on Flubot Malware

    October 22, 2021

    5G Spectrum goes for auctioning by Q4 2021-Danbatta

    July 18, 2021
    Most Popular

    *Decay of Brother R. Kelly: The character that stinks will eventually sink*

    January 27, 202050 Views

    Nigerian educational system is horrifying – Soyinka

    October 15, 201950 Views

    Rampaging herdsmen kill 6, behead farmers, burn houses in Anambra

    April 10, 201926 Views
    Facebook Twitter Instagram Pinterest
    • Home
    • About us
    • Get In Touch
    • Privacy Policy
    © 2023 Education Tell Designed by Digital Clan.

    Type above and press Enter to search. Press Esc to cancel.