The Federation Account Allocation Committee (FAAC) has distributed ₦609.95 billion from the federation Account to Federal, States and Local Government as revenue generated in November. This is ₦77.25 billion more than what they shared in October, Mr. Ahmed Idris, the Accountant-General of the Federation said. The distribution is also timely as it will enable states […]
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The Federal Accounts Allocation Committee (FAAC) yesterday disclosed that three tiers of government shared ₦637.704 billion in September this year. The money came from Value Added Tax (VAT), Petroleum Profit Tax (PPT) and Company Income Tax (CIT) and dwarfs the ₦467.852 billion shared by the three tiers of government in August. The Accountant General of […]
Read More The federal ministry, state and local governments shared ₦2.788 trillion between January and June this year, representing a 38 per cent increase over the ₦2.019 trillion shared in the first half of 2016. According to the Quarterly Review of the Nigeria Extractive Industries Transparency Initiative, which focused on disbursements from the Federation Accounts and Allocation […]
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The Nigerian National Petroleum Corporation (NNPC) overhead costs took the lion share of $33.8billion it generated in 2016, latest findings from BudgIT, a data and technology civic group has revealed. Further findings of the review of the corporation’s 2016 financial/operations report by BudgIT, said NNPC’s operational expenses between 2015 and 2016 consistently outstripped its revenue […]
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The Federal, 36 States and 774 Local Government Areas in the country shared shared ₦462.359 billion as revenue from the federation account for June . Of total statutory allocation, federal government received ₦147.682 billion, states got ₦74.906 billion; local government got ₦57.750 billion while ₦20.505 billion went to the oil producing States as 13 per […]
Read More The Federal Government says will recruit 7,500 graduates as Community Tax Liaison Officers to raise tax awareness among citizens. The Minister of Finance, Mrs Kemi Adeosun, along with the Chairman, Federal Inland Revenue Service (FIRS), Mr BabaTunde Fowler made this known at a joint press briefing on Thursday in Abuja. Adeosun said that the recruits […]
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Payments from the Federation Account Allocation Committee to state governments fell by N1.453tn between 2013 and 2016, the Nigeria Extractive Industries Transparency Initiative has said. According to NEITI report, the fall from N3.095tn that the states received in 2013 to N1.642tn in 2016, represents a 46.9 per cent decline, which was higher than the plunge in […]
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