P
ProfRem
Guest
The Federation Account Allocation Committee (FAAC) on Tuesday shared N415 billion to the three tiers of government being revenue for April 2017.
Giving the breakdown, the Minister of Finance, Mrs Kemi Adeosun said the gross statutory revenue of N274.210 billion received for the month, was lower than the N331.583 billion received in the previous month by N57.473 billion.
Represented by the Accountant General of the Federation, Ahmed Idris, the minister said there was a significant increase in Export Sales Revenue by about $63.69 million due to increase in the average unit price of crude from $55.86 to $55.38 per barrel and a rise in crude oil export volume by 1.07 million barrels.
Breakdown as follows:
1. Federal Government received N136.633 billion;
2. State governments got N103.842 billion
3. Local governments received N77.112 billion including the Value Added Tax (VAT).
- The Federal Inland Revenue Service, FIRS received 4 percent Cost of Collection from the N56.562 billion generated for the month.
- Nigeria Customs Service also took 7 percent cost of collection from the N43.468 billion generated in April 2017.
- The Department of Petroleum Resources also got its 4 percent cost of collection from the N36.115 billion generated for the month.
- The oil producing states received N22.640 billion being 13 percent derivations.
Giving the breakdown, the Minister of Finance, Mrs Kemi Adeosun said the gross statutory revenue of N274.210 billion received for the month, was lower than the N331.583 billion received in the previous month by N57.473 billion.
Represented by the Accountant General of the Federation, Ahmed Idris, the minister said there was a significant increase in Export Sales Revenue by about $63.69 million due to increase in the average unit price of crude from $55.86 to $55.38 per barrel and a rise in crude oil export volume by 1.07 million barrels.
Breakdown as follows:
1. Federal Government received N136.633 billion;
2. State governments got N103.842 billion
3. Local governments received N77.112 billion including the Value Added Tax (VAT).
- The Federal Inland Revenue Service, FIRS received 4 percent Cost of Collection from the N56.562 billion generated for the month.
- Nigeria Customs Service also took 7 percent cost of collection from the N43.468 billion generated in April 2017.
- The Department of Petroleum Resources also got its 4 percent cost of collection from the N36.115 billion generated for the month.
- The oil producing states received N22.640 billion being 13 percent derivations.
