Close Menu
Albarka RadioAlbarka Radio
  • Home
  • Listen Live
  • Breaking News
  • Education
  • Health
  • National News
  • Latest News
  • Politics
  • Sports
  • Featured
What's Hot

Bauchi State Action Committee on Sexual and Gender-Based Violence Advocates for Mobile Court to Expedite Justice

December 9, 2023 News

Bauchi State Government Urged to Secure Unconditional Release of Rhoda Jatau

December 9, 2023 News

First Lady Hails Collaboration with Police, Urges Uncompromised Handling of SGBV Cases.

December 8, 2023 News
Facebook X (Twitter) Instagram WhatsApp Telegram
Trending
  • Bauchi State Action Committee on Sexual and Gender-Based Violence Advocates for Mobile Court to Expedite Justice
  • Bauchi State Government Urged to Secure Unconditional Release of Rhoda Jatau
  • First Lady Hails Collaboration with Police, Urges Uncompromised Handling of SGBV Cases.
  • Gidauniyar Almuhibbah ta horas da Masu bukata ta musamman kan dabarun sana’oi
  • Home
  • Live
  • About Us
  • Contact Us
  • Privacy Policy
Facebook X (Twitter) Instagram WhatsApp Telegram
Albarka RadioAlbarka Radio
LISTEN LIVE
  • Home
  • Listen Live
  • Breaking News
  • Education
  • Health
  • National News
  • Latest News
  • Politics
  • Sports
  • Featured
Facebook X (Twitter) Instagram WhatsApp Telegram
LISTEN LIVE
Albarka RadioAlbarka Radio
Home » FAAC Shares N954.085 Billion July 2022 Revenue To FG, States And LGCs

FAAC Shares N954.085 Billion July 2022 Revenue To FG, States And LGCs

Abdullahi Yahaya<span class="bp-verified-badge"></span>By Abdullahi YahayaAugust 25, 2022 National News 2 Mins Read
Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email Telegram WhatsApp

The Federation Account Allocation Committee (FAAC) has shared a total sum of N954.085 billion July 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting held in Abuja today.

The N954.085 billion total distributable revenue comprised distributable statutory revenue of N776.918 billion and distributable Value Added Tax (VAT) revenue of N177.167 billion.

In July 2022, the total deductions for cost of collection was N47.254 billion and total deductions for transfers, savings and refunds was N255.762 billion.

The balance in the Excess Crude Account (ECA) was $470,599.54

The communiqué confirmed that from the total distributable revenue of N954.085 billion; the Federal Government received N406.610 billion, the State Governments received N281.342 billion and the Local Government Councils received N210.617 billion. The sum of N55.515 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N1,066.845 billion was received for the month of July 2022. This was higher than the sum of N1,012.065 billion received in the previous month by N54.780 billion.

From the N776.918 billion distributable statutory revenue, the Federal Government received N380.035 billion, the State Governments received N192.759 billion and the Local Government Councils received N148.609 billion. The sum of N55.515 billion was shared to the relevant States as 13% derivation revenue.

In the month of July 2022, the gross revenue available from the Value Added Tax (VAT) was N190.256 billion. This was lower than the N208.148 billion available in the month of June 2022 by N17.892 billion.

From the N177.167 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N26.575 billion, the State Governments received N88.584 billion and the Local Government Councils received N62.008 billion.

According to the Communiqué, in the month of July 2022, Companies Income Tax (CIT), Petroleum Profit Tax (PPT), Excise Duties and Oil and Gas Royalties recorded significant increases, while Import Duty and Value Added Tax (VAT) decreased considerably.

Allocation FAAC local Gov't Nigeria State
Share. Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
Previous ArticleHauhawar Farashi: ‘Yan Kasuwa A Ghana Zasu Rufe Kasuwanni
Next Article NAAT Rejects ‘No Work, No Pay’ Policy, Suspends Strike
Abdullahi Yahaya
  • Website
  • Facebook
  • X (Twitter)
  • Instagram
  • LinkedIn

Seasoned Blogger. Software Developer. Web Designer & Developer. Cybersecurity Expert. Database Engineer. IT Enthusiast.

You Might Also Like

NSA tasks security, intelligence agencies on fight against insecurity

Breaking News

Russia-Ukraine war affects Nigeria’s crude oil inflows, says NNPC

Breaking News

Ex-reps Member Faroouk Hails Bauchi Gov’s Effort To Unite PDP

News

Ambassador Tuggar Empowers Hard-to-Reach Bauchi Communities With Boreholes

News

Tafawa Balewa LG Distributes Relief Materials To Mangu IDPs

Breaking News

President Buhari Signs Bill Establishing Federal University Of Transportation

Breaking News

Tinubu: Don’t turn Nigeria into banana republic, Obanikoro tells rivals

Politics

FOOD SECURITY: Group Trains One Thousand Wheat Farmers In Bauchi

News
Add A Comment

Leave A Reply Cancel Reply

You must be logged in to post a comment.

Subscribe to News

Get the latest breaking News from Albarka Radio.

Featured Posts

Bauchi State Action Committee on Sexual and Gender-Based Violence Advocates for Mobile Court to Expedite Justice

December 9, 2023

Bauchi State Government Urged to Secure Unconditional Release of Rhoda Jatau

December 9, 2023

First Lady Hails Collaboration with Police, Urges Uncompromised Handling of SGBV Cases.

December 8, 2023

December 8, 2023

Gidauniyar Almuhibbah ta horas da Masu bukata ta musamman kan dabarun sana’oi

December 3, 2023
Most Recent Posts
  • Bauchi State Action Committee on Sexual and Gender-Based Violence Advocates for Mobile Court to Expedite Justice
  • Bauchi State Government Urged to Secure Unconditional Release of Rhoda Jatau
  • First Lady Hails Collaboration with Police, Urges Uncompromised Handling of SGBV Cases.
  • (no title)
  • Gidauniyar Almuhibbah ta horas da Masu bukata ta musamman kan dabarun sana’oi
  • Bauchi First Lady tasked teachers to adopt technological advancements in their profession
  • Bauchi First Lady Commends League of Entrepreneurs for Empowering Women at Trade Fair, Encourages Business Growth and Economic Development
  • Bauchi state government to awards the First Fly-over bridges project to Chinese Company.
  • “We will never be distracted from serving our people” says Governor Bala Muhammad.
  • Governor Bala sought for Nigeria Police Support to tackle Banditry in the state as he welcomes new DIG to Zone 12.
Important Links
  • Home
  • Live
  • About Us
  • Contact Us
  • Privacy Policy

Subscribe to Updates

Get the latest from Albarka Radio right in your Inbox.

Albarka Radio
Facebook X (Twitter) Instagram WhatsApp Telegram
  • Home
  • Live
  • About Us
  • Contact Us
  • Privacy Policy
Copyright © 2023 Albarka Radio, All Rights Reserved | Designed and Developed by Abdul Tech Systems Limited.

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