Thursday, February 11,
2021 07:30 AM / by NBS/ Header Image Credit: NBS
Account Allocation Committee (FAAC) disbursed the sum of N601.11bn to the three tiers of government in December 2020 from
the revenue generated in November 2020.
disbursed comprised of N436.46bn from the
Statutory Account, N7.87bn from FOREX
Equalisation Account and N156.79bn from Value Added Tax.
Government received a total of N215.60bn from the N601.11bn. States received a total of N171.17bn and Local Governments received N126.79bn. The sum of N31.39bn was shared among the oil producing states as 13%
generating agencies such as Nigeria Customs Service (NCS), Federal Inland
Revenue Service (FIRS), and Department of Petroleum Resources (DPR) received N7.87bn, N9.41bn, and N3.98bn respectively as cost of revenue collections.
breakdown of revenue allocation distribution to the Federal Government of
Nigeria (FGN) revealed that the sum of N143.82bn was disbursed to the FGN consolidated revenue
account; N3.68bn shared as
share of derivation and ecology; N1.84bn as
stabilization fund; N6.18bn for the
development of natural resources; and N5.08bn to the Federal Capital Territory (FCT) Abuja.
Here to Download December 2020 FAAC PDF Report
2021 NBS Reports
Disburses N604.00bn in November 2020 - NBS
Value of Capital Importation into Nigeria Stood at US$1,069.68m in Q4 2020 -
N295.72bn Generated as
Company Income Tax in Q4 2020 - NBS
N454.69bn Generated as
Value Added Tax in Q4 2020 - NBS
Average Price of 1kg of Tomato Increases by 17.51% YoY in
December 2020 - NBS
Air Fare Increases by 18.54% YoY in December 2020 - NBS
Prices of PMS, AGO, HHK and Cooking Gas - December 2020
8. Headline Inflation Increases by 15.75% YoY In December
2020, 0.86% Higher Than November 2020 Rate
9. 62.18% of Nigeria's Total Public Debt as of Q3 2020 Was
Domestic - NBS
10. Active Voice Subscribers Grew by 4.59% in Q3 2020 - NBS