FAAC Disburses N649.19bn in January 2019

Sunday, February 17 2019  04:00 PM / NBS

The Federation Account Allocation Committee (FAAC) disbursed the sum of N649.19bn to the three tiers of government in January 2019 from the revenue generated in December 2018. 

The amount disbursed comprised of N547.46bn from the Statutory Account, N100.76bn from Valued Added Tax (VAT) and N976.53mln exchange gain differences N70bn. 

Federal government received a total of N270.17bn from the N812.76bn. States received a total of N178.04bn and Local governments received N133.83bn. The sum of N45.36bn was shared among the oil producing states as 13% derivation fund. 

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.69bn, N4.04bn and N8.04bn respectively as cost of revenue collections. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N216.57bn was disbursed to the FGN consolidated revenue account; N4.81bn shared as share of derivation and ecology; N2.43bn as stabilization fund; N8.15bn for the development of natural resources; and N5.82bn to the Federal Capital Territory (FCT) Abuja.

Click Here to Download January 2019 FAAC PDF Report

Latest 2019 NBS Report 

Q1 2019

1.       Average Intercity Bus Fare Decreased By -13.90% MoM To N1,541.38 in January 2019

2.      Headline Inflation Increases By 11.37% YoY in January 2019; 0.07% Lower Than December 2018 Rate

3.      Average Prices of PMS, AGO, HHK and Cooking Gas – January 2019

4.      Total Value of Capital Importation into Nigeria Stood at $16,812.47m in 2018 – NBS

5.      Nigeria’s GDP Grew By 2.38% YoY in Real Terms in Q4 2018 and 1.93% in Full Year

6.      828,502 Employees Employed By 1,110 Registered Private Guard Companies in 2018 - NBS

7.      States Generate N264.38bn as IGR in Q3 2018 - NBS

8.     NBS Publishes Drug Use in Nigeria 2018 Survey Report

9.      FAAC Disburses N3.19trn To FG in 2018 - NBS

10.  FAAC Disburses N2.38trn To FG in 2017 - NBS

11.   FAAC Disburses N812.76bn in December 2018 - NBS

12.  Average Price of 1kg of Tomato Decreased By -7.76% MoM To N294.36

13.  Average Within City Bus Journey Fare Decreased By -5.64% MoM To N181.61

14.  Headline Inflation Increases By 11.44% YoY in December 2018; 0.16% Higher Than November 2018 Rate