FAAC Disburses N693.52bn in October 2019 - NBS

Tuesday, November 12, 2019  08:40PM / NBS / Header Image Credit:  NBS

The Federation Account Allocation Committee (FAAC) disbursed the sum of N693.52bn to the three tiers of government in October 2019 from the revenue generated in September 2019.

The amount disbursed comprised of N599.70bn from the Statutory Account, N92.87bn from Valued Added Tax (VAT) and N954.20m exchange gain differences.

Federal Government received a total of N293.80bn from the N693.52bn. States received a total of N186.81bn and Local Governments received N140.86bn. The sum of N51.53bn 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 N5.61bn, N8.18bn and N5.70bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N226.21bn was disbursed to the FGN consolidated revenue account; N5.32bn shared as share of derivation and ecology; N2.66bn as stabilization fund; N8.94bn for the development of natural resources; and N6.17bn to the Federal Capital Territory (FCT) Abuja.

Click Here to Download October 2019 FAAC PDF Report

Latest 2019 NBS Reports

Q4 2019

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6. GDP By Income and Expenditure Approach Q1 2019 - Household Final Consumption Exp. Grew by 1.41%
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Q3 2019

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13. Average Price Of 1kg of Rice Increases By 0.14% MoM To N356.61 In August 2019
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29. Average Fare Paid For Bus Journey Inter City Increased By 0.17% MoM to N1,606.92 in June 2019 - NBS
30. Average Price of 1kg of Tomatoes Decreased By -9.40% MoM to N226.07 in June 2019 - NBS
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Q2 2019

37. All Commodity Group Export Price Index Rose By 1.85% In Q1 2019
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57. 316,365kg of Drug Seized in 2018 - NBS
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Q1 2019

68. 8.41m Workers Are Registered Under The Pension Scheme As At Q42018 - NBS
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