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FAAC Disburses N418.82bn in May 2017 - NBS

Proshare

Thursday, June 22, 2017 11:00 AM /NBS  

The Federation Account Allocation Committee (FAAC) disbursed the sum of N418.82bn to the three tiers of government in May 2017 from the revenue generated in April 2017. 

The amount disbursed comprised of N275.20bn from the Statutory Account; N38.52bn from exchange gain; N20.42bn from Excess Petroleum Product Tax (PPT) Account; N84.67bn from Valued Added Tax (VAT) while no allocation was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC). 

Federal government received a total of N163.89bn from the N418.82bn shared. States received a total of N117.59bn and Local governments received N87.77bn. The sum of N29.94bn was shared among the oil producing states as 13% derivation fund and N3.09bn transferred to the Excess Petroleum Product Tax (PPT) Account. 

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N3.01bn, N5.39bn and N1.44bn respectively as cost of revenue collections. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N135.49bn was disbursed to the FGN consolidated revenue account; N2.88bn shared as share of derivation and ecology; N1.44bn as stabilization fund; N4.84bn for the development of natural resources; and N3.65bn to the Federal Capital Territory (FCT) Abuja.  

Click Here to Download May 2017 FAAC (PDF) Report

Latest 2017 NBS Reports

Q2 2017

1.       GDP By Income and Expenditure Approach – Basic Price GDP Declines by 2.3% in Q3’16 - NBS

2.      Average Price Watch of PMS, AGO, HHK and Cooking Gas - May 2017

3.      Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17

4.      Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS

5.      CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate

6.      N204.77bn Generated as VAT in Q1 2017 - NBS

7.      125,790 Cases of Reported Offences Recorded in 2016 - NBS

8.     Labour Productivity Rose to N684.43 in 2016 - NBS

9.      Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports

10.  Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS

11.   Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS

12.  FAAC Disburses N496.39bn in April 2017 - NBS

13.  Banking Sector Records 304.31 mln Volume of Transaction in Q1 2017 - NBS

14.  Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS

15.   GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction

16.  Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017

17. Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17

18.  Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017

19.  CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate

20. Lagos, Rivers Top IGR for Full Year 2016

21.  Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS

22. Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS

23. Lagos State has the highest domestic and foreign debt profile in 2016 - NBS

24. 2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS

25.  FAAC Disburses N466.93bn in March 2017

26. Daily Energy Generation Attained a Peak of 5,846 MW in Q1 2017 - NBS

27.  Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - March 2017

28. Average Intercity Transport Fare Increases to N1,466.46 in Mar’17 from N1,411.87 in Feb’17

29. Average Prices of 1kg of Yam Tubber Increased by 63.4% YoY in March 2017

30. CPI Drops to 17.26% in March 2017, 0.52% Lower Than 17.78% February Rate

31.  7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

32. Lagos Airport Accounted for 69.1% of International Passengers in 2016 - NBS

Q1 2017

33. 11,363 Road Traffic Crashes Recorded in 2016 - NBS

34. FAAC Disburses N514.15bn in February 2017

35.  FAAC Disburses N430.16bn in January 2017

36. Average Intercity Transport Fare Decreases to N1,411.87 in Feb’17 from N1430.63 in Jan’17

37.  Average Price of 1kg of Rice Increased by 68% YoY in February 2017

38. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - February 2017

39. CPI Drops to 17.78% in February 2017, 0.94% Lower Than 18.72% January Rate

40. Nigeria Produced 43.49m Tons of Solid Minerals in 2016 - NBS

41.  NIPOST Generates N8.84bn Revenue in 2016 - NBS

42. Q4 2016 Merchandise Trade Intensity - Total Trade Grows by 6.5% in 2016

43. Merchandise Trade Grows in Q4 2016 - Records First Quarterly Positive Trade Balance Since Q4 2015

44. GDP Contracts by -1.30% in Q4 and -1.51% for Full Year 2016; Is Nigeria on Its Way Out of Recession?

45.  JAMB Received 11.7m Applications Between 2010 and 2016

46. Average Kerosene Price Increases to N433.84 in Jan'17 from N231.85 in Dec'16

47.  Average Intracity Transport Fare Increases to N122 in Jan'17 from N84.29 in Dec'16

48. Average Cooking Gas Price Increases to N2,567.56 in Jan’17 from N2,002.16 in Dec’16

49. Average Diesel Price Increases to N240.52 in Jan’17 from N196.20 in Dec’16

50. Average Petrol Price Increases to N148.7 in Jan'17 from N146.7 in Dec'16

51.   CPI Rises to 18.72% in January 2017, 0.17% Higher Than 18.55% December 2016 Rate

52.  GENCOs Issued Total Invoice of N331bn to DISCOs in 2016

53.  Nigeria Produced 5.79 mln Tonnes of Fish Between 2010 and 2015

54.  4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

55.  19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

56.  Total Value of Capital Imported into Nigeria in Q4 2016 Estimated at $1,548.88mln - NBS

57.  Telecoms Sector Contributes N1,399bn to GDP in Q3 2016 - NBS

58. FAAC Disburses N426.88bn in December 2016 - NBS

59.  Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS

60. Daily Energy Generation Attained a Peak of 3,859.59MW in Q4 2016 - NBS

61.  10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

62. Nigeria Imports 4.83 bn Litres of PMS in Q4 2016 - NBS

63. 72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

64. Lagos, Ogun Top IGR for H1 2016 

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