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FAAC Disburses N466.93bn in March 2017

Proshare

 

Tuesday, April 25, 2017 8:25 AM/NBS 

The Federation Account Allocation Committee (FAAC) disbursed the sum of N466.93bn to the three tiers of government in March 2017 from the revenue generated in February 2017. 

The amount disbursed comprised of N290.16bn from the Statutory Account; N40.33bn from exchange gain; N60.89bn from Excess Petroleum Product Tax (PPT) Account; N69.21bn from Valued Added Tax (VAT) while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC). 

Federal government received a total of N180.51bn from the N426.88bn shared. States received a total of N116.51bn and Local governments received N87.47bn. The sum of N3.80bn was shared among the oil producing states as 13% derivation fund and N31.47bn transferred to the Excess Petroleum Product Tax (PPT) Account. 

Revenue generating agencies, Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N2.94bn, N4.15bn and N1.74bn respectively as cost of revenue collection. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N150.76bn was disbursed to the FGN consolidated revenue account; N3.24bn shared as share of derivation and ecology; N1.62bn as stabilization fund; N5.44bn for the development of natural resources; and N3.86bn to the Federal Capital Territory (FCT) Abuja. 

Click Here to Download March 2017 FAAC (PDF) Report 

Latest 2017 NBS Reports 

Q2 2017

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

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

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

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

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

6.      7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

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

Q1 2017

8.     11,363 Road Traffic Crashes Recorded in 2016 - NBS

9.      FAAC Disburses N514.15bn in February 2017

10.  FAAC Disburses N430.16bn in January 2017

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

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

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

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

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

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

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

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

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

20. JAMB Received 11.7m Applications Between 2010 and 2016

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

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

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

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

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

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

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

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

29. 4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

30. 19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

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

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

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

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

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

36. 10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

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

38. 72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

39. Lagos, Ogun Top IGR for H1 2016 

 

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