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FAAC Disburses N467.85bn in August 2017 - NBS

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Monday, September 25, 2017/5:40PM/ NBS 

The Federation Account Allocation Committee (FAAC) disbursed the sum of N467.85bn to the three tiers of government in August 2017 from the revenue generated in July 2017. 

The amount disbursed comprised of N387.32bn from the Statutory Account and N80.53bn from Valued Added Tax (VAT). No allocation was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC) and no amount was also shared from the Excess Petroleum Product Tax (PPT) Account. 

Federal government received a total of N193.05bn from the N467.85bn shared. States received a total of N130.69bn and Local governments received N98.01bn. The sum of N31.59bn 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 N3.63bn, N6.76bn and N2.12bn respectively as cost of revenue collections. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N162.09bn was disbursed to the FGN consolidated revenue account; N3.44bn shared as share of derivation and ecology; N1.72bn as stabilization fund; N5.79bn for the development of natural resources; and N4.18bn to the Federal Capital Territory (FCT) Abuja.   

Click Here to Download August 2017 FAAC (PDF) Report 





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Lagos Accounted for 74.8% of International Passenger Traffic in Q2 2017
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Lagos State Has the Highest Foreign and Domestic Debts as at June 2017
3.     
CPI Drops to 16.01% in August 2017, 0.04% Lower Than 16.05% July Rate
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6.     
Average Price of 1kg of Yam Tuber Increased by 53.98% YoY in August 2017
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Nigeria’s Merchandise Trade Grew Marginally QoQ but Significantly YoY in Q2 2017
8.     2,287 Drug Abuse Convictions Secured in 2016 - NBS
9.     
Average Price of 1kg of Tomato Increased YoY by 15.65% in July 2017 - NBS
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Average Prices of PMS, AGO, HHK and Cooking Gas - July 2017
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Average Intercity Fare Increased YoY by 27.49% in July 2017 - NBS
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CPI Drops to 16.05% in July 2017, 0.05% Lower Than 16.10% June Rate
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Total Value of Capital Imported into Nigeria in Q2 2017 Estimated at $1,792.3m - NBS
14. 
FAAC Disburses N652.23bn in July 2017 - NBS
15.  
Active Voice Subscribers Dropped by 6.67% in Q2 2017 – NBS
16. 
Banking Sector Records 327.37m Volume of Transactions in Q2 2017 - NBS
17.  
870,397 Candidates Sat for NECO in June and July 2016
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3,457 Nigerians Repatriated from Abroad in 2016 – NBS
19. 
Corruption in Nigeria - Bribery as Experienced by the Population
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Nigeria Produced 656.8m Barrels of Crude Oil in 2016
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2,503 Road Traffic Crashes Recorded in Q2 2017 - NBS
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Daily Energy Generation Attained a Peak of 4,079MW in Q2 2017 - NBS
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7.59m Nigerians Are Registered Under the National Pension Scheme as at Q2’17 - NBS
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FAAC Disburses N462.36bn in June 2017 - NBS
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NBS Annual Abstract of Statistics 2016
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Average Intercity Transport Fare Decreases to N1,559.68 in Jun’17 from N1,565 in May’17
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CPI Drops to 16.10% in June 2017, 0.15% Lower Than 16.25% May Rate 

Q2 2017
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Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17
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CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate
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N204.77bn Generated as VAT in Q1 2017 - NBS
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125,790 Cases of Reported Offences Recorded in 2016 - NBS
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Labour Productivity Rose to N684.43 in 2016 - NBS
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Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports
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Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS
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Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS
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FAAC Disburses N496.39bn in April 2017 - NBS
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Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS
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GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction
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Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017
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Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17
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Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017
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CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate
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Lagos, Rivers Top IGR for Full Year 2016
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Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS
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Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS
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Lagos State has the highest domestic and foreign debt profile in 2016 - NBS
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2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS
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FAAC Disburses N466.93bn in March 2017
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Q1 2017
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11,363 Road Traffic Crashes Recorded in 2016 - NBS
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