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FAAC Disburses N496.39bn in April 2017 - NBS


Friday, May 26, 2017 2:15 PM / NBS 

The Federation Account Allocation Committee (FAAC) disbursed the sum of N496.39bn to the three tiers of government in April 2017 from the revenue generated in March 2017. 

The amount disbursed comprised of N322.19bn from the Statutory Account; N66.97bn from exchange gain; N22.59bn from Excess Petroleum Product Tax (PPT) Account; N78.65bn 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 N195.57bn from the N496.39bn shared. States received a total of N127.99bn and Local governments received N95.99bn. The sum of N35.75bn was shared among the oil producing states as 13% derivation fund and N22.26bn 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 N3.84bn, N5.13bn and N3.61bn respectively as cost of revenue collections. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N164.64bn was disbursed to the FGN consolidated revenue account; N3.49bn shared as share of derivation and ecology; N1.75bn as stabilization fund; N5.88bn for the development of natural resources; and N4.21bn to the Federal Capital Territory (FCT) Abuja.  

Click Here to Download April 2017 FAAC (PDF) Report 

Latest 2017 NBS Reports 

Q2 2017


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

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

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

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

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

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

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

8.     Lagos, Rivers Top IGR for Full Year 2016

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

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

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

12.  2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS

13.  FAAC Disburses N466.93bn in March 2017

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

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

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

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

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

19.  7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

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

Q1 2017


21.  11,363 Road Traffic Crashes Recorded in 2016 - NBS

22. FAAC Disburses N514.15bn in February 2017

23. FAAC Disburses N430.16bn in January 2017

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

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

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

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

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

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

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

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

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

33. JAMB Received 11.7m Applications Between 2010 and 2016

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

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

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

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

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

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

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

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

42. 4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

43. 19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

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

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

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

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

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

49. 10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

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

51.   72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

52.  Lagos, Ogun Top IGR for H1 2016 

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