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FAAC Disburses N647.39bn in March 2018 –NBS

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Monday, April 23,2018/07:30 PM / NBS 


The Federation Account Allocation Committee (FAAC) disbursed the sum of N647.39bn to the three tiers of government in March 2018 from the revenue generated in February 2018. 

The amount disbursed comprised of N557.29bn from the Statutory Account, N89.45bn from Valued Added Tax (VAT) and N654.49m excess bank charges. 

Federal government received a total of N270.81bn from the N647.39bn shared. States received a total of N173.76bn and Local governments received N130.91bn. The sum of N57.49bn 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 N3.82bn, N5.64bn and N2.97bn respectively as cost of revenue collections. 

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N230.33bn was disbursed to the FGN consolidated revenue account; N4.89bn shared as share of derivation and ecology; N2.45bn as stabilization fund; N8.23bn for the development of natural resources; and N5.72bn to the Federal Capital Territory (FCT) Abuja.  

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Click Here to Download March 2017 FAAC PDF Report 

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Latest 2018 NBS Reports
 

Q2 2018

  1. 720,958 Passport Applications Received in 2017 - NBS
  2. 309,713kg of Drug Seized in 2017 - NBS
  3. Average Intercity Bus Fare Decreased by -5.63% MoM in March 2018
  4. Average Price of Tomato Decreased by -0.58% YoY in March 2018
  5. Headline Inflation Drops to 13.34% in March 2018; 0.99% Lower Than February 2018 Rate
  6. Average Prices of PMS, AGO, HHK and Cooking Gas – March 2018
  7. Updated 2017 IGR Report – Osun State Grows IGR by 32.04% in FY 2017 

Q1 2018

  1. FAAC Disburses N635.55bn in February 2018 - NBS
  2. Lagos State Has The Highest Domestic and Foreign Debts as at December 2017 - NBS
  3. States Generate N931.23bn as IGR in 2017 - NBS
  4. Average Air Fare Increased by 1.47% MoM in February 2018 - NBS
  5. Average Price of 1kg of Yam Tuber Increased by 7.10% YoY in February 2018 - NBS
  6. Headline Inflation Drops to 14.33% in February 2018; 0.8% Lower Than January 2018 Rate
  7. Average Prices of PMS, AGO, HHK and Cooking Gas – February 2018
  8. Lagos, Abuja, Port Harcourt, Owerri and Kano Airports Served Over 92% of Total Passengers in Q4 2017
  9. 4,175 Ocean Going Vessels Recorded at Nigerian Ports in 2017
  10. Total Value of Capital Imported into Nigeria in Q4 2017 Estimated at $5,382.89m - NBS
  11. Nigeria’s GDP Grows in Real Terms by 1.92% in Q4 and 0.83% for Full Year 2017
  12. FAAC Disburses N655.18bn in January 2018 – NBS
  13. N254.10bn Generated as VAT in Q4 2017 – NBS
  14. Total Active Voice Subscription Increased by 3.69% in Q4 2017 – NBS
  15. 18.36bn Litres of PMS Distributed State-wide in 2017 – NBS
  16. 5.84m Students Enrolled in Junior Secondary Schools in 2016 - NBS
  17. 2,489 Road Traffic Crashes Occurred in Q4 2017 - NBS
  18. Average Air Fare Increased by 7.34% YoY in January 2018 - NBS
  19. Headline Inflation Drops to 15.13% in January 2018; 0.24% Lower Than 15.37% December Rate
  20. Average Prices of PMS, AGO, HHK and Cooking Gas – January 2018
  21. 7.82m Workers Are Registered Under the Pension Scheme as at Q4 2017 - NBS
  22. Daily Energy Generation Attained a Peak of 94,627MWh in Q4 2017 - NBS
  23. Banking Sector Records 461.98m Volume of Transactions in Q4 2017 - NBS
  24. 77.5m Persons Engaged in Some Sort of Economic Activities in Q3 2017 - NBS
  25. Average Fare Paid by Passengers for Water Transport Increased by 6.05% MoM to N631.55 in Dec 2017
  26. Average Price of 1kg of Yam Tuber Decreased by -3.67% YoY to N211.61 in December 2017 - NBS
  27. Headline Inflation Drops to 15.37% in December 2017; 0.53% Lower Than 15.90% November Rate
  28. Average Prices of PMS, AGO, HHK and Cooking Gas – December 2017
  29. Active Voice Subscribers Dropped by 8.73% in Q3 2017 – NBS
  30. Inequality in Nigeria Worsened Between 2004 and 2013 But Improved in 2016 – NBS
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