FAAC Disburses N716.30bn in January 2020 - NBS


Friday, March 13, 2020  08:30 PM / NBS/ Header Image Credit:  NBS


The Federation Account Allocation Committee (FAAC) disbursed the sum of N716.30bn to the three tiers of government in January 2020 from the revenue generated in December 2019.


The amount disbursed comprised of N600.31bn from the Statutory Account, N114.81bn from Valued Added Tax (VAT), and N1.18bn Exchange Gain Allocation.


Federal Government received a total of N287.93bn from the N716.30bn. States received a total of N191.30bn and Local Governments received N143.70bn. The sum of N50.28bn 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 N5.24bn, N9.64bn and N4.47bn respectively as cost of revenue collections.


Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N220.84bn was disbursed to the FGN consolidated revenue account; N5.16bn shared as share of derivation and ecology; N2.58bn as stabilization fund; N8.67bn for the development of natural resources; and N6.19bn to the Federal Capital Territory (FCT) Abuja.


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Q1 2020

  1. FAAC Disburses N2.93trn to FG in 2019 - NBS
  2. Total Value of Capital Imported in Q4 2019 Stood At $3,802.38m - NBS
  3. FAAC Disburses N650.83bn in December 2019 - NBS
  4. Nigeria's Merchandise Trade Grew in Q4 2019; Imports Rose Faster Exceeding Falling Exports
  5. Nigeria's GDP Grew By 2.55% in Real Terms in Q4 2019 and 2.27% in Full Year 2019
  6. Average Prices of 1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS
  7. Average Prices Of PMS, AGO, HHK and Cooking Gas - January 2020
  8. Headline Inflation Increases By 12.13% YoY In January 2020; 0.15% Higher Than December 2019 Rate
  9. N293.80bn Generated as IGR in Q3 2019 - NBS
  10. Nigeria's Total Public Debt Stood At N26.14trn in Q3 2019 - NBS
  11. Average Intercity Fare Increases By 1.43% MoM To N1, 666.57 In December 2019
  12. Average Price of 1kg of Tomato Decrease YoY by -2.80% To N263.90 In December 2019
  13. All Commodity Group Index Grew By 2.48% in Q3 2019
  14. Average Prices Of PMS, AGO, HHK and Cooking Gas - December 2019
  15. Headline Inflation Increases By 11.98% YoY In December 2019; 0.13% Higher Than November 2019 Rate 


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