Fidelity bank banner NewsExpress advert
SUBSIDY SAVINGS: Details of how FG, States, LGs shared N731,133 billion for the month of March 2013

By News Express on 07/05/2013

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,082


The three tiers of Government in Nigeria have shared a total of N731,133 billion as Federal Allocation for the month of March 2013.

A communiqué issued by the Technical Sub-Committee of the Federal Account Allocation Committee (FAAC) shows that the distributable revenue for the month was N500,460 billion. 

“There was an augmentation of N123,308 billion which brought the total statutory allocation for the month to N623,768 billion,” the communiqué said.

Also distributed for the month was N7,617 billion refunded by the Nigerian National Petroleum Corporation (NNPC) and N35,549 billion from the Subsidy Reinvestment and Empowerment Programme (SURE-P).

According to the communiqué, the Gross Revenue of N595,708 billion was received for the month. This was higher than the N571, 676 billion received in the previous month by N24, 023 billion due partly to the receipt of arrears of sales of crude oil and gas.

The communiqué reported that within the period, there was a decrease in crude oil production and lifting operations due to the force majeure declared at Qua Iboe and Brass terminals and maintenance work at Okono, Brass and Amenam terminals.

For the month of March 2013, the gross revenue from Value Added Tax (VAT) witnessed an increase of N1,492 billion, the communiqué further revealed. It said that the sum of N64,199 billion was available as against N62,707 billion distributed in the preceding month.

A breakdown of the distribution showed that for the month of March, the Federal Government got N232,529 billion (52.68%) as against N209,856 billion received for the month of February. The State Governments shared a total of N117,942 billion (26.72%) as against N106,442 billion received for the previous month. The Local Governments shared N90, 928 billion (20.60%) against N82,062 billion received for February.

The oil producing states shared the sum of N55,008 billion as 13% derivation revenue for the month of March as against N47,484 billion collected for February 2013.

Please see our Photo Gallery on our home page for the full details, in figures, of the subsidy savings and what was given to the Federal Government, each State Government and every Local Government in the country.

Source News Express

Posted 07/05/2013 11:55 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
400,000 Nigerian children at risk of death: UNICEF...

Anti-graft corp berates NBA for canvassing reduction of...

Alex Otti to Abians: ‘It’s not all lost:...

Of Fulani killer squads, Nigeria Police and Chocolate...

Panic as Sara-Suka terror gangs hold Jos communities...

N30bn bailout proposed for pharmaceutical industry

Sunny and hazy conditions today, along with clouds...

Sagay dares Senate, vows not to obey summons...

Rivers re-run elections: APC sure of victory in...

Buhari gets ultimatum to end fuel scarcity

Crisis mars APC ward congress in Anambra •Ngige...

UN Tourism Agency to help boost tourism in...

 

Latest News Scramble for African startups by venture capitalists: Yay or Nay? asks Damilola Faustino The rustication of ’Kunle Adebajo by UI, the ‘University of Intolerance’, By ’Fisayo Soyombo Thunder kills 4 farmers in Abuja MASSOB leader, Uwazuruike, sent to jail US Border patrol chases 5 immigrants to death Rivers LG poll: PDP clears 23 council seats Man kills mother over love affair with her sister Terrorists kill 8 police personnel in Kenya blast APC governors move to prevent convention crisis Southern, Middle Belt leaders allege registration of mercenary voters by INEC EFCC re-opens investigation on N21.7bn power plant project Budget cycle inconsistency hindering economic development – Experts

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,660 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (350,769 views) Shameless Genevieve Nnaji exposes breasts in public (279,640 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,632 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,750 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,260 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,399 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,477 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,571 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,182 views) Lagos plane crash: Journalist releases victims’ names (143,549 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,416 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,241) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (503) Features (606) Global Business Monitor (281) International (2,034) Interview (153) Live Commentary (28) Love Matters (123) News (36,280) Opinion (1,003) Pidgin (10) Politics (5,271) Religion (770) Sports (1,549) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement