Fidelity bank banner UBA banner
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: 2,213


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

 

You may also like...
President Buhari petitioned over CBN’s $7 billion soft...

Netflix comms boss sacked over ‘N-word’

Old Students Association adopts Udom Emmanuel as next...

Buhari, Saraki, at Sultan’s anniversary

Enyeama loses mother, pulls out of Super Eagles’...

Recovered N13bn: Anti-graft coalition invokes FOI on Lagos...

APC reiterates it will field candidates in Zamfara...

God has prepared me to be next Lagos...

Tackling security challenges in South-East: An insider’s account...

Popular University Professor’s son killed during robbery operation...

How to wipe out unemployment —Prof. Utomi

One month after ... Phone users lament blanket...

 

Latest News Over-population still a major challenge to Nigeria, Africa – Appiah 2019 Presidential Match: APC VS PDP, By Muhammad Ajah Crude Oil: A blessing too much News Express goes into magazine publishing; to debut at 2018 Anniversary Lecture Soldiers shoot, beat up traders in Lagos Lack of regular sex can lead to mental disorder in women — Psychiatrist N5.8bn Scandal: Make refunds, seek restitution now, PDP tells Osinbajo Police protest poor accommodation facilities in Imo Low voters’ turnout, malfunctioning card reader mar Kwara by-election Gunmen attack Rivers APC governorship candidate, Tonye Cole Zamfara: Gov Yari, Marafa fight over recruitment of 8,500 civilian JTF Bye-election: APC alleges invasion of Kwara communities by thugs

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (421,461 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,186 views) Shameless Genevieve Nnaji exposes breasts in public (323,111 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,691 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,260 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,540 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,148 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,699 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (175,985 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,630 views) Lagos plane crash: Journalist releases victims’ names (165,150 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,046 views)

 

Zenith Zero Balance First Bank banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (73) Business & Economy (3,796) Business Verdict (54) Columnists (964) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (567) Features (669) Global Business Monitor (310) International (2,691) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (37) News (40,615) Opinion (1,142) Pidgin (13) Politics (7,760) Religion (901) Sports (1,776) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera