May Allocation: N305.128bn Shared By FG, States And LGs

Minister of Finance, Kemi Adeosun has publicised the recent disbursement of funds from the federation account to the tiers of government.
Kemi Adeosun
 
The three tiers of government heaved a sigh of relief as they shared N305.128 billion at the end of the May Federation Account Allocation Committee (FAAC) meeting in Abuja as against N281.5 billion shared in previous month.

The slight improvement in revenue was as a result increased accruals into the Federation Account from non-oil and mineral revenue sources in the month of May.

Minister of finance, Mrs. Kemi Adeosun told journalists at the end of the meeting that, statutory allocation and Value Added Tax (VAT) also recorded slight improvements during the month under review.

According to the finance minister, the sum of N237.466 billion was available for statutory allocation compared to N213.817 billion realised last month, while Value Added Tax( VAT) improved slightly to N62.649 billion compared to N62.511 billion shared last month.

Mrs. Kemi Adeosun announced that a gross statutory revenue of N237.566 billion was received for the month which was higher than the N213.817 billion received in the previous month by N23.649 billion. According her, “Companies Income Tax ( CIT) recorded a marginal increase even as the time for companies to file their returns is yet to fall due.”
 
Of the net statutory allocation of N230.9 billion approved for sharing, the federal government got N122.830 billion, states got N57.229 billlion; Local governemnt councils got N44.121 billion while oil producing states got. N16.738 billion representing their share of 13% derivation.

The balance in Excess crude account remained unchanged at $2.261 billion.
 

COMMENTS

Name

Benue News,375,Biafra,5,Business News,72,Celebrities,92,Crime And Offence,45,Culture,25,Download,5,Education,57,Entertainment,152,Fashion,4,Foreign News,44,Ghana News,5,Health,36,Jobs/Recruitements,20,Nigerian News,823,Politics,305,Relationship,78,Slider,5,Sports,34,Taraba News,12,Technology,15,
ltr
item
Benue Blog Portal: May Allocation: N305.128bn Shared By FG, States And LGs
May Allocation: N305.128bn Shared By FG, States And LGs
http://www.tori.ng/userfiles/image/2016/jun/23/Kemi%20Adeosun.jpg
Benue Blog Portal
http://www.benueblog.com/2016/06/may-allocation-n305128bn-shared-by-fg.html
http://www.benueblog.com/
http://www.benueblog.com/
http://www.benueblog.com/2016/06/may-allocation-n305128bn-shared-by-fg.html
true
8328915417938209519
UTF-8
Loaded All Posts Not found any posts VIEW ALL Reply Cancel reply Delete Posted By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy