FAAC releases allocation to FG, Stares LGAs for March 2021 (SEE SHARING FORMULA)

FAAC Releases Monthly (July) Allocations To FG, States, LGs - SEE SHARING FORMULAR
FAAC Releases Monthly (July) Allocations To FG, States, LGs - SEE SHARING FORMULAR
Spread the love

The Federation Accounts Allocation Committee (FAAC) has shared a total of N681.33 billion as March 2021 federation revenue to the Federal, States and Local Governments Councils and relevant Agencies in the country, PREMIUM TIMES reported.

READ ALSO:. BREAKING:. Gunmen invade church service, kill Medical Doctor, kidnap unspecified number of members in Kaduna

In the month of March 2021, N154 billion was transferred to the non oil revenue savings and the balance in the Excess Crude Account (ECA) was $ 72.413 million.

This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for April 2021.

The gross statutory revenue for the month of March 2021 was N466.687 billion, Value Added Tax (VAT) revenue was N181.712 billion and Exchange Gain was N2.931billion. The sum of N30 billion was added as augmentation, bringing the total distributable revenue to N681.330 billion.

READ ALSO:. Remains of Commander of IPOB’s Eastern Security Network, weapons, charms seized by the military (PHOTONEWS)

The communiqué indicated that from the total distributable revenue, the Federal Government received N212.146 billion, the State Governments received N179.242 billion, and the Local Government Councils received N132.193 billion.

The sum of N40.241 billion was shared to the relevant States as 13% derivation revenue, while the cost of revenue collection, transfers and refunds was N87.507 billion. The N30 billion augmentation was also shared as appropriate.

READ ALSO:. IPOB reacts to killing of 16 members of ESN by the Army, Police

From the gross statutory revenue of N466.687 billion available in March 2021, the Federal Government received N185.365 billion, the State Governments received N94.020 billion and the Local Government Councils received N72.485 billion.

The Federal Government received N25.349 billion from the Value Added Tax (VAT) revenue of N181.712 billion available in March 2021. The State Governments received N84.497 billion, the Local Government Councils received N59.148 billion, while N12.719 billion was for cost of collection, transfers and refunds.

READ ALSO:. Remains of Commander of IPOB’s Eastern Security Network, weapons, charms seized by the military (PHOTONEWS)

The communiqué confirmed that the Federal Government received N1.432 billion, the State Governments received N0.726billion, the Local Government Councils received N0.560 billion and the Oil Producing States received N0.213 billion from the total revenue of N2.931billion available from Exchange Gain.

READ ALSO:. A part of me has been taken by Yinka but the part of him I owned – YINKA ODUMAKIN’S WIFE IN OSUN (WATCH VIDEO)

Dear Distinguished VIPs,

On behalf of SOJ WORLDWIDE ONLINE NEWS team, I wish to add you to our WhatsApp Database to get our latest and breaking news directly into your WhatsApp Private Box as the news breaks.

If you are in good terms with this request, kindly contact this GSM numbers with your name, 08023851511 or 09069473894.for immediate action.

You may wish to add us to your WhatsApp groups using the above phone numbers to bring life into the groups from the news we will be forwarding into your platform from time to time.

Your prompt positive response would be highly appreciated.

Kindly introduce this opportunity to your friends.

Thank you for always being there for us.

Adesoji Omosebi
Editor-in-Chief
SOJ WORLDWIDE…an ONLINE NEWS with a difference.

www.sojworldnews.com (c) April 25, 2021

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.