{"id":91043,"date":"2022-01-22T08:12:46","date_gmt":"2022-01-22T07:12:46","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=91043"},"modified":"2022-01-22T08:12:46","modified_gmt":"2022-01-22T07:12:46","slug":"faac-fg-states-lgs-share-n699-8bn-for-dec-2021","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/faac-fg-states-lgs-share-n699-8bn-for-dec-2021\/","title":{"rendered":"FAAC: FG, states, LGs Share N699.8bn For Dec 2021"},"content":{"rendered":"<p>The Federal Government, States and Local Government Councils (LGCs), shared N699.824 billion as federation allocation for December 2021.<\/p>\n<p>The amount was shared at the virtual conference of the Federation Accounts Allocation Committee (FAAC) chaired by the Permanent Secretary, Mr. Aliyu Ahmed.<\/p>\n<p>The Federal Government received N279.457 billion, the States got N210.046 billion, while LGCs shared N155.456 billion.<\/p>\n<p>The oil-producing states received N49.003 billion as derivation (13 per cent of Mineral Revenue).<\/p>\n<p>The gross revenue available from Value Added Tax (VAT) for December 2021 was N201.255 billion as against N196.175 billion distributed in November.<\/p>\n<p>This resulted in an increase of N5.080 billion.<\/p>\n<p>Of the VAT, Federal Government got N28.111 billion, States N93.705 billion and LGCs N65.593billion.<\/p>\n<p>The gross statutory revenue of N560.066 billion received for the month was lower than the N643.481 billion received in the previous month by N83.415 billion.<\/p>\n<p>From this, the Federal Government received N248.885 billon, States N126.238 billion, LGCs N97.324 billion and derivation (13 per cent mineral revenue) got N34.820 billion.<\/p>\n<p>The communiqu\u00e9 issued at the end of the meeting revealed that Companies Income Tax (CIT) and VAT increased reasonably.<\/p>\n<p>It added that Petroleum Profit Tax (PPT) and oil and gas royalties decreased significantly while import and excise duties decreased marginally.<\/p>\n<p>The distributable statutory revenue of N507.267 billion, VAT of N187.409 billion, Exchange Gain of N5.148 billion, brings the total distributable revenue for the month to N699.824 billion.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government, States and Local Government Councils (LGCs), shared N699.824 billion as federation allocation for December 2021. The amount was shared at the virtual conference of the Federation Accounts&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":90555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-91043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FAAC: FG, states, LGs Share N699.8bn For Dec 2021 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/faac-fg-states-lgs-share-n699-8bn-for-dec-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAAC: FG, states, LGs Share N699.8bn For Dec 2021 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Federal Government, States and Local Government Councils (LGCs), shared N699.824 billion as federation allocation for December 2021. 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