{"id":99634,"date":"2022-09-24T12:55:03","date_gmt":"2022-09-24T11:55:03","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=99634"},"modified":"2022-09-24T12:55:03","modified_gmt":"2022-09-24T11:55:03","slug":"fg-states-lgs-share-n673-137bn-for-august","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-states-lgs-share-n673-137bn-for-august\/","title":{"rendered":"FG, States, LGs Share N673.137bn For August"},"content":{"rendered":"<div id=\"m#msg-f:1744845593468357802\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">The Federation Account Allocation Committee (FAAC), has shared N673.137 billion to the three tiers of government as federation allocation for August.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div><\/div>\n<div>This is contained in a statement issued by Mr Phil Abiamuwe-Mowete, the Director (Information\/Press).<\/div>\n<div><\/div>\n<div>The Federal Government received N259.641 billion, the states received N222.949 billion, and the Local Government Councils got N164.247 billion.<\/div>\n<div><\/div>\n<div>The N673.137 billion was inclusive of Gross Statutory Revenue, Value Added Tax (VAT), and an Augmentation of Non Oil Excess Revenue.<\/div>\n<div><\/div>\n<div>The communiqu\u00e9 issued at the end of the meeting indicated that the Gross Revenue available from the VAT for August was N215.266 billion.<\/div>\n<div><\/div>\n<div>The amount was an increase distributed in the preceding month.<\/div>\n<div><\/div>\n<div>\u201cThe distribution is as follows: Federal Government got N32.290 billion, the States received N107.633 billion, Local Government Councils got N75.343 billion.<\/div>\n<div><\/div>\n<div>The communique said the Gross Statutory Revenue of N437.871 billion distributed was lower than the sum received in the previous month.<\/div>\n<div><\/div>\n<div>This is from which the Federal Government was allocated the sum of N216.815 billion, states got N109.972 billion, LGCs got N84.783 billion, and Oil Derivation (13 per cent mineral revenue) got N26.301 billion.<\/div>\n<div><\/div>\n<div>&#8220;Also, the N20 billion Augmentation of Non Oil Excess Revenue now converted to distributable revenue was shared to the three tiers of government as follows; the Federal Government received N10.536 billion, states got N5.344 billion, LGCs received N4.120 billion.\u201d<\/div>\n<div><\/div>\n<div>The communiqu\u00e9 further said that VAT, Import and Excise Duties recorded significant increases, while Companies Income Tax (CIT), Petroleum Profit Tax (PPT), Oil and Gas Royalties decreased considerably.<\/div>\n<div><\/div>\n<div>It was further disclosed that total revenue distributable for the current month of August was drawn from Statutory Revenue of N437.871 billion, and VAT of N215.266 billion.<\/div>\n<\/div>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div>The revenue was also drawn from N20 billion Augmentation of Non Oil Excess Revenue which brought the total distributable for the month to N673.137 billion.<\/div>\n<div><\/div>\n<div>However, the balance in the Excess Crude Account (ECA), as at Sept. 23 stands at 470,599.54 million dollars.<\/p>\n<div id=\"m_-7189759625287821574ymail_android_signature\"><a id=\"m_-7189759625287821574ymail_android_signature_link\" href=\"https:\/\/go.onelink.me\/107872968?pid=InProduct&amp;c=Global_Internal_YGrowth_AndroidEmailSig__AndroidUsers&amp;af_wl=ym&amp;af_sub1=Internal&amp;af_sub2=Global_YGrowth&amp;af_sub3=EmailSignature\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/go.onelink.me\/107872968?pid%3DInProduct%26c%3DGlobal_Internal_YGrowth_AndroidEmailSig__AndroidUsers%26af_wl%3Dym%26af_sub1%3DInternal%26af_sub2%3DGlobal_YGrowth%26af_sub3%3DEmailSignature&amp;source=gmail&amp;ust=1664100915142000&amp;usg=AOvVaw37xSJELuQZUCVCLox2quFH\">Sent from Yahoo Mail on Android<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\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 Federation Account Allocation Committee (FAAC), has shared N673.137 billion to the three tiers of government as federation allocation for August. This is contained in a statement issued by Mr&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":98728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-99634","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>FG, States, LGs Share N673.137bn For August - 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\/fg-states-lgs-share-n673-137bn-for-august\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG, States, LGs Share N673.137bn For August - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Federation Account Allocation Committee (FAAC), has shared N673.137 billion to the three tiers of government as federation allocation for August. 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