FAAC Disburses N386bn To FG, States, Lgs In November 2016 - Politics

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,043 members, 7,818,101 topics. Date: Sunday, 05 May 2024 at 07:56 AM

FAAC Disburses N386bn To FG, States, Lgs In November 2016 - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / FAAC Disburses N386bn To FG, States, Lgs In November 2016 (13776 Views)

FAAC: FG, States, Lgs Share N668.89b After Deadlock / FAAC: FG, States, LGs Share N701 Billion In April / Osun Disburses First Tranche Of Paris Club Refund Released By FG (2) (3) (4)

(1) (2) (Reply) (Go Down)

FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Thisis2raw(m): 9:26pm On Dec 15, 2016

A total sum of N386.879billion has been disbursed as Federal Allocation for the month of November 2016 for the Federal Government, State Governments and Local Government Councils of the Federation.

The figure was released after the meeting of the monthly Federation Account Allocation Committee (FAAC) in Abuja on Thursday.

According to the figures released by Office of the Accountant General of the Federation, the gross statutory revenue of N240.120 billion received for the month was higher than the N238.716 billion received in the previous month by N1.404 billion. Crude Oil export volume decreased further by 0.34 million barrels while the average price of Crude Oil increased, from $46.54 to $47.08 per barrel during the period under review.

Federation export sales revenue declined by about $14.74 million.

A brief Force Majeure was declared at Bonny Terminal while the Force Majeure at Forcados, Qua Iboe and Brass Terminals were in place.
Federation revenue was low as a result of Shut-in and Shut-down of Pipelines for repairs and maintenance due to leakages and sabotage, however, Companies Income Tax (CIT) and Value Added Tax (VAT) recorded marginal increases.

The distributable Statutory Revenue for the month is N 206.448 billion. The sum of N 6.330 billion was refunded by NNPC to FGN.
There is a proposed distribution of N 66.000 billion from the Excess PPT Account. Also, exchange gain of N 38.852 billion is proposed for distribution.

The total revenue distributable for the current month (including VAT) is N 386.879 billion.

Consequently, from Statutory revenue, Federal Government received N97.897 billion (52.68%); States received N49.655billion (26.72%); Local Government Councils received N38.282 billion (20.60%); while the Oil Producing States received N13.613 billion as 13% derivation revenue.

http://www.vanguardngr.com/2016/12/faac-disburses-n386bn-fg-states-lgs-november-2016/

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by agwom(m): 9:27pm On Dec 15, 2016

hmmm

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by onatisi(m): 4:11am On Dec 16, 2016

What is the fg going to use 97billion for?no wonder there is deep corruption at the center. This country needs total restructuring.

5 Likes

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by BoleynDynaSTY(f): 4:39am On Dec 16, 2016

Still some states won't be able to pay workers undecided

. FG be chopping up, almost 98billion shocked

5 Likes

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Nobody: 9:33am On Dec 16, 2016

Mimiko, I hope you will pay our money before packing the rest to ondo.

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Dc4life(m): 9:33am On Dec 16, 2016

Can any one wonder why Nigeria is never going to improve? All we get to hear, month in, month out, year in, year out is SHARING monthly accruals. We will never hear this state or that generated this and that. Suppose oil stops to flow or becomes what Coal has become today, what will happen? The earlier we start thinking how to improve on, and use our Internally Generated Revenue, IGR and go to Abuja for necessary assistance when the need arises, the more confident we would be that Nigeria will survive. This ALMAJIRI system of EVERY MONTH CAP IN HAND may not sustain the country for too long, especially with all these modern technology of franking fuel and other sources of energy.

5 Likes 1 Share

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by dMODShavgonemad: 9:33am On Dec 16, 2016

Let them give us a full breakdown of what the state government received, so as to tell if it will b used judiciously

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by teamsynergy: 9:34am On Dec 16, 2016

remove LGS joor ... na state get am..nonsense

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by feodan: 9:34am On Dec 16, 2016

Nigeria policy

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by magabounce(m): 9:34am On Dec 16, 2016

Wokey ooo

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by mccoy47(m): 9:34am On Dec 16, 2016

I just hate reading tins like this! angry

Money money money yet the thieves keep owing!

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Nobody: 9:35am On Dec 16, 2016

And they won't still be paid salaries.

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Remilekun101: 9:35am On Dec 16, 2016

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Ijaya123: 9:36am On Dec 16, 2016

So much money but very little result.

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Nobody: 9:38am On Dec 16, 2016

We keepin seeing figures on daily basis,yet no tangible development,salaries ar bein owed,there's hunger in d land.

wats d money used for?

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by pantless(m): 9:38am On Dec 16, 2016

today's date pls...countdown to MMM reopening

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by vickertony(m): 9:38am On Dec 16, 2016

This country is a mess, sometimes i wonder what they use the allocations for.Most state Governors are fantastically corrupt! angry

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Pottijef(f): 9:40am On Dec 16, 2016

This money is audio. We dey always hear but we no dey see am

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Alexbrain(m): 9:40am On Dec 16, 2016

With all these plenty billions disbursed by FG there is still hunger in the land. They will share the money among themselves before it lands.

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by hernandson(m): 9:40am On Dec 16, 2016

Let them pay osun state pension and gratuity na. This people dnt even knw what recession is when all they need are always on allowance eg foods and the likes

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Pavore9: 9:44am On Dec 16, 2016

These monthly allocations is like MMM payout for many Governors!

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by sainty2k3(m): 9:49am On Dec 16, 2016

FG where is our November salary

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by sammyuche(m): 9:49am On Dec 16, 2016

They should pay health workers their salary oooooo. people are suffering

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by tuoyoojo(m): 9:49am On Dec 16, 2016

na wa o... all I see is money

as a federal government worker I was not paid last month

boys r not smiling

Christmas is just around the corner

na Baba God I dey look up to

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by wokemzine: 9:52am On Dec 16, 2016

Imagine! Before this news come out. Yesterday i don already recieve half salary for november. Chai

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by worlexy(m): 9:56am On Dec 16, 2016

FG taking 52% of the revenue and yet they can't pay salary of some MDAs

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Nobody: 9:56am On Dec 16, 2016

Unserious bunch of oldmen

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by GentlemanUnltd: 9:56am On Dec 16, 2016

onatisi:
What is the fg going to use 97billion for?no wonder there is deep corruption at the center. This country needs total restructuring.

There area about 300,000 policemen, 50,000 NSCDC, 20,000 Road safety officials, 300,000 Armed forces personnel, and another 50,000 federal civil servants, etc, working in various ministries and these people needs to be paid monthly salaries, including pensioners.

3 Likes

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by Cajayi(m): 9:59am On Dec 16, 2016

I don't think all of the guys commenting here know mathematics at all.... This is too low by the time you share it to the states I don't think Ondo can get up to 2B and the state claims to spend 4B on salaries alone. Even FG claims to spend 160B on salaries, how will less than 100B solve the problem?. My people receive the third eye

1 Like

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by nextprince: 10:02am On Dec 16, 2016

onatisi:
What is the fg going to use 97billion for?no wonder there is deep corruption at the center. This country needs total restructuring.

Really? Do u know the FG monthly wage bill?

1 Like 1 Share

Re: FAAC Disburses N386bn To FG, States, Lgs In November 2016 by bonechamberlain(m): 10:14am On Dec 16, 2016

When would all these sharing of money like criminals stop angry

(1) (2) (Reply)

2115 Delegates Were Accredited For PDP Convention But 2296 Voted. Really? / Guterres Appoints Amina Mohammed As UN Deputy Secretary-General For Second Term / Igbeh Ochogwu: Panel Issues Arrest Warrant On Police Commissioner

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 23
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.