Federal government and other tiers of government Wednesday, shared the sum of N511. 799 billion for the month of July, 2015.
The gross revenue of N433.584 billion was received for the month under review, which was lower than the N485.952 received in the previous month by N52.368 billion.
At a Federation Accoint Allocation Committee (FAAC) meeting held Wednesday night, the Permanent Secretary in the ministry of Finance, Mrs. Anastasia Nwaobia, said the shut down and shut-in of production for maintenance and emergency repairs as well as declaration of Force Majeure by SPDC were the major issues that negatively impacted crude oil revenue in view.


She also said there was revenue loss of $22.53 million as a drop in average price of crude oil from $65.76 in May to $61.27 in June, 2015.
A breakdown of the figure shows that N433.584 billion was received from statutory allocation, N74.945 billion came from Value Added Tax (VAT).
Also, there was exchange gain of N6.409 billion which was also distributed.
Meanwhile, the sum of N6.330 billion was refunded by NNPC to federal government.
Further breakdown of the figures shows that Federal Government received N202.111 billion from statutory allocation, which represents 52.68 percent, while states and local governments received N102.513 billion and N79.033 billion respectively, representing 26.72 per cent and 20.60 per cent.
The Federal Government received N10.792 billion from VAT, the states and local governments got N35.974 billion and N25.181 respectively.
Oil producing states shared N25.181 billion as the 13 percent derivation against 21.837 billion shared in the previous month.
The Permanent Secretary, however told journalists that the Federal Government introduced the Single Treasury Account policy to further check leakages in the government revenue.
‘‘The Single Treasury Account policy is going to ensure that all revenue go into single account.
With all revenue going into a single account, Federal Government will have an over view of available monies in its account and plan expenditure. The leakages where people use monies in their various accounts will no longer be there and will enhance proper management of government resources.’’
Under the excess crude account, ECA, she stated that the reserve stood at $2.257 billion as at yesterday.
On why salaries are coming late, Nwaobia said, ‘‘salaries used to come early when we were not having revenue challenges, now we are having revenue challenges, salaries can’t be paid early as it used to be.
‘‘We need enough time to prepare before salaries can be paid now we are having revenue challenges.
‘‘We are hoping that when revenue improves and we hold FAAC meetings at the second week of the month, salaries will be paid much earlier. We hope civil servants will understand.’’
Responding to question on the rumoured exemptions of some government agencies from the STA policy, the Accountant general of the Federation, Ahmed Idris said there was no exemption.
‘‘STA is a government policy and for now, all agencies are funded from the budget and those partially funded are expected to key in. I am not away of any exception, we are coming up with adequate guidelines for the entire process and for the enlightenment of the general public. I am away agencies are complying.’’


http://www.vanguardngr.com/2015/08/how-fg-states-lgs-shared-n511-799bn-in-july/

always sharing...

When will I start to receive my own share of this huge billions every month. Oluwa should come to my aid.

You are having revenue challenges? I thought Buhari body language fixed that problem already

Why not just say. President Bubu Nama and the 36 governors shared 511.799 billion naira to their personal bank accounts in July. Cos last I checked, no state government has started any capital project. Just sharing and sharing oil money. Leaving us all to survive on our own. No social welfare for the masses.

After recovering one million barrels of crude oil stolen per day and we still have shortfalls.

IsraeliAIRFORCE:
After recovering one million barrel of crude stolen per day and we still have shortfalls.

that was good

atlwireles:



that was good

May be the crude oil thievery continues under a different manager without portfolio.

Sebi, somebody said Nigeria get plenty, plenty money. Where is the money now the old regime is gone?

Imagine the amount APC would have accused GEJ, Diezani and NOI of stealing in three months had Jonathan won re-election.


We should keep our eyes on Aisha Buhari, she is a confirmed conduit through which money flies to overseas.

The feeding bottle republic of the zoo.... Where 80% of Niger delta oil wells is owned by the north.. And a southern slave tribe will betray their southern brothers to return power to the born to rule people.. But fear not.. Its a sure thing..the sharing must stop and the zoo must fall...

atlwireles:
You are having revenue challenges? I thought Buhari body language fixed that problem already

IsraeliAIRFORCE:
After recovering one million barrels of crude oil stolen per day and we still have shortfalls.

'Permanent Secretary in the ministry of Finance, Mrs. Anastasia Nwaobia, said the shut down and shut-in of production for maintenance and emergency repairs as well as declaration of Force Majeure by SPDC were the major issues that negatively impacted crude oil revenue in view.


She also said there was revenue loss of $22.53 million as a drop in average price of crude oil from $65.76 in May to $61.27 in June, 2015'.

seunmsg:





'Permanent Secretary in the ministry of Finance, Mrs. Anastasia Nwaobia, said the shut down and shut-in of production for maintenance and emergency repairs as well as declaration of Force Majeure by SPDC were the major issues that negatively impacted crude oil revenue in view.


She also said there was revenue loss of $22.53 million as a drop in average price of crude oil from $65.76 in May to $61.27 in June, 2015'.

Buhari's body language was suppose to prevent all these setbacks. That's the message his almajiri minions have been dispersing to Nigerians. Abi I lie?

Demdem:


Free those fools. They read but can't understand simply because they are deranged.

Why hasn't Buhari body language fixed that too?

seunmsg:





'Permanent Secretary in the ministry of Finance, Mrs. Anastasia Nwaobia, said the shut down and shut-in of production for maintenance and emergency repairs as well as declaration of Force Majeure by SPDC were the major issues that negatively impacted crude oil revenue in view.


She also said there was revenue loss of $22.53 million as a drop in average price of crude oil from $65.76 in May to $61.27 in June, 2015'.

Na so you dey think? Declaration of Force Majeure by SPDC and other Oil major were rampant before now and moreover, Shell steal Nigeria's crude like nothing dey happen. So this excuse is lame.



And again she just give reasons for the disparity between the July allocation and August Allocation.


Where is the money from stolen 1,000,000 barrels per day? Is Aisha Buhari diverting the dollars?

[s]

Sincere9gerian:

Why hasn't Buhari body language fixed that too?

[/s]

Fix Shell's operations?Daft question

Demdem:
[s][/s]
Fix Shell's operations?Daft question

Lol.. daftdaft... but it fixed refineries and electricity naa...

Demdem:

so they are the same as shell operations right? Oponu.

Lol.. so body language dey select operation?? lol.. demdem..biko

Demdem:


Buharis incorruptible body language is doing wonders in our public sectors. Are u blind?

So y cant it work in shell operations...

Demdem:



ooo i see where ur problem is.................Does Shell Operations fall under public sector operations?

Lol.. demdem trying to escape.... dont worry I gat no time to argue...

[s]

crixtex:

Lol.. demdem trying to escape.... dont worry I gat no time to argue...

[/s]

Escape from what or u displaying ur folly?