• About Us
  • Advertise With Us
  • Contact Us
  • Donate
Saturday, July 19, 2025
Daily Intel Newspapers
  • Login
  • Welcome
  • Special reports
    • All
    • Unedited for the record
    Nigeria needs new constitution to return to true federalism — Delegates

    Nigeria needs new constitution to return to true federalism — Delegates

    Alleged N5.2bn fraud:  Ex-JAMB registrar, ICPC opt for out of court settlement

    Alleged N5.2bn fraud: Ex-JAMB registrar, ICPC opt for out of court settlement

    Facebook set new monetization rules for creators who uses other people content

    Facebook set new monetization rules for creators who uses other people content

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    SNAPSHOTS OF ACHIEVEMENTS

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    IPOB calls for review, says Kanya court ruling confirms Kanu’s trial lack legal foundation

  • Metro News
    Imo government move to end open grazing in Owerri, issues two-week ultimatum to herders

    Imo government move to end open grazing in Owerri, issues two-week ultimatum to herders

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Wike launch operation to flush street beggars, one- chance syndicate, others in FCT

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

  • Latest News
    • All
    • Crime watch
    Tinubu appoints IBB’s son, others into federal agencies

    Tinubu appoints IBB’s son, others into federal agencies

    US Congress approves Trump’s $9 bn cuts in foreign aid, public media

    US Congress approves Trump’s $9 bn cuts in foreign aid, public media

    Nigeria needs new constitution to return to true federalism — Delegates

    Nigeria needs new constitution to return to true federalism — Delegates

    Nigerian govt orders partial closure of Keffi bridge

    Nigerian govt orders partial closure of Keffi bridge

    Alleged N5.2bn fraud:  Ex-JAMB registrar, ICPC opt for out of court settlement

    Alleged N5.2bn fraud: Ex-JAMB registrar, ICPC opt for out of court settlement

    EFCC to appeal Fayose’s N6.9bn fraud acquittal

    EFCC to appeal Fayose’s N6.9bn fraud acquittal

    Trending Tags

  • Infotech
    Facebook set new monetization rules for creators who uses other people content

    Facebook set new monetization rules for creators who uses other people content

    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

  • World conflict & diplomacy
    UK prime minister back US military strikes on Iran ‘s nuclear sites

    UK prime minister back US military strikes on Iran ‘s nuclear sites

    Israel bombs Iran’s heavy water reactor, says state television

    Israel bombs Iran’s heavy water reactor, says state television

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

  • Security
    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Female suicide bomber kills 24, injure  scores in Borno community

    Female suicide bomber kills 24, injure scores in Borno community

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

No Result
View All Result
  • Welcome
  • Special reports
    • All
    • Unedited for the record
    Nigeria needs new constitution to return to true federalism — Delegates

    Nigeria needs new constitution to return to true federalism — Delegates

    Alleged N5.2bn fraud:  Ex-JAMB registrar, ICPC opt for out of court settlement

    Alleged N5.2bn fraud: Ex-JAMB registrar, ICPC opt for out of court settlement

    Facebook set new monetization rules for creators who uses other people content

    Facebook set new monetization rules for creators who uses other people content

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    SNAPSHOTS OF ACHIEVEMENTS

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    IPOB calls for review, says Kanya court ruling confirms Kanu’s trial lack legal foundation

  • Metro News
    Imo government move to end open grazing in Owerri, issues two-week ultimatum to herders

    Imo government move to end open grazing in Owerri, issues two-week ultimatum to herders

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Wike launch operation to flush street beggars, one- chance syndicate, others in FCT

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

  • Latest News
    • All
    • Crime watch
    Tinubu appoints IBB’s son, others into federal agencies

    Tinubu appoints IBB’s son, others into federal agencies

    US Congress approves Trump’s $9 bn cuts in foreign aid, public media

    US Congress approves Trump’s $9 bn cuts in foreign aid, public media

    Nigeria needs new constitution to return to true federalism — Delegates

    Nigeria needs new constitution to return to true federalism — Delegates

    Nigerian govt orders partial closure of Keffi bridge

    Nigerian govt orders partial closure of Keffi bridge

    Alleged N5.2bn fraud:  Ex-JAMB registrar, ICPC opt for out of court settlement

    Alleged N5.2bn fraud: Ex-JAMB registrar, ICPC opt for out of court settlement

    EFCC to appeal Fayose’s N6.9bn fraud acquittal

    EFCC to appeal Fayose’s N6.9bn fraud acquittal

    Trending Tags

  • Infotech
    Facebook set new monetization rules for creators who uses other people content

    Facebook set new monetization rules for creators who uses other people content

    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

  • World conflict & diplomacy
    UK prime minister back US military strikes on Iran ‘s nuclear sites

    UK prime minister back US military strikes on Iran ‘s nuclear sites

    Israel bombs Iran’s heavy water reactor, says state television

    Israel bombs Iran’s heavy water reactor, says state television

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

  • Security
    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Female suicide bomber kills 24, injure  scores in Borno community

    Female suicide bomber kills 24, injure scores in Borno community

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

No Result
View All Result
Daily Intel Newspapers
No Result
View All Result
Support Us Support Us Support Us
Home Citizen reporter

FG, states, LGs shared N1.358 trillion in July: FAAC

Daily Intel Newspaper by Daily Intel Newspaper
August 16, 2024
FG, states, LGs shared N1.358 trillion in July: FAAC

#image_title

Share on FacebookShare on TwitterChat With Us Live

The Federation Accounts Allocation Committee (FAAC) has shared the sum of N1.358 trillion among the federal government, states and local government councils (LGCs) for the month of July.

This is contained in a communique issued after the FAAC meeting for August on Friday in Abuja.

According to the communique, the N1.358 trillion total distributable fund comprised statutory revenue of N161.593 billion.

It also comprised Value Added Tax (VAT) revenue of N582.307 billion and Electronic Money Transfer Levy (EMTL) revenue of N18.818 billion.

Also included in the total distributable revenue was exchange difference revenue of N581.710 billion and solid mineral revenue of N13.647 billion.

The communique said that a total revenue of N2.613 trillion was available in the month of July.

“Total deduction for the cost of collection was N99.756 billion, while total transfers, interventions and refunds were N1.155 trillion,” it said.

According to the communique, gross statutory revenue of N1.387 trillion was received for July.

“This was lower than the sum of N1.432 trillion received in the month of June by N45.517 billion,” it said.

It said that gross revenue of N625.329 billion was available from VAT in July, adding that it was higher than the N562.685 billion available in the month of June by N62.644 billion.

“From the N1.358 trillion total distributable revenue, the Federal Government received the total sum of N431.079 billion, and the state government received N473.477 billion.

“The LGCs received N343.703 billion, and a total sum of N109.816 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue,” it said.

It said that on the N161.593 billion statutory revenue, the Federal Government received N58.545 billion and the state government received N29.695 billion.

It added that the LGCs received N22.894 billion, while the sum of N50.459 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

It further said that in July, oil and gas royalty, Petroleum Profit Tax (PPT), VAT, Import Duty, EMTL and CET levies increased significantly.

“Furthermore, Companies Income Tax (CIT) recorded a decrease while Excise Duties increased only marginally.

“The balance in the Excess Crude Account is 473,754 dollars.”

(NAN)

Share187Tweet117SendShare
Support Us Support Us Support Us
Daily Intel Newspaper

Daily Intel Newspaper

Next Post
NGO trains Katsina journalists, CSOs in digital security resilience

NGO trains Katsina journalists, CSOs in digital security resilience

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR POST

  • CBN directs Moniepoint, others to stop registering new customers

    CBN gives Moniepoint, OPay, others go ahead to onboard new customers

    789 shares
    Share 316 Tweet 197
  • South-East importers, exporters threaten strike over Nigerian Shippers’ Council’s 200% rates hike

    649 shares
    Share 260 Tweet 162
  • BREAKING: President Tinubu approves the reappointment of Adaji as DG of NBC

    633 shares
    Share 253 Tweet 158
  • Nigeria’s foreign reserves records $1.8bn fall in two months

    543 shares
    Share 217 Tweet 136
  • How Imo Chief Judge Theresa Chikeka falsified age, refuse to retire | Opinion by Odinkalu

    532 shares
    Share 213 Tweet 133

STAY CONNECTED

Follow Us

Categories

  • Aviation
  • Business
  • Citizen reporter
  • Corruption
  • Crime watch
  • Culture
  • Document
  • Education
  • Entertainment
  • Exclusive
  • Featured
  • Finance & economy
  • Foreign News
  • Health
  • Human rights & the people
  • Infotech
  • Interviews
  • Investigation
  • Judiciary
  • Latest News
  • Maritime
  • Metro News
  • News
  • Oil & gas
  • Opinion
  • Politics
  • Promoted
  • Science & Technology
  • Security
  • Special reports
  • Special updates
  • Sports
  • Unedited for the record
  • World conflict & diplomacy

LATEST NEWS

Tinubu appoints IBB’s son, others into federal agencies

Tinubu appoints IBB’s son, others into federal agencies

July 18, 2025
US Congress approves Trump’s $9 bn cuts in foreign aid, public media

US Congress approves Trump’s $9 bn cuts in foreign aid, public media

July 18, 2025
  • About Us
  • Advertise With Us
  • Contact Us
  • Donate

© 2025 All Rights Reserved Daily Intel Newspapers

No Result
View All Result
  • Home
  • Special reports
  • Special updates
  • World conflict & diplomacy
  • Infotech
  • Metro News
  • Latest News
    • Human rights & the people
    • Unedited for the record
    • Judiciary
  • Finance & economy
  • Exclusive
  • Security
  • Document
  • Education
  • Entertainment
  • Infotech
  • Investigation
  • Science & Technology
  • Aviation
  • Sports
  • Business
  • Culture
  • Finance & economy
  • Foreign News
  • Health
  • Corruption
  • Promoted
  • Crime watch

© 2025 All Rights Reserved Daily Intel Newspapers

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In