Sunday, February 5, 2023
  • Login
No Result
View All Result
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
No Result
View All Result
The News Beam
Home News Business & Economy Economy

FG Receives N619bn Allocation in December 2020

March 23, 2021
in Economy, Finance, News
Reading Time: 2 mins read
0
A A
0
FG Receives N619bn Allocation in December 2020
Share on FacebookShare on Twitter

The Federation Account Allocation Committee (FAAC) has said that it disbursed the sum of N619.34bn to the three tiers of government in December 2020 from the revenue generated in January 2021.

Contained in a report by the National Bureau of Statistics, NBS, “The amount disbursed comprised of N437.26bn from the Statutory Account, N3.83bn as Exchange Gain Difference, N6.90bn from Distribution of FOREX Equalisation and N171.36bn from Valued Added Tax (VAT).

“Federal Government received a total of N218.30bn from the N619.34bn. States received a total of N178.30bn and Local Governments received N131.79bn. The sum of N31.83bn was shared among the oil producing states as 13% derivation fund.

“Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N6.99bn, N10.43bn and N6.36bn respectively as cost of revenue collections.

“Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N146.33bn was disbursed to the FGN consolidated revenue account; N3.69bn shared as share of derivation and ecology; N1.85bn as stabilization fund; N6.20bn for the development of natural resources; and N5.22bn to the Federal Capital Territory (FCT) Abuja.”

Read Also: Nigerians Pay More for Petrol, Cooking Gas, in February 2021

Tags: FAACGovernmentJanuary 2021Revenue
ShareTweetSend
Previous Post

Nigerians Slam Lauretta Onochie for Supporting Lifestyle Auditing

Next Post

57 Residents to Clean Community for Flouting COVID Rules in Nairobi

Related Posts

REVEALED! Bank officials hiding new notes behind old notes
News

REVEALED! Bank officials hiding new notes behind old notes

February 4, 2023
42
Banks suffer 11% reduction in new loans as customers resist interest rate hike
News

Shortage of New Naira notes: Emefiele begs Nigerians, says CBN addressing supply hiccups

February 3, 2023
62
Banks suffer 11% reduction in new loans as customers resist interest rate hike
Business & Economy

New Naira Notes: CBN allows  banks to pay N20k per day over-the-counter

February 2, 2023
41
New Naira Notes: Emefiele blames banks for scarcity, abuse at parties
Finance

New Naira Notes: Emefiele blames  banks for scarcity, abuse at parties

January 31, 2023
36
Delia Ferreira Rubio, Transparency International Chairperson
News

Corruption: Nigeria ranks 150 out of 180 countries

January 31, 2023
33
INEC
News

Fuel scarcity could affect 2023 election logistics-INEC warns

January 31, 2023
29
Next Post
57 Residents to Clean Community for Flouting COVID Rules in Nairobi

57 Residents to Clean Community for Flouting COVID Rules in Nairobi

Fati and Bennison Wins Best Football Wonderkids for NXGN 2021

Fati and Bennison Wins Best Football Wonderkids for NXGN 2021

Leave a Reply Cancel reply

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

I agree to the Terms & Conditions and Privacy Policy.

  • Trending
  • Comments
  • Latest
How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

October 16, 2020
Covid-19: See List of Vaccination Centers in Lagos State

Covid-19: See List of Vaccination Centers in Lagos State

August 19, 2021
Banks suffer 11% reduction in new loans as customers resist interest rate hike

CBN reveals 9 Business Categories that recorded Increased Activity This Month

9
BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from 'Anonymous' hack

BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from ‘Anonymous’ hack

7
REVEALED! Bank officials hiding new notes behind old notes

REVEALED! Bank officials hiding new notes behind old notes

February 4, 2023
Banks suffer 11% reduction in new loans as customers resist interest rate hike

Shortage of New Naira notes: Emefiele begs Nigerians, says CBN addressing supply hiccups

February 3, 2023

Categories

  • Agriprenuers (12)
  • Books & Arts (7)
  • Business & Economy (436)
  • Capacity Building (25)
  • CDAs (2)
  • Community Champions (1)
  • Crime (196)
  • DEVELOPMENT (74)
  • Development Agencies (109)
  • Economy (318)
  • Education (192)
  • Entertainment (405)
  • Faith (55)
  • Finance (339)
  • Global (103)
  • Guest Columnists (17)
  • Health (56)
  • Health (242)
  • Industry (149)
  • LGAs (1)
  • Lifestyle (98)
  • MGDs (10)
  • News (2,298)
  • Politics (374)
  • Projects (2)
  • Relationships (70)
  • Security (164)
  • SMEs (15)
  • SPECIALS (87)
  • Sports (311)
  • Street Money (9)
  • Tech (138)
  • Teens World (3)
  • The Entrepreneur (26)
  • Uncategorized (70)
  • Your Community (33)
  • Youthprenuers (14)
No Result
View All Result
News
Politics
Business & Economy
Sports
Entertainment
Global

Development

Health
Education
MGDs
Development Agencies

Your Community

CDAs
LGAs
Projects
Community Champions

The Entrepreneur

Street Money
SMEs
Youthprenuers
Agriprenuers
Capacity Building

Specials

Lifestyle
Relationships
Books & Arts
Faith
Teens World
Guest Columnists

Follow Us

  • About Us
  • Contact Us
  • Terms of Usage
  • Privacy Policy
  • Advert Rates
  • Newsletters
  • Resources
  • Submit a Story
No Result
View All Result
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
  • Login

© 2020 The News Beam is the highest circulated and most read newspaper in Nigeria. The online portal of The News Beam is the most visited website in the world.

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
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe With The News Beam