FG, States, LGAs share N547.31bn billion FAAC allocation f`or June

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According to the FAAC disbursement data released by the National Bureau of Statistics (NBS), the Federation Account Allocation Committee (FAAC) disbursed the sum of N547.31bn to the three tiers of government in June 2020 from the revenue generated in May 2020.

From the released data, the amount disbursed comprised of N413.95bn from the Statutory Account, N103.87bn from Valued Added Tax (VAT), N1.01bn from Excess Bank Charges Recovered for the Month and N28.47bn Exchange Gain Differences.

On the distribution to the tiers of government, Federal Government received a total of N219.80bn from the N547.31bn. States received a total of N152.47bn and Local governments received N114.09bn. The sum of N37.02bn was shared among the oil-producing states as 13% derivation fund.

Meanwhile, revenue-generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N5.24bn, N7.09bn and N1.98bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N161.74bn was disbursed to the FGN consolidated revenue account; N3.90bn shared as a share of derivation and ecology; N1.95bn as stabilization fund; N6.55bn for the development of natural resources; and N4.82bn to the Federal Capital Territory (FCT) Abuja.

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FG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand SpurFG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand Spur

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FG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand SpurFG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand Spur

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 FG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand Spur

 

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"I am delighted to join The Trade Desk and build on the success the company has had in North Asia," said Ho. "The advertising industry is at a turning point right now, and there's enormous opportunity for brands to leverage global best practices and connect with consumers in new ways. It's very exciting to be a part of the team that's delivering a unique solution and expertise to global advertisers in the region."


About The Trade Desk

The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, FG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand SpurTwitter, and LinkedIn. 

 

FG, States, LGAs share N547.31bn billion FAAC allocation f`or June - Brand Spur

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