FG, states, LGs share N387.8bn for December ---FAAC
(Nigeria) The Minister of Finance, Mrs Kemi Adeosun, on Tuesday in
Abuja said that N387.8 billion was shared among the federal, states and local
governments as revenue for December, 2015.
Adeosun, who was represented by the
Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, announced this
while addressing newsmen on the outcome of the Federation Accounts Allocation
Committee, FAAC, meeting.
She said that the shared amount comprised the month's
statutory revenue of N315 billion.
"Also, there is the exchange gain of N4.5 billion which
is proposed for distribution. Adeosun also said that the money shared included
the N6.3 billion that was refunded to the federation account by Nigerian
National Petroleum Corporation, NNPC.
"Therefore the total revenue distributable for the
month of December, including VAT of N62 billion, is N387.8 billion," she
said.
It will be recalled that N369.9 billion was shared to the three
tiers of government as revenue for the month of November.
This month’s allocation shows an increase of N17.9 billion.
Giving the breakdown of revenue among the three tiers of government, Adeosun
said the Federal Government received N147.5 billion, representing 52.68 per
cent while states got N74.8 billion, representing 26.72 per cent.
The local governments, she said, received N57.7 billion,
amounting to 20.60 per cent of the amount distributed. She said N42.05 billion,
representing 13 per cent derivation revenue was shared among the oil producing
states.
Adeosun also announced that during the month under review,
Nigeria Liquified Natural Gas paid a dividend of 150 million dollars which had
earlier been distributed to the three tiers of government. The minister said
that the country generated N214.6 billion as mineral revenue and N100.3 billion
as non-mineral revenue in December.
She said this showed an increase of N16.04 billion and N1.5
billion respectively from what the country generated in the preceding month.
The minister also said the balance in the Excess Crude Account was 2.25billion
dollars, indicating that nothing had been removed or added since July, 2015.
Adeosun said acts of vandalism on oil pipelines among other factors had
continued to negatively impact on oil revenue generation.
She said shut-in,
shut-down of production for repairs, production shortfall due to technical
hitches at different terminals throughout the month impacted negatively on
crude oil and gas revenue. According to her, there was a revenue loss of 143.9
million dollars as a result of reduction in federation export sales and drop in
the average price of crude oil from 49.58 dollars in October to 43.4 dollars in
November, 2015," she said.
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