Economy News Extra Latest News Revenue Revenue Agencies Tax

FG, Other Tiers Shared N1.92Trn In Q1, 2019 – NBS

The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year.

The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State and Local Governments got N649.19 billion compared to the N660.37 billion and 619.86 billion shared to them by FAAC in February and March respectively.

An analysis of the distributions to each tier of government showed that out of the N1.92 trillion, the Federal Government got N803.18 billion in the quarter under review while states received N530.14 billion and the local governments received N398.43 billion.

According to the report, in January the Federal Government received N270.17 billion and got N275.33 billion and N257.68 billion in February and March respectively.

Similarly, the states received N178.04 billion in January, N182.17 billion and N169.93 in March while the local governments got N133.83 billion in January, N136.88 billion and N127.72 billion in March.

The NBS reported further that January disbursements to the tiers of government comprised N547.46 billion from the Statutory Account, N100.76 billion from Valued Added Tax (VAT) and N976.53 million exchange gain differences.

In February, the bureau reported that disbursements to the tiers of government comprised N497.12 billion from the Statutory Account; N104.47 billion from Valued Added Tax (VAT) and N8.12 billion as excess charges recovered.

Also in March, the amount disbursed to the three tiers comprised of N474.42 billion from the Statutory Account, N96.39 billion from Valued Added Tax (VAT), N4.02 billion as excess bank charges recovered.

Spread the love

Leave a Reply

Your email address will not be published.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