The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

FG, States, others Share N617.5bn as Revenues for March

Admin by Admin
May 1, 2019
in Headline News
FG, States, others Share N617.5bn as Revenues for March

ahmed idris

0
SHARES
7
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Accountant-General of the Federation, AGF, Mr. Ahmed Idris, on Tuesday said the Federal Government shared N617.56 billion as revenue generated in March to the three tiers of government.

The amount showed a shortfall of N2.29 billion from what was shared in February.

You might also like

Man Remanded For Impregnating 15-Year-old Girl In Lagos

US Court Jails Five Nigerians For 159 Years

OOU Faces Backlash Over ‘No Bra, No Entry’ During Examination

He made this known while addressing journalists at the end of the Federation Accounts Allocation Committee, FAAC, monthly meeting in Abuja.

Giving a breakdown of the revenue generated in March, Idris said that the revenue from mineral reduced by N41.65 billion, dropping from N350.09 billion in February to N308.4 billion in March.

On the other hand, the non-mineral revenue rose by N13.88 billion, from N124.3 billion in February to N138.2 billion in March.

The AGF said that in March, the federation crude oil sales increased by 49.18 per cent, leading to increased federation revenue of about 240.23 million dollars.

He explained further: “Also, the average crude oil price increased from 63.62 dollars to 79.06 dollars per barrel.

READ ALSO: Presidency: PDP Raises Alarm as INEC Replaces Servers Across States to conceal Rigging

“Lifting operations were adversely affected by production Shut in and Shut down at various terminals due to technical issues, leaks and maintenance.

“Revenues from Oil Royalty, import and Excise duties increased remarkably while Petroleum Profit Tax decreased marginally.”

Giving further details on how the money was shared, Idris said that the Federal Government received N208.39 billion while the states and local governments got N105.7 and N81.49 billion respectively.

In addition, 13 per cent of the mineral revenue amounting to N39.59 billion was shared to oil producing states.

The AGF noted that as at April 25, the Excess Crude Account, ECA, had 183 million dollars left in it after withdrawals were made to procure some Military hardware.

On the Implementation of the new minimum wage, he said it had technically commenced; therefore arrears would be paid once its cash backed.

Meanwhile, the Chairman, Commissioners of Finance Forum, Mr. Mahmoud Yunusa said the Forum had appointed the Commissioner of Finance, Kogi state as acting Head of the Forum till the incoming state governors appoint new commissioners.

Tags: AGFFAACFGN617.5bnnewsrevenuesSharestates
Admin

Admin

Recommended For You

COVID-19: Appeal Court Introduces Alternative e-payment For Filing Processes

Man Remanded For Impregnating 15-Year-old Girl In Lagos

A 23-year-old man, Victor Faleye, has been detained in custody at a correctional facility after his arraignment for allegedly defiling and impregnating a 15-year-old girl in Lagos. Faleye,...

Nigeria Ranks Seventh With International Students In US

US Court Jails Five Nigerians For 159 Years

A court in the United States has sentenced five Nigerian nationals to a combined 159 years in prison for their involvement in a sweeping $17 million fraud scheme...

OOU Faces Backlash Over ‘No Bra, No Entry’ During Examination

OOU Faces Backlash Over ‘No Bra, No Entry’ During Examination

A viral video showing female students of Olabisi Onabanjo University, Ago-Iwoye, being checked for bras before entering the examination hall has sparked widespread criticism online and on campus....

President Tinubu Signs Bills To Establish Three Tertiary Institutions

President Tinubu Signs Bills To Establish Three Tertiary Institutions

President Bola Ahmed Tinubu has signed into law three bills sponsored by the Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, establishing the Federal College of...

Next Post
Nov. 2 Kogi Governorship Race: Youths Donate N2m for Bello’s Re-election

Nov. 2 Kogi Governorship Race: Youths Donate N2m for Bello’s Re-election




Related News

Nigeria Suspends Emergency Passport Services In New York

Nigeria Suspends Emergency Passport Services In New York

INVESTIGATION: Former Employees Tackle First Bank, Vow to Expose Its Shady Deals

INVESTIGATION: Former Employees Tackle First Bank, Vow to Expose Its Shady Deals

Nigerian senators will make good Nollywood actors –Ezekwesili

2019 Presidential race: Oby Ezekwesili joins the race




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited