• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Revenue Rises 17.86% As FAAC Disburses N802.407bn For June

by Mark Itsibor
3 years ago
in Business
FAAC
Share on WhatsAppShare on FacebookShare on XTelegram

The Federation Account Allocation Committee (FAAC) has shared a total sum of N802.407 billion being revenue that was generated in June 2022 to the federal government, states and local government governments.

Advertisement

This represents an increase of 17.86 per cent compared to the N680.783 billion disbursed for the month of May to the three tiers.

The information was contained in a communiqué issued at the end of the FAAC meeting for July 2022, held in Abuja.

The N802.407 billion total distributable revenue comprised distributable statutory revenue of N608.580 billion and distributable Value Added Tax (VAT) revenue of N193.827 billion.

In June 2022, the total deductions for cost of collection by revenue agencies was put at N44.606 billion and deductions for transfers, savings, refunds and 13 per cent derivation to Anambra State was a total sum of N373.200 billion, according to a statement that was issued by Office of the Accountant-general of the Federation.

RELATED

Naira Swap: Sterling Bank Sets Record Straight On N258m ‘Discovery’

Sterling Bank Names First Beneficiaries Of ₦2bn ‘Beyond Education’ Fund

2 hours ago
Finance Act, PIA: Accountant General Moves To Stop Revenue Leakages

Federal Gov’t Pays Second Tranche Of Wage Award Arrears

5 hours ago

As at today, the balance in the Excess Crude Account (ECA) is $376,655.09 million.

Total distributable revenue of N802.407 billion; the federal government received N321.859 billion, the state governments received N245.418 billion, while the 774 local government areas received N182.330 billion.

sum of N52.799 billion was shared to the relevant states as 13 per cent derivation revenue.

Gross statutory revenue of N1,012.065 billion was received for the month of June 2022. This is higher than the sum of N589.952 billion received in the previous month by N422.113 billion.

From the N608.580 billion distributable statutory revenue, the Federal Government received N292.785 billion, the state governments received N148.505 billion and the LGAs received N114.491 billion. The sum of N52.799 billion was shared to the relevant States as 13 per cent derivation revenue.

In the month of June 2022, the gross revenue available from the Value Added Tax (VAT) was N208.148 billion. That amount is lower than the N213.179 billion that was shared under the same component in the month of May 2022 by N5.031 billion.

From the N193.827 billion distributable VAT revenue, the federal government got N29.074 billion, while the states received N96.914 billion, with the local governments receiving N67.839 billion.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Long Cargo Dwell Time: Foreign Shipping Firms Surcharge Nigerian Importers N94bn In 2 Years

Next Post

Libya Raises Oil Production To 1.1mbpd, As Prices Moderate

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Naira Swap: Sterling Bank Sets Record Straight On N258m ‘Discovery’
Business

Sterling Bank Names First Beneficiaries Of ₦2bn ‘Beyond Education’ Fund

2025/08/08
Finance Act, PIA: Accountant General Moves To Stop Revenue Leakages
Business

Federal Gov’t Pays Second Tranche Of Wage Award Arrears

2025/08/08
Abuja Investments Company Limited Launches Automated System
Business

Abuja To Host Over 500 Global Investors At 2025 Business Investment Expo

2025/08/08
Bear Resurfaces As Equities Investors Lose N639bn
Business

Reforms Fuel Insurance Stock Rally

2025/08/08
Telecom Sector’s Survival Depends On Gov’t Support — Experts 
Business

16,000 Telecom Sites Risk Shutdown Over Diesel Shortage –Operators

2025/08/08
115 Internet Service Providers Connect 213,876 Nigerians In September
Business

1,000 Fibre Cuts Weekly Threaten Economic Stability, NCC Warns

2025/08/08
Leadership Conference advertisement

LATEST

Obi Donates N15m To College, Qur’anic Students In Bauchi

Mining Marshals Shut Down Illegal Quarry In Abuja As 13 Suspects Face Prosecution

NAF Foils Terrorist Attack, Kill Fleeing Insurgents In Borno

‘KWAM 1’s Abuja Airport Incident An Act Of Terrorism,’ Says Ex-Kogi SDP Candidate Ajaka

Nizamiye Hospital Denies Complicity In Ex-Niger North Senator’s Death

Police Arrest 5 Suspected Robbers, Ritualist In Akwa Ibom

Sterling Bank Names First Beneficiaries Of ₦2bn ‘Beyond Education’ Fund

‘I Will Die Peacefully After Service, Eating Pounded Yam’, Adeboye Restates Prophecy Of Own Death

Police Arrest 3 Over Alleged ATM Card Fraud, Tricycle Theft In Yobe

‘Forgery, Cyberbullying’, CP Shogunle Explains Why Sowore Is In Detention

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.