{"id":16544,"date":"2017-10-25T19:50:00","date_gmt":"2017-10-25T19:50:00","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=16544"},"modified":"2017-10-25T19:50:00","modified_gmt":"2017-10-25T19:50:00","slug":"oil-producing-states-to-receive-n35-4b-more-as-states-lg-share-n558-1b","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=16544","title":{"rendered":"OIL PRODUCING STATES TO RECEIVE N35.4b MORE AS STATES, LG SHARE N558.1b"},"content":{"rendered":"<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p style=\"text-align: left;\">The sum of \u00a0N558.082billioon has been shared as FACC allocation among the Federal, States and Local Government Councils \u00a0for \u00a0the month of September \u00a02017.<\/p>\n<p style=\"text-align: left;\">The \u00a0communiqu\u00e9 issued by the sub -Committee of Federation Accounts Allocation Committee (FAAC) of the Office of the Accountant-General of the Federation, \u00a0at the end of the meeting held today in Abuja, indicated that the gross statutory revenue received for the month is \u00a0N423.961 \u00a0billion and \u00a0 is lower \u00a0 than \u00a0the N550.992 billion \u00a0received in the previous month by N127.023 billion.<\/p>\n<p style=\"text-align: left;\">The shared amount comprise \u00a0the Month\u2019s Statutory distributable revenue of N423.961 billion and the \u00a0Value Added Tax of N83.315 billion, as well as Exchange Gain of N50.806 billion making up N558.082 billion. Accordingly, from Net Statutory Allocation, the Federal Government received \u00a0N198.054 billion representing (52.68%); States received N100.456 billion (26.72%); Local Government Councils received N77.447 billion representing (20.60%); while the Oil Producing States received N35.414 \u00a0billion as 13% derivation revenue.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=14813&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p style=\"text-align: left;\">Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N11.997 billion (15%); States received N39.991billion (50%) while the Local Government Councils received N27.994 billion \u00a0(35%).<\/p>\n<p style=\"text-align: left;\">The Communique further explained that there was a decrease in the average price of crude oil from $50.44 to $46.29 per barrel and a significant increase in \u00a0export sales of $176.4 \u00a0million due to increase \u00a0in oil production by 4.12 million barrels .However, activities at the Forcados terminal resumed for the first time since February 2016.<\/p>\n<p style=\"text-align: left;\">In spite of this there was \u00a0 also \u00a0shut-in and shut-down of pipelines \u00a0for maintenance \u00a0and for repairs . Furthermore, significant increases were also recorded in Oil royalty, while Companies Income, Petroleum Profit tax , Import and Excise Duties and Value Added Tax recorded witnessed considerable decline. Meanwhile the balance of the excess crude account is $2.309 billion. #end#<\/p>\n<p style=\"text-align: left;\">Kenechukwu \u00a0Offie (Mrs)<\/p>\n<p style=\"text-align: left;\">Director \u00a0Information, OAGF<\/p>\n<p><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/niger-delta-map-300x218.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-16545\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/niger-delta-map-300x218-300x218.jpg\" alt=\"\" width=\"300\" height=\"218\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sum of \u00a0N558.082billioon has been shared as FACC allocation among the Federal, States and Local Government Councils \u00a0for \u00a0the month of September \u00a02017. The \u00a0communiqu\u00e9 issued by the sub -Committee of Federation Accounts Allocation Committee (FAAC) of the Office of the Accountant-General of the Federation, \u00a0at the end of the meeting held today in [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[4],"tags":[4259,4260],"class_list":["post-16544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-federation-accounts-allocation-committee-faac","tag-kenechukwu-offie"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/10\/niger-delta-map-300x218.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-4iQ","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16544"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16544\/revisions"}],"predecessor-version":[{"id":16546,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/16544\/revisions\/16546"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/16545"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16544"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}