…N9bn for development of natural resources
OpeOluwani Akintayo
23 January 2019, News Wires — The Department of Petroleum Resources, DPR, received an allocation of N3 billion from the Federal Account Allocation Committee, FAAC, in December 2018.
Newly-released data by the National Bureau of Statistics showed that the department got a total of N3.53 billion, while other revenue generating agencies like Nigeria Customs Service, NCS, and the Federal Inland Revenue Service, FIRS, got N5.01bn and N9.65bn respectively as cost of revenue collection.
FAAC had disbursed the sum of N812.76bn to the three tiers of government in December 2018 from the revenue generated in November 2018.
The amount disbursed comprised of N649.63bn from the Statutory Account, N92.08bn from Valued Added Tax, VAT, N1.05bn exchange gain allocation and the distribution of N70bn from the FOREX equalisation fund.
