OpeOluwani Akintayo
Lagos — The Department of Petroleum Resources, DPR received the sum of N2.7 billion as allocation from the Federation Account Allocation Committee, FAAC in October- N3 billion lesser than what it received in September.
Newly released statistics from the National Bureau of Statistics, NBS states that DPR got N2.77bn as cost of revenue collections in September.
The Department had received N5.70bn in September.
A timeline of its allocations from FAAC from January showed that DPR got the sum of N4.47bn in January, N4bn in February, N3.80bn in March, and N5.74bn in April.
In May, the Department received N2.98bn, N1.98bn in June, N2.68bn in July, and N4.22bn in August.
Apparently, the Department got the highest allocation in April (N5.74bn), and the lowest in June (N1.9bn).
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In September, other revenue-generating agencies such as Nigeria Customs Service, NCS, and Federal Inland Revenue Service, FIRS received N6.50bn, and N8.54bn respectively as cost of revenue collections.
Further breakdown of revenue allocation distribution to the Federal Government in September revealed that the sum of N180.75bn was disbursed to the FGN consolidated revenue account; N4.48bn shared as share of derivation and ecology; N2.24bn as stabilization fund; N7.52bn for the development of natural resources; and N5.74bn to the Federal Capital Territory, FCT Abuja.
