This tab lists amount of cash generated from the main revenue sources of government (oil, taxes, customs). All data is sourced from the Office of the Accountant General. Select the revenue source of interest, take a note of the numbers, and comment! What should government do with the money?


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Summary 2008 2009 2010 2011 2012
S/N DESCRIPTION BUDGET GROSS INFLOW TRANSFER TO ECA/EXCHANCE GAIN NET INFLOW DIFF. B/W BUDGET AND NET INFLOW
=N= Billion =N= Billion =N= Billion =N= Billion =N= Billion
1 NNPC
2 CRUDE OIL 2,738.41 3,642.98 1,611.14 2,031.84 -706.58
3 GAS SALES - - - - -
4 GROSS OIL & GAS 2,738.41 3,642.98 1,611.14 2,031.84 -706.58
6 TOTAL JVC 581.49 590.90 - 590.90 -9.41
7 TOTAL -SUBSIDY - - - - -
8 TOTAL DEDUCTION 581.49 590.90 - 590.90 -9.41
9 NET NNPC REVENUE 2,156.92 3,052.08 1,611.14 1,440.93 -715.99
10 DPR - - -
11 ROYALTIES ON OIL 443.33 687.61 248.00 439.61 -3.72
12 ROYALTIES ON GAS - - - - -
13 RENT 3.00 0.06 - 0.06 -2.94
14 GAS FLARED PENALTY 3.00 2.49 - 2.49 -0.51
15 MISCELLANEOUS, PIPELINE FEES, ETC 2.51 1.13 - 1.13 -1.38
16 TOTAL FOR DPR 451.84 691.30 248.00 443.30 -8.54
17 FIRS - - - -
18 PPT 1,536.45 2,060.88 643.82 1,417.07 -119.38
19 GAS TAX @ CITA RATE - - - - -
20 SUB-TOTAL -FOR OIL TAXES 1,536.45 2,060.88 643.82 1,417.07 -119.38
21 CORPORATE TAXES 364.00 321.80 - 321.80 -42.20
22 OTHER TAXES -STAMP DUTIES 14.96 98.78 - 98.78 83.82
23 CAPITAL GAINS TAX - - - - -
24 SUB -TOTAL -FOR NON OIL 378.96 420.58 - 420.58 41.62
25 LESS: TAX REFUND - - - - -
26 NET TOTAL 378.96 420.58 - 420.58 41.62
27 TOTAL FOR FIRS 1,915.41 2,481.47 643.82 1,837.65 -77.76
28 NCS - - -
29 IMPORT 255.60 238.62 - 238.62 -16.98
30 EXCISE 25.56 34.72 - 34.72 9.16
31 FEES 2.84 1.07 - 1.07 -1.77
SPECIAL LEVY 79.95 0 - -79.95
32 TOTAL FOR NCS 363.95 274.40 - 274.40 -89.54
33 TRANSFER TO EXCHANGE GAIN - - - -
TRANSFER FROM DOMESTIC - - - -
34 AVAILABLE FOR DISTRIBUTION 4,888.12 6,499.24 2,502.96 3,996.29 -891.84
35 TRANSFER TO SURE-P - - - - -
36 AMOUNT DISTRIBUTED 4,888.12 6,499.24 2,502.96 3,996.29 -891.84
37 SURE-P DISTRIBUTED - - - - -
38 AUGMENTATION / EXCESS REVENUE - - - -
39 GROSS AMOUNT DISTRIBUTED 4,888.12 6,499.24 2,502.96 3,996.29 891.84
40 TOTAL: OIL AND NON-OIL
41 OIL & GAS 4,145.21 5,804.26 2,502.96 3,301.30 -843.91
42 NON OIL 742.91 694.99 - 694.99 -47.92
43 TOTAL 4,888.12 6,499.24 2,502.96 3,996.29 -891.84
44 SUMMARY BY ORGANISATION - - - -
45 NNPC 2,156.92 3,052.08 1,611.14 1,440.93 -715.99
46 DPR 451.84 691.30 248.00 443.30 -8.54
47 FIRS 1,915.41 2,481.47 643.82 1,837.65 -77.76
48 NCS 363.95 274.40 - 274.40 -89.54
49 TOTAL 4,888.12 6,499.24 2,502.96 3,996.29 -891.84


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Nosa Joel, 39
Edo

What are the full meaning of these abbreviations
ECA
JVC
FAAC

2014-Mar-25 19:25
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2
Transparent Nigeria, 57
FCT

ECA = excess crude account. It is supposed to be a savings account filled with excess oil revenues that can be tapped to stabilize gov't spending and the economy during economic shocks. It is a source of controversy because some would like to tap the money immediately to fund whatever projects/initiatives they have in mind. While others argue that it is important for the government to save for a rainy day.

JVC = joint venture companies, commonly referring to joint ventures between the Nigerian government and multinational companies in the petroleum sector.

FAAC = Federal Accounts Allocation Committee, the body responsible for allocating and disbursing funds (primarily oil revenue) to the federal government, states, and LGAs

2014-Mar-29 12:17
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