Nigeria: 2012 Q3 Budget Performance
Nigeria Budget Implementation Report As at Sept. 2012 *Source: Budget Office of the Federation WHAT NIGERIA (FG. STATES & LGA) RECEIVED. Actual Avg. Price $109.71 Actual Avg. Daily Production Budgeted Daily Production %24 2.46m bpd 2.48m bpd Budgeted Price $75 Excess Crude Account N1.83tn Other Deductions N402.36bn 1st Quarter N2.35tn 2nd Quarter N1.96tn shared 3rd Quarter N1.91tn JV Funds N847.7bn Federation Account N2.73tn Gross Oil Sales N6.23tn 13% Derivation Fund N408bn Gross Oil Sales is the total amount gotten from crude oil sales before deductions such as subsidy and joint venture funds are made. NNPC & Intl. Oil Companies invest together to explore oil fields, Joint Venture (JV) Funds are given to NNPC to fulfil its part of the deal. VAT POOL N502.26bn Value Added Taxes N526.31bn Company Income Taxes N680.48bn Federation Acct N408bn Customs Levy N353.91bn shared Taxes N1.49tn Collection Cost N73.04bn Comparing Budgeted & Actual Revenue in the Federation Account Budget N3.01tn Budget N1.67tn Actual N2.73tn Actual N1.49tn OIL NON-OIL Total Revenue in the Federation Account shared among FG, States and LGA between January-September 2012 is N4.22tn. This comprises of oil revenue of N2.73tn (65%) & N1.49tn (35%) for non-oil revenue. budgfīt For further analysis and clarification, kindly download report at http://goo.gl/eqi9D or send an email to [email protected] yourbudgit.com
Nigeria: 2012 Q3 Budget Performance
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