The Federal, States and Local Governments shared the sum of six-hundred-and-thirty-five-point-eight billion naira for the month of November.
The Permanent Secretary, Ministry of Finance, Budget and National Planning, Isa Dutse made this known while addressing newsmen after the Federation Account Allocation Committee, FAAC meeting.
He explained that the amount shared included Value-Added Tax, VAT, Exchange Gain and Forex Equalisation.
According to Dutse, the gross statutory revenue generated for the month was four-hundred-and-ninety-one-point-eight billion naira, which was lower than five-hundred-and-ninety-sixty-point-zero-four billion naira received in the previous month, with a difference of one-hundred-and-four-point-one billion naira.
The Permanent Secretary said that the Federal Government got two-hundred-and-forty-two-point-two billion naira, States one-hundred-and-fifty-nine-point-nine billion naira while Local Governments received one-hundred-twenty-point-two billion naira, inclusive of VAT.He noted that forty-two-point-one billion naira was allocated to some states as 13 percent derivation of mineral revenues. According to him, from the Forex Equalisation revenue of fifty threee3 billion naira, the Federal Government received twenty-four-point-two-nine billion naira, while States got twelve-point-three-two-one billion naira, while the Local Government Councils received nine-point-four-nine-nine billion naira
