FAAC: Federal Government, States, LGs Share N762.5bn In June - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
July 27, 2019
The Federal, States and Local Government Areas shared overseven hundred and sixty two billion naira as federal allocation for the monthof June.
The Accountant-General of the Federation Ahmed Idris statedthis while addressing newsmen at the end of the Federation Accounts AllocationCommittee, FAAC meeting.
He said that the gross statutory revenue of six hundred andfifty two point nine billion naira received for the month was higher than thefive hundred and seventy one, point seven billion naira received in May by morethan eighty one billion naira.
He said revenue from Petroleum Profit Tax and CompaniesIncome Tax increased significantly, Value Added Tax, VAT increased marginallywhile Royalties, Import and Excise duties decreased considerably.
Idris added that the shared amount comprised the month’s statutory distributable revenue of over six hundred and fifty two, point nine billion naira.