The Federal, States and Local Government Areas shared over seven hundred and sixty two billion naira as federal allocation for the month of June.

The Accountant-General of the Federation Ahmed Idris stated this while addressing newsmen at the end of the Federation Accounts Allocation Committee, FAAC meeting.

Accountant-General of the Federation Ahmed Idris

He said that the gross statutory revenue of six hundred and fifty two point nine billion naira received for the month was higher than the five hundred and seventy one, point seven billion naira received in May by more than eighty one billion naira.

He said revenue from Petroleum Profit Tax and Companies Income Tax increased significantly, Value Added Tax, VAT increased marginally while 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.