Revenue: FAAC N635.8bn To FG, States, LGS Share In November - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
December 19, 2019
The Federal, States and Local Governments shared the sumof  six-hundred-and-thirty-five-point-eight billion naira for the month ofNovember.
The Permanent Secretary, Ministry of Finance, Budget andNational Planning, Isa Dutse made this known while addressing newsmen after theFederation Account Allocation Committee, FAAC meeting.
He explained that the amount shared included Value-AddedTax, VAT, Exchange Gain and Forex Equalisation.
According to Dutse, the gross statutory revenue generatedfor the month was four-hundred-and-ninety-one-point-eight billion naira, whichwas lower than five-hundred-and-ninety-sixty-point-zero-four billion nairareceived in the previous month, with a difference ofone-hundred-and-four-point-one billion naira.
The Permanent Secretary said that the Federal Government gottwo-hundred-and-forty-two-point-two billion naira, Statesone-hundred-and-fifty-nine-point-nine billion naira while Local Governmentsreceived one-hundred-twenty-point-two  billion naira, inclusive of VAT.He noted that forty-two-point-one billion nairawas allocated to some states as 13 percent derivation of mineral revenues. Accordingto him, from the Forex Equalisation revenue of fifty threee3 billion naira, theFederal Government received twenty-four-point-two-nine  billion naira,while States got twelve-point-three-two-one billion naira, while the LocalGovernment Councils received nine-point-four-nine-nine billion naira