See The Outrageous Amount Shared by FG, States, LGs For August Only
Posted by E.L.E.X on September 19 2020 under News
The Federal Government, states, and local government
councils had shared N682 billion as revenue allocation for the month of
August.
The Permanent Secretary, Ministry of Finance, Budget and National
Planning, Dr. Mahmoud Isa-Dutse, disclosed this in a statement issued by
the Director of Information in the ministry, Hassan Dodo, at the end of
the Federation Accounts Allocation Committee (FAAC) meeting held in
Abuja on Friday.
He said the amount included the cost of collection to Nigeria Customs
Service (NCS), Department of Petroleum Resources (DPR) and the Federal
Inland Revenue Service (FIRS).
According to him, the federal government received N272.9 billion,
states got N197.65 billion while local government councils had N147.4
billion.
He added that the oil-producing states received N30.88 billion as 13
percent derivation from mineral resources while Cost of
Collection/Transfer and Refund was N33.205 billion.
Isa-Dutse revealed that the gross revenue available from the Value Added Tax (VAT) for August was N150.23 billion.
This was higher than the N132.61 billion distributed in July by N17.611 billion.
He said: “The distribution is as follows: Federal Government got
N20.957 billion, states received N69.857 billion, local government
councils got N48.900 billion, while Cost of Collection/Transfer and
Refund was N10.51 billion.
“The distributed statutory revenue of N531.83 billion received for
the month was lower than the N543.788 billion received for the previous
month by N11.958 billion.”
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