The Federation Accounts Allocation Committee has shared N 606. 196 billion to the three tiers of government for the month of April.
According to IgbereTV reports, the Director of Information in the Ministry of Finance , Budget and National Planning , Mr Hassan Dodo, made this known in a statement in Abuja on Friday.
Dodo revealed that the virtual meeting, which was chaired by the Permanent Secretary in the ministry, Dr Mahmoud Isa – Dutse.
He said the amount shared included Value Added Tax , Exchange Gain, Solid Mineral Revenue, Excess Bank Charges, and Excess Oil Revenue.
He explained that the Federal Government received N169. 831 billion, the states got N86.140 billion while the local government councils had N 66.411 billion and the oil – producing states received N 32. 895 billion as 13 per cent derivation.
He further revealed that the cost of collection of Federal Inland Revenue Service Refund and Allocation to North East Development Commission and Transfer to Excess Oil Revenue was N 15.134 billion.
“The Gross Revenue available from the VAT for April 2020 was N 94. 495 billion as against the N 120. 268 billion distributed in the preceding month of March, resulting in a decrease of N 25. 772 billion.”
“The distribution is as follows; Federal Government got N13.182 billion, the States received N 43. 941 billion, Local Government Councils took N 30.758 billon.”
“The distributed Statutory Revenue of N 370. 411billion received for the month was lower than the N597 .676 billion received for the previous month by N 227. 265 billion ,” he stated.
He disclosed that Petroleum Profit Tax, Companies Income Tax, Import and Export Duties, Oil and VAT, all declined.
