The total sum of ₦652 billion was shared among the
Federal Government, States and Local
Governments in the month of July. The allocation shared yesterday was the highest so far since 2014.
The Accountant General of
the Federation, Mr Ahmed Idris said in Abuja on
Tuesday, that the figure
comprised of both mineral and non-mineral
revenue.
He said that the gross statutory revenue of
₦570.5 billion received for the month of June
was more than the ₦317.5 billion in the previous
month by ₦253 billion.
According to him, the gross revenue available from
Value Added Tax (VAT) was ₦81.6 billion as
against ₦79.9 billion distributed in May,
indicating an increase of ₦1.6 billion.
He said the Excess Crude Account (ECA)
stood at 2.303 billion dollars while the
Petroleum Profit Tax (PPT) was 68 million
dollars.
The non-mineral revenue increased by ₦181.2 billion from ₦157.5 billion in May to ₦338.8 billion in June.
The breakdown on what was distributed
to the three tiers of government revealed that the
Federal Government got ₦286.5 billion, States ₦178.6 billion and Local Governments got
₦134.9 billion.
Idris also said ₦29.8 billion was shared to oil
producing states as their 13 per cent derivation
for the month, while cost of collection and
Federal Inland Revenue Service (FIRS) refund
stood at ₦22.1 billion.
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