FG, State & Local Governments share six hundred and ninety-three point five-two-nine billion Naira in September
Written by COMFORT 95.1FM on October 18, 2019
A total of six hundred and ninety-three point five-two-nine billion naira has been shared to the three tiers of government for the month of September 2019.
The fund shared by the Federation Account Allocation Committee in Abuja, comprised revenue from Value Added Tax, Exchange Gain and Gross Statutory Revenue in the month.
A communiqué read by the Accountant General of the Federation, Ahmed Idris, confirmed that the gross statutory revenue for the month of September was five hundred and ninety-nine point seven billion naira, less than the amount realized in August by thirty-two point zero-nine billion naira.
A breakdown of the September allocation showed that from the total revenue shared, the Federal Government received two hundred and ninety-three point eight billion naira; States, one hundred and eighty-six point eight-two, while the Local Government Councils got one hundred and forty point eight-six billion naira.
The Oil Producing States shared fifty-one point five billion as thirteen percent derivation, while the Revenue Generating Agencies received twenty point five-two billion naira as the cost of revenue collection.