The Federation Accounts Allocation Committee (FAAC), disbursed the sum of N616.886 billion to the Federal, States and Local Governments for the month of April.
This was made known by the at the Office of Accountant General of the Federation (OAGF, Director of Information, Press and Public Relations, Henshaw Ogubike, on Friday.
The Federal Government received the biggest share totalling N244.011 billion, followed by the 36 states which summed up to N193.432 billion, while Local Government Councils received N143.298 billion.
The FAAC allocation for May dropped by N63.45 billion when compared to disbursements for revenue accrued in March.
A surge in revenue in March, saw the disbursement of N680.33 billion three tiers of government in April.
In March, gross statutory revenue was N466.687 billion, value-added tax revenue was N181.712 billion and exchange gain was N2.931 billion.
READ ALSO: New System Will ‘Automatically’ Capture IMEI Without Requirement From Subscribers – NCC
However, based on the statement, gross statutory revenue dropped to N429.733 billion in April.
Revenue from the value-added tax equally slipped to N164.340 billion, also revenue from the exchange gain shrank to N2.250 billion.
The OAGF said the excess bank charges recovered was N0.563 billion, while revenue from non-oil was N20 billion.
For non-oil revenue, the federal government received N10.536 billion, the state government got N5.344 billion and the local governments was allocated N4.120 billion.
“In April 2021, the sum of N79.468 billion was the total deductions for cost of collection, statutory transfers and refunds,” the statement reads.
“The balance in the Excess Crude Account was $72.413 million.”
Oil-producing states got the N36.145 billion as 13 percent derivation revenue.
The statement also noted that from the gross statutory revenue, N207.477 billion was given to the federal government, the state governments received N105.235 billion while the local government councils received N81.132 billion.
“The Federal Government received N24.651 billion from the gross Value Added Tax (VAT) revenue of N164.340 billion, the state governments received N82.171billion and local government councils received N57.519 billion,” it reads.
The statement added that the federal government received N1.051 billion, the state governments receive N0.533 billion, the local government councils received N0.411 billion and N0.255 billion was given to the relevant states as 13 percent derivation revenue from the exchange gain revenue.
It added that petroleum profit tax and excise duty recorded a significant increase, while companies income tax, oil and gas royalties, VAT and import duty suffered a decline.
, disbursed the sum of N616.886 billion to the Federal, States and Local Governments...){kind=link}