FAAC Monitor: FG, States and Local governments shared N652.229 billion for June

by Ajadi Daniel

The Federal, State and Local governments shared a total of N652.229 billion as federal allocation for the month of June.

The amount shared comprised the month’s statutory distributable revenue of N570.584 billion and the Value Added Tax of N81.645 billion.

The gross statutory revenue received for the month is N570.584 billion and it’s higher than the 317.562 billion received in the previous month by N253, 022 billion.

The Net Statutory Allocation revealed that the Federal government received N274.893 billion representing (52.68 per cent); states received N139.429 billion (26.72 per cent); while local government councils received N107.494 billion representing (20.60 per cent); while the oil producing states received N29.894 billion as 13 per cent derivation revenue.

From the revenue available from the Value Added Tax (VAT), federal government received N11.757 billion (15 per cent); states received N39.190 billion (50 per cent) while the local government councils received N27.433 billion (35 per cent).

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