Federal, State, Local Gov’ts Share N1.143trn May Revenue

Federation Accounts Allocation Committee has shared the sum of ₦1.143 trillion to the three tiers of government.
In a communique issued at the end of the committee’s meeting in Abuja yesterday’s evening, indicated that the funds were from the month of May Federation Accounts revenue which stood at ₦2.324 trillion.
The communiqué showed that the ₦1.143 trillion total distributable revenue comprised distributable statutory revenue of ₦157.183 billion, distributable Value Added Tax (VAT) revenue of ₦463.425 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦15.146 billion and Exchange Difference revenue of ₦507.456 billion.
Report revealed that, the Federal Government received a total sum of ₦365.813 billion, the State Governments received the sum of ₦388.419 billion, while the Local Government Councils received a total of ₦282.476 billion.