The Minister of Finance, Mrs Kemi Adeosun, on Tuesday, January 26, disclosed that the federal, states and local governments shared N387.8 billion as revenue for December, 2015.
The Minister, who was represented by the Ministry of Finance Permanent Secretary, Mr Mahmoud Isa-Dutse, said this in Abuja while speaking to news men on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting.
According to her, the shared fund comprised the month’s statutory revenue of N315 billion.
She said: “Also, there is the exchange gain of N4.5 billion which is proposed for distribution. Adeosun also said that the money shared included the N6.3 billion that was refunded to the federation account by Nigerian National Petroleum Corporation (NNPC).
“Therefore the total revenue distributable for the month of December, including VAT of N62 billion, is N387.8 billion.”
It would be recalled that N369.9 billion was shared to the three tiers of government as revenue for the month of November.
“This month’s allocation shows an increase of N17.9 billion. Giving the breakdown of revenue among the three tiers of government”, Adeosun said; adding that “the Federal Government received N147.5 billion, representing 52.68 per cent while states got N74.8 billion, representing 26.72 per cent.”
She continued: “The local governments received N57.7 billion, amounting to 20.60 per cent of the amount distributed – N42.05 billion, representing 13 per cent derivation revenue was shared among the oil producing states.”
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