(http://fmi.gov.ng/wp-content/uploads/2011/11/coat-of-arms2.gif) The three tiers of Government in the country have shared a total of N721.505 Billion as federation allocations for the month of April, 2013. The total federation allocation for the month of March, 2013 was N731.133 Billion.
A breakdown of the distribution shows that the Federal Government received N246.690 billion (52.68%) as against 232.529 billion received in March. The States received N125.124 billion (26.72%) as against N117.942 billion received in March. The Local governments received N96.466 billion (20.67%) as against the N90.928 billion received in March.
The Oil producing States got the sum of N59.152 billion as 13% derivation for the month as against the N55.008 billion they got in March.
A communiqué issued by the Technical Sub-Committee of the Federal Account Allocation Committee shows that the distributable statutory revenue for the month of April 2013 was N531.332 Billion. There was augmentation of N92.436 Billion which brought the total statutory revenue to N623.768 Billion.
According to the communiqué, the sum of N7.617 Billion refunded by the NNPC and the N35.549 billion from the SURE-P; made up the total amount distributed to the three tiers of government.
The communiqué stated further that the gross revenue of N621.070 Billion received for the month was higher than the N595.708 Billion received in the previous month by N25.362 Billion. It said this was due to the increased earnings from domestic crude and petroleum profit tax, although the challenges of production and lifting operations experienced in the previous month persisted.
For the month for April, the gross revenue available from the Value Added Tax (VAT) was N54.571 billion as against N64.199 Billion distributed in the preceding month, resulting in a decrease of N9.628 Billion.
Print PDF
Federal Ministry of Information (FMI) Nigeria