By Caleb Ayansina
ABUJA—Federal Government and the two other tiers of government, yesterday, shared N564 billion from the Federation Account and proceeds from the Value Added Tax, VAT, earned in July, which will be used for August expenditure.
A total of N825 billion accrued into the Statutory Account as gross revenue, but only N458.670 billion was available for distribution among the three tiers of government, while N53.910 was earned from VAT.
The table of distribution showed that Federal Government took N217.770 billion from the statutory revenue and N7.763 billion from VAT proceeds.
States got N110.456 billion from the federal account and another N25.877 billion from VAT, while the local governments were allocated N85.157 billion from the federation account and N18.114 billion from VAT.
The nine oil-producing states received an additional NN45.287 billion as 13 percent oil revenue derivation.
Vanguard Nigeria