FG, States, LGAs share N626.82bn in April

The three tiers of government on Thursday shared N626.82 billion as monthly allocations for April.

This represents statutory allocation, Value Added Tax (VAT) and foreign exchange equalization for the month.

Addressing journalists at the end of the rescheduled Federation Account Allocation Committee (FAAC) meeting, the Accountant-General of the Federation, Ahmed Idris, said the figure was N20 billion lower than the N647.39 billion shared by the three tiers of government in March.

Speaking on Wednesday’s postponement of the meeting, the AGF said FAAC members rejected the revenue figures declared by the Nigerian National Petroleum Corporation (NNPC).

He said there was ongoing reconciliation of the Corporation’s revenue figures for February.

Idris also disclosed that the Excess Crude Account (ECA) dipped from $2.3 billion to $1.830 billion after $496 million had been withdrawn for the purchase of Tucano military jets from United States.

At the end of the meeting, the Federal Government received N263.102 billion, while state governments went home with N167.511 billion and local government councils got N126.293 billion.

N54.518 billion was shared as 13 per cent mineral revenue to oil producing states, while N15.402 billion was given to Federal Inland Revenue Service (FIRS).





Be the first to comment

Leave a Reply

Your email address will not be published.