Follow Us on Google
From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS). yesterday, said that the Federation Account Allocation Committee (FAAC) disbursed the sum of N872.55 billion to the three tiers of government in April 2023 from the total revenue generated in March 2023.
According to the agency, the amount disbursed comprised N638.67 billon from the Statutory Account, N15.09 billion from Electronic Money Transfer Levy (EMTL) and N218.79 billion from Valued Added Tax (VAT).
While the Federal Government received a total of N276.14 billon from the N872.55 billion, states and local governments received a total of N232.13 billion and N171.26 billion respectively.
The sum of N35.10 billion was shared among the oil-producing states from the 13 per cent derivation fund.
The revenue generating agencies comprising Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received N9.03billion, N13.81billion, and N4.61billion respectively as cost of revenue collections.
