FG, states, LGs share N389.9bn for Sept

Daily Trust - - FRONT PAGE -

The Per­ma­nent Sec­re­tary, Min­istry of Fi­nance, Mrs Anas­ta­sia Nwao­bia, yes­ter­day said that N389.9 bil­lion was shared among the fed­eral, states and lo­cal gov­ern­ments as rev­enue for Septem­ber 2015.

Nwao­bia an­nounced this in Abuja when she ad­dressed news­men on the out­come of the Fed­er­a­tion Ac­counts Al­lo­ca­tion Com­mit­tee (FAAC) meet­ing.

She said that the shared amount com­prised the month’s net statu­tory rev­enue of N321.9 bil­lion.

Nwao­bia said N6.3 bil­lion was re­funded to the fed­er­a­tion by Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC) and was also pro­posed for shar­ing.

The News Agency of Nige­ria (NAN) re­called that N422.6 bil­lion was shared to the three tiers of gov­ern­ment as rev­enue for the pre­ced­ing month.

This shows a dif­fer­ence of N52.6 bil­lion be­tween the two months.

Giv­ing the breakdown of rev­enue among the three tiers, Nwao­bia said the Fed­eral Gov­ern­ment re­ceived N151.3 bil­lion, rep­re­sent­ing 52.68 per cent; states, N76.8 bil­lion, rep­re­sent­ing 26.72 per cent.

The lo­cal gov­ern­ments re­ceived N59.1 bil­lion, amount­ing to 20.60 per cent of the amount dis­trib­uted.

Nwao­bia an­nounced that N27.5 bil­lion, rep­re­sent­ing 13 per cent deriva­tion rev­enue was shared among the oil pro­duc­ing states.

On VAT, She said that the N62.1 bil­lion col­lected for the month showed a de­crease of N12.7 bil­lion from the pre­ced­ing month.

She said that the coun­try gen­er­ated N213.1 bil­lion as min­eral rev­enue and N108.8 bil­lion as non-min­eral rev­enue.

This shows a de­crease of N2.8 bil­lion and N44.2 bil­lion from what the coun­try gen­er­ated as min­eral and non-min­eral rev­enue in the pre­ced­ing month.

She puts the bal­ance in the Ex­cess Crude Ac­count as at yes­ter­day, at $2.25 bil­lion, which showed that noth­ing had been re­moved or added to it since July.

On states bailout, Nwao­bia said that it was not meant to solve all states’ prob­lems but to give them some re­lief, to en­able them to set­tle the salaries of their work­ers.

PHOTO AB­DUL-HAMEED OYEG­BADE

The Ooni-elect, Prince Adey­eye Ogun­wusi on his ar­rival at Ife, Osun State yes­ter­day.

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