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