ALLOCATION: Three Tiers of Government Share N281.5bn for April

The three tiers of government, federal, state and local governments, have shared revenue totaling N281.5 billion for the month of April from the federation account.

The revenue shared is N18.2 billion lower than N299.7 billion they received for the month of March.

Finance Minister, Kemi Adeosun, announcing the revenue profile to newsmen in Abuja at the end of the monthly meeting of the federation account allocation committee, blamed the sharp drop on the shutdown of pipelines and oil export terminal for maintenance.

From the distributable statutory revenue, the federal government received N101.2 billion, 36 state governments (N51.3 billion), 744 local governments (N39.5 billion), while oil producing states got N15.7 billion as 13 per cent derivation.

Also from the value-added-tax revenue, the federal government received N9.30 billion; state governments (N31.3 billion), while local governments collected N21.9 billion.

They also shared NNPC refund of n6.3 billion, and N2.4 billion from the gains realized from the foreign exchange.

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