Three Tiers Of Government Share N769.5bn Revenue For Month Of July

Federal, states and local governments have shared revenue totalling n769.5 billion as their statutory allocation from the federation account, for the month of July.

Breakdown of the allocation, shows that federal government receives n299.79 billion, 36 state governments (n190.38 billion), and 774 local governments (n143.56 billion).

Oil producing states receive additional n42.8 billion, while revenue collecting agencies, including Federal Inland Revenue Service and Nigerian Customs Service got n92.85 billion.

Director of Funds in the Office of the Accountant General of the Federation, Mohammed Usman, announces this to newsmen, at the end of the monthly meeting of the federation account allocation committee in Abuja.

Usman explains that the gross statutory revenue received for the month was n674.3 billion, higher than n652.9 billion in June.

Other revenue, included n94.15 billion from the value added tax, and n999 million from foreign exchange differential.

 READ ALSO: Five Killed, 21 Injured In Stampede At Algeria’s Rap Concert

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