Three Tiers Of Govt Share N681bn In June

Planned Retrenchment By Banks

 

The three tiers of government has shared revenue totalling N681.1 billion  as allocation from the federation account for the month of june

The amount is higher than n547.3 billion shared in the month of may

Director of information, press and information in finance ministry, henshaw ogbuike in a statement on sunday, says the revenue was shared at the meeting of federation account allocation committee last friday

According to him, from the gross statutory revenue of n524.5 billion, federal government recieved n266.1 billion, state governments (n185.7 billion), local governments (138.9 billion) 13 per cent derivation (n28.4 billion), while revenue collecting agencies got n76.8 billion

From the gross value added tax revenue, federal government got n17.9 billion, state governments (n59.9 billion), local governments (n4.9 billion), while revenue generating agencies recieved n5.1 billion

Also from the gross foreign exchange gain revenue, federal government recieved n20.5 billion, state governments (n10.4 billion) local governments (n8.04 billion), 13 per cent derivation (n3.7 billion)

N45 billion was transferred to the excess crude account raising the fund in the account to $72.4 million

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