FG, States, LGs Share N700bn In September

The sum of N700.235bn has been shared between the three tiers of government by the Federation Account Allocation Committee as federation allocation for the month of September 2022.

The amount disbursed to the tiers of government was inclusive of Gross Statutory Revenue, Value Added Tax, and Electonic Money Transfer Levy. From the allocation, Federal Government received N262.636bn, the states received N217.191bn, the Local Government Councils got N160.416bn, while the oil-producing states received N59.992bn as derivation, (13 per cent of mineral revenue). The Federation Account Allocation Committee in a statement released at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax for September 2022 was N189.928bn which is a decrease distributed in the preceding month. The distribution is as follows; Federal Government got N28.489bn, the states received N94.964bn, Local Government councils got N66.475bn. Accordingly, the gross statutory revenue of N502.135bn distributed was higher than the sum received in the previous month, from which the Federal Government was allocated the sum of N232.921bn, States got N118.141bn, LGCs got N91.081bn, and Oil Derivation (13 per cent mineral revenue) got N59.992bn.

This article was originally published on Naija News