The Federation Accounts Allocation Committee says it shared N547.309bn to the three tiers of government in May.
The Director of Information in the Ministry of Finance, Budget and National Planning, Hassan Dodo, disclosed this in a statement.
He explained that from the allocation, which included Value Added Tax, Exchange Gain and Excess Bank Charges recovered, the federal government received N219.799bn, states got N152.436bn and local councils received N114.095bn.
He added that oil-producing states received N37.021bn for 13 percent derivation fund.
According to the statement, the cost of collection of Federal Inland Revenue Fund Refund Allocation to North East Development Commission was N23.958bn.
Dodo, while quoting the communique issued at the end of a recent FAAC meeting, said: “The gross revenue available from the VAT for May was N103.873bn against N94.498bn distributed in the preceding month of April resulting in an increase of N9.377bn.
“The distribution is as follows federal government got N14.490bn, the states received N48.301bn, local government councils had N33.811bn, while derivation got N0.000 and cost of collection and FIRS Refund/Allocation to NEDC got N7.271bn.
“The distributed Statutory Revenue of N413.953bn received for the month was higher than the N370.411bn received for the previous month by N43.542bn, which the federal government got N191.580bn, states received N97.172bn and local governments got N74.915bn.
“Derivation got N33.599bn and Cost of Collection was N16.687bn.”
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