The Federal Government, state and local governments, shared a total of N559 billion as revenue accruals into the Federation Account and proceeds from Value Added Tax in the month of June picked up significantly.
Mrs Kemi Adeosun, the Minister of Finance, who disclosed this at the end of the Federation Account Allocation Committee, FAAC, meeting in Abuja, said all tiers of government were glad that the revenue was looking upward.
This month’s net distribution was N 263. 904 billion above last month’s N305.128 billion.
The Federal Government got a total of N209.460 billion; states N133.671 billion; while local governments received N100.759 billion.
The nine oil producing states got extra N 18 billion as 13 per cent derivation from oil revenue
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