The federal, states and local governments have shared
N1.25 trillion from the Federation Account for August and September, Minister
of State for Finance, Dr Yerima Ngama, said in Abuja on Friday.
Ngama made this known to newsmen at
the end of the Federation Accounts Allocation Committee (FAAC) meeting for
September.
A breakdown of the amount showed that
the Federal Government received N236.15 billion, state governments N119.78
billion while local governments got N92.34 billion for September.
For August, the Federal Government
received N248.27 billion, state governments N125.92 billion and local
governments N97.08 billion.
The minister said the country
received N431.07 billion revenue from mineral resources in September, compared
with N424.61 billion in the previous month, representing an increase of N6.4
billion.
Similarly, non-mineral revenue in
September amounted to N94.53 billion compared with N123.78 billion in August,
representing a decline of N29.2 billion.
According to the minister, no fund
was proposed as augmentation during the months under review because of
moratorium placed by FAAC members.
The minister recalled that FAAC
members reached a decision only to distribute actual and not budgeted revenue.
A breakdown of the distributable
figures provided by the minister showed that the statutory allocation
distributed to the three tiers of government in September was N507.22 billion,
compared with N530.12 billion in August.
On the distribution of revenue from
the Value Added Tax (VAT), Ngama said the total revenue for September was N63.9
billion, compared with N69 billion in August.
The total revenue shared by the three
tiers of government for the months also included refunds by the Nigeria
National Petroleum Corporation (NNPC) and savings from partial subsidy removal.
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