The federal, state and local government areas have shared N415.730 billion for the month of May, the Accountant General, Ahmed Idris had disclosed.
Giving the breakdown, the AGF stated have N177,000 billion was realized from mineral, while non mineral revenue was N96,410billion.
According to him, net statutory allocation was shared according to the
sharing formular of 52.68%, 26.72%, and 20.60% to the Federal, state and local government respectively.
Federal government got N124,444billion, state government got N63,119billion and local government N48,662billion.
Value Added Tax available for distribution was N122,919billion shared according to the sharing formula of 15%, 50% and 35% for Federal, state and local government respectively.
Idris also noted that there was significant increase in export sales revenue by about $63.69million due to increase in the average unit of crude oil from $52.86 per barrel and a rise in crude oil export volume by 1.07 million barrels.
Fieding questions from journalists, the AGF said “there is improvement in price of goods, the picture of the future is bright; generally we are getting better in terms of revenues, next succeeding months we hope to see better things. The economy is getting better.”
The chairman commissioners Forum, Mahmood Yunusa indicating
assurance of revenue improvement said “even though there had been a decrease in the revenue accruing to states, there is assurance that the next months’ figure will go up.”
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