FEDERAL GOVERNMENT SHARES N616.19 BILLION FOR STATES

The Accountant-General, represented by the Director of Funds, Office of the Accountant General of the Federation, Mohammed Usman, while giving a breakdown of the revenue accrued in April,  said the mineral revenue increased by N56.8 billion, moving from N308.44 billion in March to N365.24 billion in April.

Penpushing further reports that the Accountant General in addition, said the non-mineral revenue increased by N15.46 billion that is from N138.2 billion in March to N153.66 billion in April.

He added, “The gross statutory revenue of N518.91 billion received for the month is higher than the N446.64 billion received in the previous month by N72.26 billion. Revenues from Petroleum Profit Tax (PPT), import duty and Companies Income Tax recorded significant increases while Oil Royalty and Export duty decreased substantially. Value Added Tax also increased marginally from N88.49 billion in March to N92.72 billion in April,” he said.

Penpushing also reports that, in summary, Idris said the Federal Government received N239.65 billion, States got N121.55 billion and Local Governments received N93.71 billion, and in the same vein  N46.25 billion, representing 13 per cent of the mineral revenue was shared to oil producing states.

Meanwhile the Accountant General said as at May 21, the money left in the Excess Crude Account (ECA) was $144 million.