A total of N684.897 billion has been shared to the three tiers of government in the country as federalallocation for the month of June, 2014. The current revenue is N0.999billion more than the N683.899 billion shared to the three tiers of government for the month of May 2014.The distributable statutory revenue for June was N582.934 billion. The gross revenue available from the Value Added Tax (VAT) was N66.414billion. This was N0.999 billion higher than the N65.415 billion available in the previous month. The sum of N35.549 from the SURE-P and N71.049 billion from excess non-oil revenue, were also proposed for distribution.A communiqué issued by the FederalAccounts Allocation Committee (FAAC) indicated that the federal government got a total of N 270.144 billion (52.68%) as against the N267.478 billion in May. The state governments got N137.020 billion (26.72%) as against the N 135.668 billion they got in May.The Local Governments were given N105.637 billion (20.60%) as againstN104.595 billion in May. For the month of June, the oil producing states got N57.899 billion as 13% derivation revenue compared to the N60.085 billion they got in the preceding month.The communiqué indicated that the gross revenue of N784.886 was received for the month. This was lower than the N844.032 billion received in the previous month by N59.146 billion.Ubong SimeonFor: Director (Press)Federal Ministry of Finance
Link: http://prnigeria.com/2014/07/fg-states-lgs-share-n684-897b-june-2014-federation-revenue/

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