Nigeria Shares N616bn Among Federal, States, LGs For April 2019

By Femi Adeoya

A total of N616.19 billion was on Tuesday distributed as Federal Allocation for the month of April, 2019 among the three-tiers of government, consisting the federal, state and local governments.

According to a communique issued by the Technical sub -Committee of Federation Account Allocation Committee (FAAC) released at the end of meeting in Abuja, and signed by the Acting Accountant-General of the Federation, Mohammed Usman, the Gross statutory revenue received for the reference month was N518.91billion, which is N72.26bn higher than the N446.64bn received in the previous month of March.

According to the statement, evenues from Petroleum Profit Tax, Import Duty and Companies Income Tax recorded significant increases during the period, while Oil Royalty and Export Duty decreased substantially, while Value Added Tax rose marginally during the period.

READ ON: https://skytrendnews.com/2019/05/21/nigeria-shares-n616bn-among-federal-states-lgs-for-april-2019/