The Federation Accounts Allocation Committee (FAAC) has shared N605.958 billion as Federation allocation for May, 2021.

From this amount, inclusive cost of collection to NCS, DPR and FIRS, the Federal Government received N242.120 billion, States received N194.195 billion, Local Government councils got N143.742 billion while the oil producing states received N26.901 billion as derivation (13% of Mineral Revenue).

The communique by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated the Gross Revenue available from the Value Added Tax (VAT) for May, 2021 was N181.078 billion as against N176.710 billion distributed in the preceding month of April, 2021, resulting in an increase of N4.368 billion.

The distribution is as follows: Federal Government got N25.260 billion, the States received N84.202 billio and Local Government Councils got N58.941billion.

The distributed Statutory Revenue of N428.198 billion received for the month was lower than the N497.385 billion received for the previous month by N69.197 billion, from which the Federal government received N175.541 billon, States got N89.037 billion, LGCs got N69.644 billion, and Derivation (13% Mineral Revenue) got N24.666 billion.

The communique also revealed that Companies Income Tax (CIT) and Oil and Gas Royalties, Import and Excise Duty recorded decreases. Only Value Added Tax (VAT) increased, although, marginally.

The communique however disclosed that total revenue distributable for the current month inclusive of Gross Statutory Revenue of N357.888 billion, Value Added Tax (VAT) of N168.403 billion, Solid Mineral Revenue of N7.940 billion, Exchange Gain of N1.727 billion and an augmentation from Non-Oil of N50 billion and N20 billion bringing the total distributable revenue to N605.958 billion.

https://www.financialwatchngr.com/2021/06/24/faac-may-2021-fg-states-lgas-share-n605-958-billion/

Mynd44, OAM4J

Nigeria is meant to be a 'regally-dressed elephant' but our leaders' lack of vision and conservative sense have made us a 'naked ant'.

STOP SHARING CRUMBS.

Restructure Nigeria to unleash the massive economic potentials in geopolitical zones and watch Nigeria prosper and become world economic power.

Wow...
Apc is looting Nigeria heartlessly... imagine whooping bullion being looted in the name of sharing..

From May...
now reason your environment and know if there’s and new development in whatever form ... to show for this ..
even if Na 100.000 worth of development... in any form.

.... and Buhari is fighting corruption.

... am holding Apc government of Buhari and osibanjo for this.. becaUse they are fighting corruption.
No excuses


And soon by September another wowing billions will be release

Restructure Nigeria .. and all this stories will end.
... like the North always say... restructuring get means different thing to different Nigerians

That reminds me.

All those "embezzled" funds Buhari's government claimed to retreive self, God knows what was done with them.