The Federation Accounts Allocation Committee shared to the three tiers of government a total of N733.09bn as federation allocation for the month of June.

According to a statement issued by the Ministry of Finance in Abuja on Friday night, this was disclosed a communiqué issued after FAAC’s virtual meeting for July.

The ministry stated that from this amount, the Federal Government received N304.95bn, states received N215.57bn, and Local Governments received N161.10bn.

Oil producing states received N51.47bn as derivation (13 per cent of mineral revenue).

“In June 2021, the sum of N87.46bn was the total deductions for cost of collection, statutory transfers and refunds. The balance in the Excess Crude Account was $60.85m,” the statement added.

It also disclosed that the distributable statutory revenue available for the month was N585.75bn.

The distribution of the sum was as follows: Federal Government; N281.62bn, states; N142.84bn, local governments; N110.12bn while oil producing states were given the sum of N51.15bn as derivation (13 per cent of mineral revenue).

The statement added that the gross revenue of N154.46bn received from Value Added Tax was lower than the N181.07bn received in the previous month.

It noted that the sum of N4.63bn allocation to North East Development Commision and N6.17bn cost of revenue collection was deducted from the gross VAT revenue of N154.46bn, resulting in the distributable VAT revenue of N143.65bn.

From this amount, the Federal Government received N21.54bn, states received N71.82bn while local governments received N50.278bn.

“From the exchange gain revenue of N3.69bn, the Federal Government received N1.78bn, the state governments received N0.9bn, the Local Government Councils received N0.69bn and N311m was given to the relevant states as 13 per cent derivation revenue,” it added.

According to the communiqué, in the month of June, Petroleum Profit Tax, Companies Income Tax, Oil and Gas Royalties, Import and Excise Duty recorded substantial increases while VAT decreased significantly.

https://punchng.com/fg-states-lgs-share-n733-09bn-for-june/?utm_medium=Social&utm_source=Facebook#Echobox=1626492944

In the end people will grow fat tommy with this fund.
Nigeria sorry

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We need restructuring badly

Sharing republic

All the money is apart of the 750 Million Naira security votes for each states. With tens of millions going to each Local Government Chairman, talking about security issue alone.

Y'all should keep shouting Buhari Upandan while your governors, local government chairmen, councilors continue looting your lives and the lives of your unborn kids right in front of you

Truth is not bitter, just that people are bitter to the truth.

Nuff said!

legendgalas:
Hold your governors for poor development not the federal

Don't mind them.
They have been blinded by Hatred and bitterness,
So they can never listen to sane minded individuals like you.
Even if a bench in their village market got broken, it is still Buhari they will be shouting.
Mofos dem.

Thank God for people like you and us and other reasonable and sensible members here,
We will keep telling them the truth,
Because.....

How many people dey for the country self?

Hold your governors for poor development not the federal

Impact is what we need not just figures

Governors will collect the money and fix it for 3months or more as usual before paying workers
While some will collect the money and convert it for their personal use

Damn it...

Odewaleadesoye:


https://punchng.com/fg-states-lgs-share-n733-09bn-for-june/?utm_medium=Social&utm_source=Facebook#Echobox=1626492944

Na dis kind ting dem dey like. To dey share moni upandan

The end is near

But the governors will tell you there is no money on ground. Truth is, this country is a scam, leadership is our greatest problem.
Salaries will take 95% of that money. Nigeria is bankrupt because no leader will take steps to offload the work force by creating enabling environment for entrepreneurs to succeed.
Who needs government job if there is constant power? Food stamps, free or cheap bus to and from work?, Cheap accessible health care.

They know all this but their greed has blind them.

You mean fG state and local govt loot ₦733.04b abi?

It's shocking that this incompetent govt can even see 1.4 billion dollars to share

D

The sharing continues and the backwardness continues..

This sharing model isn't sustainable...like earlier we seek ways to push for true federalism the better for Nigeria..the day this sharing hocus pocus comes to an end without a plan B I hope it doesn't culminate into anarchy..

All governors of your states have been Igbo. None but Igbo has represented you in the National Assembly and all ministers from your states have been you. Is there a ministry in Nigeria which an Igbo man has not headed?

Whereas other Nigerians, especially northerners, find it difficult to own land or landed properties in the South East, major viable towns in both the North and South of the country have your brothers as major landowners. A lot of big businesses and the hospitality sector are Igbo-dominated as well.
Now, what position has Ndigbo not held? Even for the president, has every tribe produced one?

After salaries
Rest will be looted to their various companies under the guise of contracts

4.63 Billion to north east devt commission?
To do what?

Summary of one Nigeria
Sharethemoneycracy

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