Posted by The federal government, the states, and the LGCs were all given a portion of the N1.208 trillion in April income by the Federation Account Allocation Committee (FAAC).
During Thursday’s FAAC meeting in Abuja in May, the funds were distributed.
According to a committee communiqué, out of a total distributable revenue of N1.208 trillion, N284.716 billion came from statutory revenue and N466.457 billion came from Value Added Tax (VAT).
In addition, N438.884 billion came from the Exchange Difference and N18.024 billion came from the Electronic Money Transfer Levy.
According to the communiqué, a total of N2.192 billion was available in April.
N903.479 billion is the sum of all transfers, interventions, and refunds; N80.517 billion is the sum of all collecting costs.
According to the communiqué, N1.233 billion was received in gross statutory income for the month in question. It claimed that this was N216.282 billion more than the total of N1.017 billion received in March.
According to the report, April’s gross revenue available from VAT was N500.920 billion, a decrease of N48.778 billion from March’s total of N549.698 billion.
Governments at the federal, state, and local levels each collected N390.412 billion, N403.403 billion, and N293.816 billion, respectively, out of a total distributable revenue of N1.208 trillion, according to the communiqué.
It stated that the benefited states were shared a total of N120.450 billion, which is 13% of mineral earnings.