The balance in the Excess Crude Account (ECA) as of January 17th, 2023, stands at $473,754, details show.
has shared a total of N990 billion as December 2022 federation revenue to the federal, state and local government councils and other relevant agencies in the country.
The federal government received N375.306 billion, the states received N299.557 billion, the local government councils got N221.807 billion, while the oil-producing states received N93.519 billion as derivation . The communiqué indicated that the gross revenue available from the VAT for the month was N250 billion. From this amount, N7.2 billion was allocated to the NEDC Project and N10 billion to the cost of collection to FIRS and NCS remaining N233.277 billion which was distributed to Federal Government , the States , and the Local Government Councils .
“From this amount, the sum of N31.531 billion was giving to Cost of Collection and a total sum of N396.896 billion to Transfers, Savings and Refunds remaining the balance of N707.756 billion which was distributed as follows; Federal Government was allocated the sum of N325.105 billion, States got N165.897 billion, LGCs got N127.129 billion, and Oil Derivation got N90.625 billion.
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