FG, States, LGs Share N617.5bn March Allocation via thisdaylive
A total of N617.566 billion was Tuesday distributed as Federal Allocation for the month of March, 2019 among the three-tiers of government, comprising the federal, state and local governments.
In the same vein, the revenue generated from the Value Added Tax was N92.181billion. This is a decrease from the N96.389 billion generated from previous month, with N4.208 billion. There was also N653m from Exchange Gain, N13.085 billion from Forex Equalization; N55.000 billion from Good & Valuable Consideration as well as N10.000 billion added by NNPC. These therefore, brought the total revenue distributable for the current month to the sum of N617.566 billion.
The communique also showed the breakdown of allocation from the Statutory revenue generated as thus: Federal Government N208.394 billion representing 52.68%; States Government N105.700 billion, Local Government Council received N81.490 billion.
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