The Federation Accounts Allocation Committee has shared a total of N651.
18bn as June 2020 federation account revenue to the federal and states and local governments, as well as other relevant agencies in Nigeria.
The Director, Information, Press and Public Relations, OAGF, Henshaw Ogubike, said in a statement issued in Abuja on Sunday that the meeting was chaired by the Accountant-General of the Federation, Ahmed Idris.The OAGF said the gross statutory revenue available in June 2020 was N524.526bn, gross revenue from the Value Added Tax was N128.826bn and revenue from the exchange gain was N42.832bn.
Also, the gross revenue of N128.826bn available from VAT was higher than the N103.873bn in the previous month by N24.953bn. The oil producing states received N28.496bn as 13 per cent derivation revenue, while N76.809bn was given to revenue/relevant agencies.
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