By Emmanuel Elebeke, Abuja
The federal government yesterday shared the sum of N675, 650 billion with the States and Local government councils as federal allocation for the month of March, 2013. “The three tiers of government in the country have shared a total of N731, 133 billion as federal allocation for the month of March, 2013.“
A communiqué issued by the Technical Sub-Committee of the Federal Account Allocation Committee, FAAC reveals that the gross revenue of N597,752 billion received for the month was higher than the N539,553 billion received in the previous month by N58.199 billion.
The distributable statutory revenue for the month was N540.754 billion.
Also distributed was the sum of N7.617 billion refunded by the Nigerian National Petroleum Corporation, NNPC and the sum of N35.549 billion proposed for distribution under the SURE-P programme.
The augmentation of N134.896 billion brought the total revenue distributed for the current month including value added tax, VAT to N675.650 billion.
According to the communiqué, gross revenue of N597.752 billion was received for the month. This was higher than the N539, 553 billion received in the previous month by N58.199 billion due partly to the receipt of arrears of sales of crude oil and gas.“
For the month of November, 2013, the gross revenue available from the value added tax, VAT, was N91.730billion as against N66.346 distributed in the preceding month, resulting in an increase of N25.384 billion.
Out of the total of N597.752 billion original distributable revenue, N490.765 billion was mineral revenue, while N106.987 billion was non-mineral revenue.
A breakdown of the distribution showed that for the month of November, the Federal government got N252.239 billion (52.68%) as against N213.825 billion received for the month of October.
The State governments shared a total of N127.939 billion (26.72%) as against N108.455 billion received for the previous month.
The Local governments shared N98.636 billion (20.60%) against N83.614 billion received for October.“The oil producing states shared the sum of N56,390 billion as 13% derivation revenue for the month of November as against N47.112 billion collected for October 2013”.