FG, States, LGs share N581.498 billion

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By Emmanuel Elebeke

Abuja – The three tiers of government in the country have shared N581.498 billion as allocation for the month of December, 2013.

A communiqué issued by the Technical Sub-Committee of the Federal Account Allocation Committee, FAAC shows that the distributable revenue for the month was N538,332 billion against N702,541 budgeted for the month and N675,650 billion distributed last month.

This comprised N473,607 billion and N64,725 billion from statutory and Value Added Tax, VAT respectively. The communiqué indicated that there was no augmentation for the month.

Also distributed for the month was N7,617 billion refunded by NNPC and the sum of N35,549 billion from SURE-P from the Subsidy Reinvestment and Empowerment Programme, SURE-P.

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