The government, states and local governments share a revenue allocation of Rp1.35 trillion for June.

The three tiers of government on Tuesday shared the revenue allocation of N1.35 trillion for June.

The figure is N150 million higher than the N1.2 trillion distributed by the federal, state and local governments in May.

Director of Information and Public Relations in the Ministry of Finance, Mohammed Manga, who disclosed this in a communique issued at the end of the Federation Account Allocation Committee (FAAC) meeting in Abuja, said the Federal Government received N459.7 billion, states got N461.9 billion, local government councils collected N337.019 billion.

But he was tight-lipped on whether local councils run by interim committees received any statutory allocations.

The Supreme Court last week granted autonomy to 774 local governments in the country.

However, the supreme court ordered the federal government to withhold revenue allocations to local government areas without elected officials.

The communique read: “The Federation Account Allocation Committee, at its meeting in July 2024 chaired by the Minister of Finance and Coordinating Minister for Economic Affairs, Wale Edun, distributed a total of N1.35 trillion to the three tiers of government as Federation Allocation with a gross total of N2.48 trillion.

“Of the amount mentioned including Gross State Revenue, Value Added Tax, Electronic Money Transfer Levy, Exchange Difference and Addition of N200 Billion, the Federal Government received N459.776 billion, states received N461.979 billion, Local Government Councils received N337.019 billion while Oil Producing States received N95.598 Billion as Derivation, (13 per cent from Mineral Revenue).

“The Gross Revenue available from Value Added Tax for the month of June 2024 was N562.685 billion compared to N497.66 billion distributed in the previous month, increasing to N65.020 billion.

“Of that amount, Rp22.507 billion was allocated for collection costs and Rp16.205 billion was given for transfers, interventions, and refunds.

“The remaining N523.973 billion was distributed to the three tiers of government, of which the Federal Government received N78.596 billion, States received N261.987 billion and Local Government Councils received N183.39 billion.”

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