FG, States and Local Govts Shared N616.87bn April 2021

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CBN

Olusola Bello

Federal, States and Local Governments share a total of N616.87bn April 2021

The Office of Accountant General of the Federation disclosed that the shared revenue was contained in a communiqué issued by FAAC after its monthly meeting for April 2021 held through virtual conferencing.

This was revealed in statement signed by the Director, Information, Press and Public Relations, OAGF, Henshaw Ogubike,  issued in Abuja on Friday.

The statement was titled ‘FAAC shares N616.87bn April 2021 revenue to FG, states and LGs’.

According to the statement, the gross statutory revenue for April was N429.73bn, the gross revenue from the Value Added Tax was N164.34bn and revenue from the exchange gain amounted to N2.25bn.

The OAGF also said that the excess bank charges recovered was N0.56bn, while revenue from non-oil was N20bn, bringing the total gross revenue to N616.87bn.

The statement read in part, “In April 2021, the sum of N79.47bn was the total deductions for cost of collection, statutory transfers and refunds.

“The balance in the Excess Crude Account was $ 72.41m.”

The communiqué indicated that from the total revenue, the Federal Government received N244.01bn, while the state and local government councils received N193.43bn and N143.29bn respectively.

It added that oil producing states received the sum of N36.15bn as 13 per cent derivation revenue.

The statement also noted that from the gross statutory revenue, N207.48bn was given to the FG, the state governments received N105.24bn and the local government councils received N81.13bn.

The statement said, “The sum of N35.89bn was given to the relevant states as 13 per cent derivation revenue. 0.53bn, the local government councils received N0.41bn and N255m was given to the relevant states as 13 derivation revenue form the from the exchange gain revenue

The communiqué confirmed that the FG received N1.05bn, the state governments receive N0.53bn

 

“The Federal Government received N24.65bn from the gross Value Added Tax revenue of N164.34bn, the state governments received N82.17bn and local government councils received N57.52bn.”

The communiqué confirmed that the FG received N1.05bn, the state governments receive N0.53bn, the local government councils received N0.41bn and N255m was given to the relevant states as 13 derivation revenue form the from the exchange gain revenue.

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