Showing posts with the label Revenue

Revenue: 1.41trn Shared in the first quarter to FG, States and LGs, Akwa Ibom, Rivers, Bayelsa Got The Highest

The Federal Government, the 36 states and their local government areas have so far shared N1.4tn from the federation account, being revenue generated in the first quarter of 2017. The breakdown is contained in the monthly Federation Account Allocation Committee report obtained on Sunday in Abuja. The key agencies that remit funds into the federation account are the Nigerian National Petroleum Corporation, the Federal Inland Revenue Service and the Nigerian Customs Service. The total revenue shared in January between the federal, states and local government was N430.16bn, meaning that federal took N168bn, states, N114.28bn and local government, N85.4bn. The federation grossed in N514bn in February and federal government’s share was N200.6bn, states, N128.4bn and local government, N96.52bn. However, in March, revenue generation dipped lower, grossing N466.9bn, and from it, the federal government got N180.5bn, state governments, N116.5bn and local government, N87.5bn. The allocation