WED, 27 JULY, 2022-theGBJournal| The federal, state and local governments shared N802.407bn as federation allocation for the month of June, 2022, representing an 18% increase from N681bn shared in May.
The Federal Government received N321.859 billion from the inclusive of Gross Statutory Revenue and Value Added Tax (VAT) while the State governments received N245.418 billion, the Local Government Councils got N182.330 billion, and the Oil producing states received N52.799 billion as derivation, (13% of Mineral Revenue), according to a statement by the Director of Press/Information, Federal Ministry of Finance, Budget and National Planning, Mrs Phil Abiamuwe-Mowete.
The communiqué issued by the Federation Account Allocation Committee (FAAC) at the end of their meeting Tuesday indicated that the gross revenue available from the Value Added Tax (VAT) for June 2022 was N193.827 billion.
While the Federal Government got N29.074 billion, states received N96.914 billion as local government councils were given N67.839 billion. Also, the gross statutory revenue of N608.580 billion was distributed, from which the Federal Government was allocated the sum of N292.785 billion.
States got N148.505 billion, while local governments got N114.491 billion. States entitled to oil derivation got N52.799 billion.
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