A total of eight hundred and twelve point seven-six-two billion naira has been disbursed as Federal Allocation for the month of November 2018 between the Federal, States and Local Government Areas.
The communiqué issued by the Technical Sub-Committee of the Federation Accounts Allocation Committee at the end of its December meeting, in Abuja, indicated that the statutory revenue received in November was six hundred and forty-nine point six-two-nine billion naira.
The sum was lower than the six hundred and eighty-two point one six-one billion naira received in the previous month by thirty-two point five-three-three billion naira.
The breakdown of the total distributable revenue of eighty hundred and twelve point seven-six-two billion naira, comprised the Statutory Revenue of six hundred and forty-nine point six-two-nine billion naira, Gross Value Added Tax of ninety-two point zero seven-nine billion naira, Forex Equalization of seventy billion naira and an Exchange Gain of one point zero-five-five billion naira.
Federal Government received two hundred and eighty point nine-one-three billion naira representing fifty-two point six-eight per cent from the statutory revenue.
States received one hundred and forty-two point four-eight-three billion naira representing twenty-six point seven-two per ent Local Government Area received one hundred and nine pointy eight-four-eight billion naira representing twenty point six-zero per cent while the Oil Producing States received forty-seven point eight-eight-two billion naira also representing thirteen per cent derivation revenue.
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