The Federation Accounts Allocation Committee, FAAC,
has shared a total of seven hundred and eighty point nine-two-six billion naira as March 2020 Federation Account Revenue to the Federal, States and Local Governments and relevant Agencies in the country.
Our Abuja bureau Chief, Ekwi Ajide, reports that the information was contained in a statement of Account issued by the Federation Account Allocation Committee in Abuja.
The seven hundred and eighty point nine-two-six billion naira comprised Statutory Revenue, Value Added Tax, and Exchange Gain.
The balance in the Excess Crude Account was seventy two point two-two-one million dollars.
The statement signed by the Director Information, Press and Public Relations, Henshaw Ogubike, gave the gross statutory revenue for the month of March 2020 as five hundred and ninety-seven point six-seven-six billion naira which was higher than the four hundred and sixty-six point zero-five-eight billion naira received in February and January 2020 by one hundred and thirty-one point six-one-eight billion naira.
The Value Added Tax, yielded gross revenue of one hundred and twenty point two-six-eight billion naira in March 2020 as against ninety-nine point five- five-two billion naira in February 2020, resulting in an increase of twenty point seven-one-six billion naira.
A total of sixty-two point nine-two-eight billion naira was available from Exchange Gain in the month under review.
According to the Statement of Accounts, the Federal Government received two hundred and seventeen point seven-seven-three billion naira from the gross statutory revenue of five hundred and ninety-seven point six-seven-six billion naira.
State governments received one hundred and ten point four-five-seven billion naira while Local Government Councils received eighty-five point one-five-eight billion naira.
Comments are closed for this post.