A total of N741.843 billion has been shared as
Federal Allocation for the month of September, 2018 between the federal,
states and local government areas of the country. The figure is a
cumulation of the revenue generated within the previous month of August.
In a communiqué issued by the Federal Account Allocation Committee at
the end of the meeting yesterday indicated that the Gross statutory
revenue of N627.139 billion received for the month was higher than the
N609.975billion received in the previous month by N17.164 billion. Crude
oil export sales volume was 4.57 barrels resulting in an increased
revenue from Federation Crude Oil Experts sales by 0.82 million barrels
when compared with the previous month’s sales volume of 3.74 million
barrels. Import Duty and Value Added Tax (VAT) recorded marginal
increases. “The distributable Statutory Revenue for the month is
N627.139 billion. The total revenue distributable for the current month
is (including VAT and exchange gain) is N741.843 billion,” permanent
secretary in the federal ministry of finance, Mahmoud Isa-Dutse who
addressed journalists after the meeting said. Below is the breakdown of
the net distribution. Federal Government received N274billion
representing 52.68 per cent; States received N139.427 billion
representing 26.72 per cent; Local Government Councils received N107.493
billion representing 20.60 per cent; while the Oil Producing States
received N53.034 billion also representing 13 per cent derivation
revenue. Furthermore, from the Revenue available from the Value Added
Tax (VAT), Federal Government received N16.494 representing 15 per cent;
States received N54.981 billion representing 50 per cent while the
Local Government Councils received N38.486 billion also representing 35
per cent. N40 billion was transferred into the Excess Crude Account
(ECA), adding that the balance in the ECA account was 2.46 billion
dollars. Commenting on the allegation, that the Federal Government had
recalled the second tranche of the Paris Club Refund from Delta, Imo,
Benue, Rivers and Osun state, he said that the issue was not raised by
the committee members. Meanwhile, the Accountant-General of the
Federation, Mr Ahmed Idris assured Civil Servants that their salaries
would be paid on time, in spite of the threat by the Nigeria Labour
Congress to go on strike. The industrial strike is in furtherance of the
implementation of the new National