FG, states share N655b December 2017 revenue

The Federal Government, states and local councils yesterday received N655.177billion December 2017 revenue generated from diverse sources. The figure represented N45.2billion above the November distributable amount of N514.413billion.

The breakdown of the figures indicated that the Federal Government got N278.735 billion; the 36 states received N175.547billion; while the local councils got N132.481 billion.

The oil producing states, however, received an additional N51.738 billion being 13 per cent of oil revenue for the month.Finance Minister, Mrs. Kemi Adeosun who is Chairman of the Federation Accounts Allocation Committee (FAAC) gave a break at a briefing at the end of its meeting.

She said statutory revenue contributed N540.66 billion; Value Added Tax (VAT) yielded N83.963 billion, while N30.768 billion was derived from Forex equalisation.