The Federation Accounts Allocation Committee (FAAC) has shared N606.196 billion to the three tiers of government for the month of April.
Mr Hassan Dodo, Director of Information in the Ministry of Finance, Budget and National Planning, made this known in a statement in Abuja on Friday.
Dodo said the meeting, held by virtual, was chaired by Dr Mahmoud Isa-Dutse, the Permanent Secretary in the ministry.
He said the amount shared included Value Added Tax (VAT), Exchange Gain, Solid Mineral Revenue, Excess Bank Charges and Excess Oil Revenue.
He explained that the Federal Government received N169.831 billion, the states got N86.140 billion while the local government councils had N66.411 billion and the oil producing states received N32.895 billion as 13 per cent derivation.
The director, however, disclosed that the cost of collection of Federal Inland Revenue Service (FIRS) Refund and Allocation to North East Development Commission and Transfer to Excess Oil Revenue was N15.134 billion.
“The Gross Revenue available from the VAT for April 2020 was N94.495 billion as against the N120.268 billion distributed in the preceding month of March, resulting in a decrease of N25.772 billion.
“The distribution is as follows; Federal Government got N13.182 billion, the states received N43.941 billion, local government councils took N30.758 billon.
“The distributed Statutory Revenue of N370.411 billion received for the month was lower than the N597.676 billion received for the previous month by N227.265 billion,” he stated.
He said that Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Import and Export Duties, Oil and VAT, all recorded decrease.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Buy and read digital replicas of your TRIBUNE titles by subscribing through E-VENDING
COVID-19: We Don’t Know Whereabouts Of Chinese Doctors ― PTF • Don’t ask me where they are ― Health Minister
The Presidential Task Force (PTF) on COVID-19, on Thursday, said that it is not aware of the whereabouts of the Chinese doctors and health professionals who were brought to Nigeria some weeks ago to help the country in its fight against the COVID-19 pandemic… Read full story
Amid Uproar, Lagos Backtracks, Says Dubai Returnee Didn’t Die Of COVID-19
Lagos State government on Thursday night retracted its earlier claim that one of the returnees from Dubai, died of COVID-19. Other returnees, quarantined at an isolation centre in Lekki, had protested in a viral video clip, disproving the earlier official position… Read full story
No Conclusion Yet On ‘Strange’ Deaths In Kano
The Federal Government says there are no conclusions yet with regard to ‘strange’ deaths in Kano State. The Minister for Health, Dr Osagie Ehanire, disclosed this on Thursday in Abuja at the daily briefing of the Presidential Task Force (PTF) on COVID-19… Read full story
FG To Present Revised 2020 Budget Next Week •As Reps uncover documents on illegal virement of MDAs funds to finance COVID-19
Barring last minutes changes, the Federal Government (FG) is expected to formally present the revised 2020 Appropriation bill of N10.58 trillion to the National Assembly. The Minister of Finance, Budget and National Planning, Zainab Ahmed, who disclosed this during high-level meeting held behind closed… Read full story
COVID-19: PTF Warns Against Using Bleach, Ethanol As Cure
The Presidential Task Force (PTF) on COVID-19, on Thursday, warned Nigerians against the use of bleach or ethanol as cure for COVID-19, saying that its usage can result in death. Besides, the PTF also cautioned Nigerians to stop the stigmatisation of people with COVID-19 infection once they recover from it… Read full story
COVID-19 Care Now Available For All Who Need It ― PTF
The Presidential Task Force (PTF) on COVID-19 pandemic on Thursday assured that Nigeria’s testing strategy is yielding results, asserting that the country can now give care to any patient who needs it. Chairman of the task force and Secretary to Government of the Federation (SGF), Mr Boss Mustapha… Read full story
Buhari Makes Plans For Post-COVID-19 Nigeria
The presidency on Thursday outlined its plans to move the country forward after it exits the present COVID-19 pandemic, highlighting actions in the areas of the economy, healthcare, jobs creation, among others. A statement issued by Femi Adesina, Special Adviser to the President (Media and Publicity) in Abuja noted… Read full story
Nigeria Didn’t Ask For Madagascar COVID Solution, The Country Sent Them To Us, Says PTF
The Presidential Task Force of the control of the COVID-19 pandemic has disowned the Madagascar Covid organic solution, which had been reported to have been requested by the Federal Government to fight the virus. Chairman of the task force and Secretary to the Government of the Federation (SGF), Mr. Boss… Read full story