N750.174bn shared in January by FG, States, LGAs.

by John Ojewale
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Fed Govt Borrowed 3.17tr Naira in Three Months

N750.174 billion has been shared by Federation Account Allocation Committee (FAAC) to three tiers of government as a federation allocation for January 2023.

This comprises Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levies (EMTL), Augmentation from Non-Mineral Revenue, and an additional N15 billion from Savings.

The federal government received N277.334 billion, state governments N24.4975 billion, local government councils N18.0135 billion and mineral-producing states N3.273 billion (or 13% of mineral revenues) in derivatives. received. ).

Total available Value-Added Tax (VAT) receipts for January 2023 were N250.009 million compared to N250.512 million distributed in the previous month, a decrease of N503 million. rice field.

N 10 billion was allocated for collection costs, and another N 7.2 billion came from remittances, savings, collections and refunds. The remaining total of

The remaining sum of N232.809 billion was distributed as follows: Federal Government, N34.921 billion. The state government received N116.405 billion and the local government council N81.483 billion.

The statutory gross revenue of N65.3703 billion received in January 2023 was N482. decreased by 47.9 billion. From this amount, N23.494 billion was allocated to the Cost of Collection and N241.091 billion went to Transfers, Savings and Refunds.


cc: The NationsNg

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