The Accountant General of the Federation, Ahmed Idris, on Tuesday said that N387.771billion was shared among the federal, states and local governments as revenue for December 2015. This was higher than the N369.882 shared in the previous month.
Idris announced this in Abuja when he addressed newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting.
He said that the shared amount comprised the month’s net statutory revenue of N377.090 billion.
Also, there is the exchange gain of N4.351billion which is proposed for distribution, bringing the total revenue distributable for the month of December to N381.441 billion, including VAT of N62.071 billion.
Idris said N6.330 billion was refunded to the federation by Nigerian National Petroleum Corporation (NNPC) and was also proposed for sharing.
It will be recalled that NN369.882 billion was shared to the three tiers of government as revenue for the preceding month. This shows a difference of N17.889 billion between the two months.
Giving the breakdown of revenue among the three tiers, Idris said the Federal Government received N147.567 billion, representing 52.68 per cent; states N74.848 billion, representing 26.72 per cent. The local governments received N57.705 billion, amounting to 20.60 per cent of the amount distributed.
The accountant General announced that N27 billion, representing 13 per cent derivation revenue was shared among the oil producing states. On VAT, he said that the N59.588 billion collected for the month showed an increase of N854 million from the preceding month.
He said that the country generated N214.647 billion as mineral revenue and N100.372 billion as non-mineral revenue.
This shows an increase of N16.049 billion and N1.520 billion from what the country generated as mineral and non- mineral revenue in the preceding month.
Similarly, a total sum of $150 million NLNG dividend was equally distributed to the three tiers of government for the month.
According to him, there was revenue loss of $143.96 million as a result of reduction in Federation Export sales and drop in the average price of crude oil from $49.58 in October to $43.40 in November, 2015 occasion by shut-in and shut-down of production for repair.
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