ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

FG, State and LGs share N616.886bn revenue in April

by Usman Kadri
May 23, 2021
Reading Time: 2 mins read
FG, State and LGs share N616.886bn revenue in April

Ahmed

Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

Three tires of government- federal states and 774 local government councils received the sum of N616.886 billion as revenue from the federation purse for April.

The amount was approved for sharing by Federation Accounts Allocation Committee (FAAC), a statement by Director ( information), Accountant General of Federation Mr. Henshaw Ogubike said.

The distributable statutory revenue for the month of April 2021 was N429.733 billion; distributable revenue from the Value Added Tax (VAT) was N164.340 billion; Excess Bank Charges Recovered was N0.563 billion; Exchange Gain was N2.250 billion. The sum of N20 billion from Non Oil revenue was added as augmentation, bringing the total distributable revenue to N616.886 billion.

RELATED STORIES

Natasha drags Akpabio to UN, exposes Senate President over alleged sexual harassment

BREAKING: Court Orders Senate to recall suspended Natasha Akpoti

July 4, 2025
Natasha: If anything happen to me, hold Akpabio,  Yahaya Bello, Ododo responsible

JUST IN: Court fines Senator Natasha ₦5 million for civil contempt

July 4, 2025

In April 2021, the sum of N79.468 billion was the total deductions for cost of collection, statutory transfers and refunds. The balance in the Excess Crude Account (ECA) was $ 72.413 million.

According to the statement, of total distributable revenue of N616.886 billion; federal government received N244.011billion, state governments received N193.432 billion while the sum of N143.298 billion went to local government councils.

The sum of N36.145 billion was shared to the relevant States as 13% derivation revenue.

From the distributable statutory revenue of N429.733 billion; the Federal Government received N207.477 billion, the State Governments received N105.235 billion and the Local Government Councils received N81.132 billion. The sum of N35.890 billion was given to the relevant States as 13% derivation revenue.

The Federal Government received N24.651 billion from the distributable Value Added Tax (VAT) revenue of N164.340 billion. The State Governments received N82.171billion, the Local Government Councils received N57.519 billion.

From the Exchange Gain revenue of N2.250 billion, the Federal Government received N1.051 billion, the State Governments receive N0.533 billion, the Local Government Councils received N0.411 billion and N0.255 billion was given to the relevant States as 13% derivation revenue.

The communiqué confirmed that the Federal Government received N0.296 billion, the State Governments received N0.150 billion, and the Local Government Councils received N0.116 billion available from Excess Bank Charges.

The Federal Government received N10.536 billion, the State Government received N5.344 billion and the Local Government Councils received N4.120 billion from the N20 billion augmentation from Non-Oil revenue.

The statement added that, in the month of April 2021, Petroleum Profit Tax (PPT) and Excise Duty recorded considerable increases while collections for Companies Income Tax (CIT) and Oil and Gas Royalties decreased significantly. Also, Value Added Tax (VAT) and Import Duty took a marginal downturn.

Next Post
COVID-19: FG declares 141 violators of travel guidelines wanted

COVID-19: FG declares 141 violators of travel guidelines wanted

More Articles...

Scammer Ehis Lawrence Akhimie pleads guilty to defrauding 400 Americans of $6 million

Scammer Ehis Lawrence Akhimie pleads guilty to defrauding 400 Americans of $6 million

July 5, 2025
U.S court jails Edward Oluwasanmi over $4.2m scam

U.S court jails Edward Oluwasanmi over $4.2m scam

July 5, 2025
Adron Homes made my dream come true —New homeowner shares inspiring testimony

Adron Homes made my dream come true —New homeowner shares inspiring testimony

July 5, 2025
Natasha drags Akpabio to UN, exposes Senate President over alleged sexual harassment

BREAKING: Court Orders Senate to recall suspended Natasha Akpoti

July 4, 2025
Former Arsenal midfielder, Thomas Partey charged with rape

Former Arsenal midfielder, Thomas Partey charged with rape

July 4, 2025
Natasha: If anything happen to me, hold Akpabio,  Yahaya Bello, Ododo responsible

JUST IN: Court fines Senator Natasha ₦5 million for civil contempt

July 4, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport