FG States, LG Shares N559 billion

                 

The Federal Government ,State, and local Government and Local government shared a total of N559 billion yesterday
The amount share were remitted into Federal account from revenue got from Value added Tax in the month of June.

The Federal Government got a total of N209.460 billion; states N133.671 billion; while local governments received N100.759 billion.
The nine oil producing states got extra N 18 billion as 13 per cent derivation from oil revenue.
Minister of Finance Kemi Adeosun said the improvement in revenue was due to more tax receipts by the Federal Inland Revenue Service and duties by the Nigeria Customs Service, adding added that the Excess Crude Account had jumped to $3.09 billion.