The three tiers of government have shared a total of N467.852 billion for the month of July as the Federation Account Allocation Committee (FAAC) met in Abuja on Tuesday.
This is a decrease of N184.377 billion from the N652.229 billion distributed among the federal, states and local governments for the month of June, THISDAY reports.
Briefing journalists at the end of the meeting, the Permanent Secretary, Ministry of Finance, Dr. Mahmoud Isa-Dutse, said the decrease was a result of a decrease in collection by the Federal Inland Revenue Service (FIRS). According to him, as against the sum of N284.8 billion collected by the FIRS for the month of June, collection stood at N90.329 billion.
Giving a breakdown of the share of the N467.852 billion distributed among the three tiers for the month of July, he said the federal government received N181.451 billion, states N92.035 billion and local governments N70.955 billion. The sum of N31.591 billion went to oil-producing states under the derivation principle.topics from