THE sum of N639.901bn was distributed on Thursday by the Federation Account Allocation Committee as September revenue to the three tiers of government.
This distribution was effected after the physical meeting of the Committee held at the headquarters of the Federal Ministry of Finance, in Abuja.
A communique issued at the end of the meeting said the total distributable revenue was put at N639.901bn.
This is made up of statutory revenue of N341.5bn; Value Added Tax revenue of N141.85bn; N39.54bn from Forex Equalisation; N45bn from Non-oil Excess Revenue; and N72bn from Federal Government Intervention Revenue.
The gross statutory revenue of N341.5bn available for the month of September was lower than the N531.83bn received in the previous month by N190.32bn.
According to the Communique, the gross revenue of N141.858bn available from VAT was also lower than the N150.23bn available in the previous month by N8.37bn.
It also stated that from the total distributable revenue of N639.9bn; the Federal Government received N255.74bn, the State Governments got N185.64bn while the Local Government Councils were given the sum of N138.44bn.
Also, the oil producing states received N36.18bn as 13 per cent mineral revenue, while cost of collection and transfers had an allocation of N23.87bn.
The Federal Government received N161.13bn from the gross statutory revenue of N341.5bn; the State Governments received N 81.72bn and the Local Government Councils got N63bn.
In addition, the sum of N21.68bn was given to the relevant states as 13 per cent mineral revenue and N13.96bn was the total for cost of collection, transfers and refunds.
From the VAT revenue of N141.85bn, the Federal Government received N19.78bn, the State Governments received N65.96bn; the Local Government Councils got N46.175bn, while cost of collection, transfers and refunds had an allocation of N9.93bn.
