Federation Account Allocation Committee, FAAC, has shared N2.036 trillion among the federal government, states and local government councils.
The revenue was shared at the April FAAC meeting in Abuja.
The N2.036 trillion total distributable revenue comprise statutory revenue of N1.320 trillion, Value Added Tax, VAT, revenue of N515.391 billion and Agumentation of N200 billion.
A communiqué issued by FAAC indicated that total gross revenue of N2.364 trillion was available in the month of March.
It said total deduction for cost of collection was N81.084 billion, while total transfers, refunds and savings was N246.872 billion and Agumentation of N200 billion.
The communiqué said gross statutory revenue of N1.699 trillion was received for the month of March.
This is higher than the N1.561 trillion received in the preceding month by N137.914 billion.
“Gross revenue of N664.425 billion was available from VAT in March.
“This was lower than the N668.450 billion available in the month of February by N4.025 billion,” it said.
The communiqué said from the N2.036 trillion total distributable revenue, the federal government received N789.159 billion and state governments received N657.596 billion.
It added that local governments received N468.826 billion, while N120.759 billion (13 per cent of mineral revenue) was shared to the benefiting state as derivation revenue.
“On the N1.320 trillion distributable statutory revenue, the federal government received N632.260 billion and state governments received N320.691 billion.
“Local governments received N247.239 billion and N120.759 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue,” it said.
It said from the N515.391 billion distributable VAT revenue, the federal government received N51.539 billion, state governments received N283.465 billion and local governments received N180.387 billion.
It noted that from the N200 billion Augmentation, the federal government received N105.360, state governments received N53.440 billion and local governments received N41.200 billion.
It said in March, Companies Income Tax, CIT, CGT, SDT and Excise Duty increased significantly.
It added that Petroleum Profit Tax, PPT, Hydrocarbon Tax, HT, Oil and Gas Royalty, Import Duty and CET decreased considerably, while VAT decreased marginally. NAN
