A total of N511. 8b was shared among Federal, States and local governments as revenue for July 2015. This was disclosed by the Permanent Secretary, Federal Ministry of Finance, Anastasia Nwaobia on Wednesday while addressing newsmen on the outcome of the Federation Accounts Allocation Committee, FAAC meeting.
Nwaobia said the amount shared comprised the month's net statutory revenue of N433.5b and the exchange gain of N6.4b.
"Therefore, the total revenue distributable for the month of July including VAT of N74.9 billion is N511.8 billion,"
She said that while the Federal Government received N202.1 billion, representing 52.68 per cent, states got N102.5 billion, representing 26.72 per cent, and
the local governments received N79 billion, amounting to 20.60 per cent of the amount distributed.
She added that N28.2b amounting to 13 % of derivation revenue was shared among the oil producing states.
Nwaobia also said that VAT revenue increased by N9.9b in July to N74.9b over the preceding month. She said that mineral revenue was N228. 8b,and non mineral N190.2b
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