Permanent Secretary, Ministry of Finance, Budget and National Planning, Mr Isa Dutse, said on Wednesday that Federal, States and Local Government Councils shared N635.8 billion in November.

Dutse disclosed this while addressing journalists after the Federation Account Allocation Committee (FAAC) meeting in Abuja.

He said the amount shared included Value Added Tax (VAT), exchange gain and Forex Equalisation.

According to him, the gross statutory revenue generated for the month was N491.8 billion, which was lower than N596.04 billion received in the previous month, with a difference of N104.1 billion.

The permanent secretary said the federal government got N242.2 billion, states N159.9 billion, while local government councils received N120.2 billion inclusive of VAT.

Dutse said N42.1 billion was allocated to some states as a 13 percent derivation from mineral revenues.

He said from the Forex Equalisation revenue of N53 billion, the federal government received N24.290 billion, states got N12.321 billion, while the local government councils received N9.499 billion.

He said N6.8 billion was given to Oil Producing States as a 13 percent derivation revenue.

“Revenues from Companies Income Tax(CIT), VAT, import duty, Royalties and Petroleum Profit Tax (PPT) decreased significantly, while Excise Duty increased marginally in November, ” Dutse said. 

NAN