FG, states, LGAs shared N616.87bn in April – FAAC

The Federation Accounts Allocation Committee on Friday said it shared a total of N616.87bn as April 2021 revenue to the Federal, States and Local Governments as well as other relevant agencies in Nigeria.

The Office of Accountant General of the Federation disclosed that the shared revenue was contained in a communiqué issued by FAAC after its monthly meeting for April 2021 held through virtual conferencing.

The Director, Information, Press and Public Relations, OAGF, Henshaw Ogubike, revealed this in a statement issued in Abuja on Friday.

The statement was titled ‘FAAC shares N616.87bn April 2021 revenue to FG, states and LGs’.

According to the statement, the gross statutory revenue for April was N429.73bn, the gross revenue from the Value Added Tax was N164.34bn and revenue from the exchange gain amounted to N2.25bn.

The OAGF also said that the excess bank charges recovered was N0.56bn, while revenue from non-oil was N20bn, bringing the total gross revenue to N616.87bn.

The statement read in part, “In April 2021, the sum of N79.47bn was the total deductions for cost of collection, statutory transfers and refunds.

“The balance in the Excess Crude Account was $ 72.41m.”

The communiqué indicated that from the total revenue, the Federal Government received N244.01bn, while the state and local government councils received N193.43bn and N143.29bn respectively.

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