The Federal Government, States and Local Government Areas (LGAs) shared N769.52 billion as federal allocation for the month of July.
Mr Ahmed Idris, the Accountant-General of the Federation (AGF), said this on Thursday in Abuja, while addressing newsmen at the end of the Federation Accounts Allocation Committee (FAAC) meeting.
Represented by Mr Mohammed Usman, Director, Funds, Office of the Accountant-General of the Federation (OAGF), Idris said the shared amount comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.
He said that the gross statutory revenue for the month was N674.36 billion, higher than the N652.9 billion received in the previous month by N21.41 billion.
Idris added that revenue from the VAT, which stood at N94.15 billion, was lower than N108.63 billion distributed in June, resulting in a decrease of N14.472 billion.
The Acoountant General of the Federation said that Exchange Gain yielded a…
Source: Thisday Newspaper
