…releases third tranche of Paris Club refund to 27 states
By Emmanuel Elebeke
ABUJA —The nation’s federally collected revenue recorded an increase, occasioned by rising crude oil price from $48.66 to $52.07 in the month under review, leading the Federation Accounts Allocation Committee, FAAC, to share N609.958 billion, among the three tiers of government on Saturday.
The amount is slightly higher by N77.200 billion compared to the N532.758 billion that was distributed in the previous month.
This amount is made up of a total of statutory distributable revenue of N549.532 billion for the month under review and Value Added Tax (VAT), revenue of N80.426 billion.
The N529.533 billion distributable statutory revenue for the month was slightly higher than the N443.045 billion collected…
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