Business
FG, States, LGs share 299.7bn for March as revenues decrease
The dwindling revenue of the country became noticeable on Thursday as the Federal Government, states and local governments in the country shared a paltry N299.7 bn as allocation for March from the Federation Account.
This was contained in a Communiqué released by the FAAC indicating that the statutory revenue of government decreased by N37.880 billion from the N270.499 in the previous month to N232.619 billion.
Read also: SEC to boost commodity trading
Permanent Secretary of the Ministry of Finance, Mahmud Dutse said in Abuja that the Federal Government got N109.113 billion, state governments received N55.344 billion and local governments got N42.668 billion, while oil producing states received N19.750 billion as 13 percent derivation.
Mahmud further stated that N61.665 billion was shared from Value Added Tax proceeds with the federal government getting N9.250 billion, states, N30.833 billion and local governments, N21.583 billion.
RipplesNigeria… without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...