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.
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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.
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