The Federal, state and local governments have shared N718.103 billion as revenue from the Federation Accounts and proceeds of the Value Added Tax, VAT, for the month of June 2013.
According to Minister of State for Finance and Chairman of Federation Account Allocation Committee, FAAC, Alhaji Lawan Yerima Ngama, N623.767 billion was distributed as statutory disbursements, while N51.170 billion was shared between the three tiers of government as proceeds from VAT.
According to the minister, the Federal Government received N294.038 billion or 52.68 per cent, state governments received a combined cheque of N149.140 billion or 26.72 per cent while all the local governments got N114.981 billion or 20.6 per cent of the statutory disbursements.
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