Three Tiers of Government Shares N1.1 trillion Revenue for The Month of December 2023
The Three Tiers of Government have shared revenue totaling N1.127 trillion as their allocation from the federation account for the month of December 2023.
The allocation is higher than N1.08 trillion they shared for the month of November 2023.
The December allocation was shared at the monthly meeting of the federation account allocation committee in Abuja on Tuesday.
It was shared from the Gross Total Revenue collected for the month.
The distributable revenue was realized from Statutory Revenue (N363.18 billion); Value Added Tax (N458.6 billion), Electronic Money Transfer Levy (N17.85 billion), and Foreign Exchange Differential of N287.7 billion.
Read Also:
Ogun Says Its Economy Now Worth N6 Trillion, Depending Less on Federation Account Allocation
The total cost of collection by revenue generating agencies was N62.25 billion.
Also, N484.5 billion was deducted for transfer, intervention and refund.
The total revenue distributable for December 2023 stood at N1,127.408 trillion.
The Excess Crude Account (ECA) balance as of January 23, 2024, is $473,754.57.
