[Monthly Allocation] FG, States, LGs Share N511.8bn For July

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• The Permanent Secretary, Federal Ministry of Finance, Mrs Anastasia Nwaobia, on Wednesday said N511.8 billion was shared among the Federal, States and Local Governments as revenue for July, 2015.
• Nwaobia announced this in Abuja when she addressed newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting.
• She said that the shared amount comprised the month’s net statutory revenue of N433.5 billion.

“Also, there is the exchange gain of N6.4billion which is proposed for distribution.

“Therefore, the total revenue distributable for the month of July including VAT of N74.9 billion is N511.8 billion,” she said.

• Nwaobia said that N6.3 billion was refunded by Nigerian National Petroleum Corporation (NNPC) and was also proposed for sharing.