The Federal Government, states and local governments have shared N649.19bn as revenue for December 2018.
The Accountant-General of the Federation, Mr. Ahmed Idris, who disclosed this on Friday in Abuja, said the figure showed a decline of N163.57bn, compared to the N812. 76bn that was shared in November 2018.
Idris said this while addressing newsmen on the outcome of the Federal Account Allocation Committee meeting.
Giving a breakdown of December revenue, Idris said that the Mineral revenue reduced from N421.8bn in November to N354.22bn.
Also, the Non-Mineral Revenue decreased from N227.7bn in November to N193.24bn.
Idris, however, said that the Value Added Tax (VAT) collected for the month increased from N88.39 billion to N96.73bn in December.
“The gross statutory revenue of N547.46bn received for the month was lower than the N649.62 billion received in the previous month by N102.16bn.
“Federation Crude Oil export sales dropped by N1.7m barrels, resulting to a drop in Federation revenue by 83.54m, regardless of a significant increase in price from 72.84 dollars to 81.06 dollars per barrel.
“There was shutdown, shut in and closure of production at various terminals due to fire, leakage and flooding.
“Revenues from VAT, import and excise duties and royalties increased marginally while Companies Income Tax and Petroleum Profit Tax decreased significantly,” he said.
Idris said that the Federal Government received N255.2bn; States N129.44bn and N99.7bn was received by the local governments.
According to him, N45.52bn, representing 13 per cent of the mineral revenue, was shared to oil producing states.
He, however, said that the Excess Crude Account, which is owned by all tiers of government, was 631 million dollars.
REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...Send your press release/articles to: email@example.com, Click here Subscribe to our BBM Channel: C01142506 Follow us on Twitter at @Nigerialawyers and Facebook @ facebook.com/thenigerialawyer For Advert Inquiries Tele/+234 806 819 1709 E-mail: firstname.lastname@example.org
Order for your copy now. Call +2347065222225, +2348033334902. Email us @..email@example.com Orlaurelsandprizes@gmail.comThe Electronic Law reports of the Court of Appeal Nigeria. Now Available @ courtofappealreportsnigeria.com
A Report Of The Judgement Of The 16 Divisions Of The Court Of Appeal In Nigeria