Home News April Federation Revenue Dips By N18.2billion

April Federation Revenue Dips By N18.2billion

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The Federal Government, states and local governments have shared N281.500 billion from federation revenue that accrued to the nation in the month of April.

The figure represented a decline of about N18.2 billion compared to the N299.74 billion shared last month.

The Minister of Finance, Mrs Kemi Adeosun, who briefed journalists at the end of the Federation Account Allocation Committee, FAAC, meeting in Abuja Wednesday, blamed low oil receipts for the low revenue.

The Federal Government took N110.612 billion; states, N82. 663 billion and local governments, N60.904 billion. Oil-producing states got an additional N15 billion in derivation.

The revenue collection agencies deducted costs of collection under which the Federal Inland Revenue Service, FIRS, took N4.822 billion; Nigeria Customs Service, N2.489 billion, while Department of Petroleum Resources, DPR, got N1.198 billion.

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