A total statutorily distributable sum of N518.54 billion was shared on Friday among the three tiers of government for the month of June.
Also, it emerged that the Excess Crude Account (ECA) created to provide succour in rainy days has increased slightly to $2.2 billion from about 2.1 billion.

Briefing journalists after the monthly meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja, Permanent Secretary, Federal Ministry of Finance, Mrs. Anastasia Daniel-Nwaobia who chaired the meeting said mineral revenue in the period in review stood at N289.35 billion compared to N225.16 in May.

The non-mineral revenue also increased to N196.59 billion from N98.89 billion the previous month.
She said value added tax (VAT) receipts also increased to N64.99 billion in June compared to N56.82 billion in May.

A breakdown of the statutory distribution showed the Federal Government received N218.92 billion while the states shared N111.04 billion as well as the local governments which got N85.61 billion. The sum of N34.10 billion was further shared to the oil and gas producing states under the derivation principle.
For the VAT distribution, the Federal Government got N9.35 billion while the states shared N31.19 billion as well as the local governments which got N21.83 billion.

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http://monitor9ja.com/2015/07/fg-states-lgs-share-n518-54bn-in-june/

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