Federal Government Oil Revenue Drops By N66.23bn



Minister of Finance, Zainab Shamsuna Ahmed

The Federation Account Committee in a meeting held at the Federal Ministry of Finance disbursed the sum of N635.82 billion naira.

The Permanent Secretary, Ministry of Finance, Mahmoud Isa-Dutse made this known to newsmen during the meeting held on Thursday 19 December 2019, between the Commissioner of Finance from the 36 states and representatives from the committee.

The accounting committee recorded a decreased of N66.23bn compared to the N702.05bn they recorded in October. This means that the committee realized the total sum of N635.82bn,  both Values added tax and statutory revenue.

The committee disbursed N267.88bn to the Federal Government Account, N172.56bn was shared between the 36 states while local governments received N129.97bn.

Also,  he made it know that the Oil-Producing States on the 13 per cent derivatives principles, received N49.12bn,  N16.27bn was deducted as the cost of collecting the revenues and N324.96m was kept in the excess crude account.

1 Comments

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  1. Money that they will embezzle abegi... Another story jare

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