Nigeria’s Federation Account Allocation Committee shared ₦2.550 trillion in June revenue among the Federal Government, 36 states, and 774 local councils, a 10.9% rise from May, marking the highest monthly allocation on record.
Director of the Office of the Accountant General of the Federation, Bawa Mokwa, said the distributable revenue comprised ₦1.809 trillion in statutory revenue and ₦740.724 billion from value added taxes. The Federal Government received ₦923.438 billion, states ₦838.208 billion, and local councils ₦591.390 billion, with oil-producing states sharing an additional ₦197.610 billion in 13% derivation revenue.
Gross statutory revenue jumped to ₦3.700 trillion, up ₦1.049 trillion from May, driven by stronger Companies Income Tax, VAT, and import duty collections, even as petroleum profit tax and mineral royalties declined. Gross VAT revenue rose to ₦799.746 billion.
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