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.
(NAN)