The amount of money shared among the three tiers of government for the month of April declined by 22.4% to N606.196b, according to figures released by the Federation Accounts Allocation Committee.
The amount, shared on Friday, was N174.73b down from N780.926 billion disbursed in the previous month.
Of the total amount shared which is inclusive of VAT, Exchange Gain, Solid Mineral Revenue, Excess Bank Charges and Excess Oil Revenue, the Federal Government received N169.831b, the States received N86.140b, Local Government councils got N66.411b, while the oil producing states received N32.895 billion as derivation (13% Mineral Revenue).
However, cost of collection, FIRS Refund, Allocation to North East Development Commission and Transfer to Excess Oil Revenue was out at N15.134 billion.
In a communique issued by the FAAC, the Gross Revenue available from the Value Added Tax (VAT) for April 2020 was N94.495b representing a N25.772b decrease from N120.268 billion distributed in the preceding month of March 2020.
Of the total VAT generated for the month, Federal Government got N13.182b, the States received N43.941b, Local Government Councils got N30.758b
The distributed Statutory Revenue of N370.411b received for the month was lower than the N597.676 billion received for the previous month by N227.265b.
The communique also revealed that Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Import and Export Duties, Oil and Value Added Tax (VAT), all recorded decreases.
Disruptions in economic activities caused by the coronavirus pandemic have led to a lull in revenue generation by companies and the government.
