Federal, States And Local Government Share N420 Billion As Revenue For September – Kemi Adeosun

Related stories

Tinubu Departs Saint Lucia, Heads to Brazil for BRICS Summit

By Abiola Olawale President Bola Ahmed Tinubu departed Saint Lucia...

2027: Drama, Intrigues as Julius Abure Tells Otti to Quit Labour Party

By Abiola Olawale In a dramatic turn of events, Barrister...

FG Secures $100m for Lagos-Calabar Project from ECOWAS Bank

By Abiola Olawale The Nigerian government has reportedly secured a...

Ex- Arsenal Star Thomas Partey Faces Rape, Sexual Assault Charges in UK

By Abiola Olawale The Metropolitan Police have formally charged former...

Edwin Cortes: Prefers Being A Small Puerto Rican Than Big American

By Owei Lakemfa To be a citizen of the United...

Mrs Kemi Adeosun, minister of finance said Federal, state governments and the local councils shared N420 billion as revenue for September as against N510.3 billion shared in August.

Adeosun, said this in Abuja on Thursday at the monthly revenue allocation to Federal, States and Local Governments.

She was represented by the Permanent Secretary of the ministry, Mr Mahmoud Isa-Dutse.

According to her, the revenue allocation to Federal, States and Local Government for September declined by N90.2 billion.

Adeosun attributed the decline to the loss of 45.5 million dollars in Federation export sales, despite the increase in average price of crude oil from 46.06 dollars per barrel in May to 48.4 dollars in June.

Giving a breakdown of how the N420 billion revenue for September was generated, Adeosun said that N250.9 billion was from the distributable Statutory Revenue of the month.

She added that N6.33 billion was refunded by the NNPC to the Federation, N63.4 billion from the Excess Petroleum Profit Tax account, exchange gain of N41.4 billion and VAT, N64.2 billion.

The minister said after deductions as cost of collection by FIRS, Customs and DPR, the Federal Government received N120.4billion, representing 52.68 per cent; states and N61 billion, representing 26.72 per cent.

The local governments, she said, received N47 billion, amounting to 20.60 per cent of the amount distributed.

She announced that N13.7 billion, representing 13 per cent derivation revenue, was also shared among the oil producing states.

Adeosun said that the country generated N135.4billion as mineral revenue and N144.3 billion as non-mineral revenue.

She said this showed a decrease of N23.3 billion and N12 billion from what the country generated as mineral and non-mineral revenue in the months of August and September.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
Tinubu Departs Saint Lucia, Heads to Brazil for BRICS Summit2027: Drama, Intrigues as Julius Abure Tells Otti to Quit Labour PartyFG Secures $100m for Lagos-Calabar Project from ECOWAS BankEx- Arsenal Star Thomas Partey Faces Rape, Sexual Assault Charges in UKEdwin Cortes: Prefers Being A Small Puerto Rican Than Big AmericanJune 12 And The International Pursuit of Justice For Abiola, By Femi FalanaBreaking Down the West’s $146 Billion 2024 Defence Technology InvestmentG7 vs. the World: GDP, Population, and Military StrengthUS drillers cut oil and gas rigs for 10th week in a row, Baker Hughes saysExclusive! Tinubu Tips Late Ajimobi's Wife, Florence, Others for Ambassadorial PostsTinubu Mourns, Pays Tribute to Legendary Super Eagles Goalkeeper Peter RufaiNatasha vs Akpabio: Court Orders Senate President To Recall Senator NatashaHadi Sirika Denies Defection to ADC Coalition Rumors, Reaffirms Loyalty to Buhari, APCChina Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsHow Super Eagles Icon Peter Rufai passed Away at 61
X whatsapp