By Modupe Gbadeyanka
A total of N616.9 billion generated as revenue in the month of April 2021 has been disbursed to the federal, states and local governments as allocation for May 2021.
Business Post reports that a breakdown showed that N429.7 billion was from gross statutory revenue, N164.3 billion from Value Added Tax (VAT), N2.3 billion was from exchange gain, N20.0 billion was generated from non-oil income, while N563 million was from excess bank charges.
This week, the Federation Accounts Allocation Committee (FAAC) had its monthly meeting and a communiqué issued after the gathering from the Office of Accountant General of the Federation (OAGF) said the federal government received N244.0 billion from the total earnings, while the state and local government councils shared N193.4 billion and N143.3 billion respectively.
In the notice issued on Friday by the Director of Information, Press and Public Relations at the OAGF, Mr Henshaw Ogubike, noted that oil-producing states received N36.2 billion as 13 per cent derivation revenue.
He added that from the gross statutory revenue, N207.5 billion was given to the federal government, while the 36 state governments got N105.2 billion, with the 774 local government councils receiving N81.1 billion.
“The sum of N35.9 billion was given to the relevant states as 13 per cent derivation revenue,” the statement added.
It further said the federal government received N24.7 billion from VAT revenue of N164.3 billion, the state governments received N82.2 billion and local government councils received N57.5 billion.
Further, the central government got N1.1 billion from the income earned from exchange gain, the state governments shared N533 million, while the local government councils shared N411 million, with N255 million shared among the relevant states as 13 per cent derivation revenue.
Also, from the excess bank charges, the federal government received N296 million, the state governments received N150 million, while the local governments received N116 million.
In the statement, the national government shared N10.5 billion from non-oil revenue, the state governments got N5.3 billion, while the local governments received N4.1 billion.
In addition, FAAC said last month, petroleum profit tax and excise duty recorded a significant increase, while company income tax, oil and gas royalties, VAT and import duty experienced a decline.
It was stated that, “In April 2021, the sum of N79.5 billion was the total deductions for the cost of collection, statutory transfers and refunds.
“The balance in the Excess Crude Account (ECA) was $72.4 million.”
Dipo Olowookere 
Adedapo Adesanya