The Federal, State, and Local government shared N640.31 billion as federal allocation for January 2021.
Federal Accounts Allocation Committee distributed the allocations during the virtual meeting on Thursday where the Federal government received N226.998bn, the states walked home with N177.171bn, while the last tier, the local government, were allocated N131.399bn.
The oil-producing states also received 13 percent of mineral revenue, amounting to N26.777bn, while the cost of collection/transfer and refunds got N75.966bn.
According to the statement issued by FAAC after the meeting ended, the gross revenue available from the Value Added Tax for January 2021 was N157.351bn.
This figure negates the N171,358bn distributed in the preceding month, December 2020, which shows a decrease of N14.007bn.
The Federal Government from the VAT got N21.959bn, states N73.168bn, and the local government got N51.218bn. The cost of collection-FIRS/NCS walked home with N11,015bn.
The statutory distribution revenue received for the month, which amounted to about N482.958bn, was higher than the N437.256bn received the previous month by N45.703bn.
The government received N205.047bn from the statutory revenue, states got N104.003bn, and the local government got N80.162bn. While the derivation, which is 13 percent mineral revenue, got N28.777bn, and the cost of collection/transfer and refund got N64.951bn.
