The Federation Account Allocation Committee (FAAC) disbursed the
sum of N616.20bn to the three tiers of government in May 2019 from the
revenue generated in April 2019.

The amount disbursed
comprised of N518.92bn from the Statutory Account, N96.49bn from Valued
Added Tax (VAT) and N797.11mln exchange gain differences.

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Federal
Government received a total of N253.92bn from the N616.20bn. States
received a total of N168.06bn and Local Governments received N126.28bn.
The sum of N46.35bn was shared among the oil-producing states as 13%
derivation fund.

Revenue generating agencies such as Nigeria
Customs Service (NCS), Federal Inland Revenue Service (FIRS) and
Department of Petroleum Resources (DPR) received N5.38bn, N6.78bn and
N3.12bn respectively as cost of revenue collections.

Further
breakdown of revenue allocation distribution to the Federal Government
of Nigeria (FGN) revealed that the sum of N199.58bn was disbursed to the
FGN consolidated revenue account; N4.56bn shared as share of derivation
and ecology; N2.28bn as stabilization fund; N7.65bn for the development
of natural resources; and N5.44bn to the Federal Capital Territory
(FCT) Abuja.

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