A total of N1.928 trillion, representing the November Federation Account Revenue, has been shared among the Federal Government, states and Local Government Councils (LGs).
The allocation was made at the December meeting of the Federation Account Allocation Committee (FAAC) held in Abuja on Monday.
This was contained in a communiqué issued at the end of the meeting and made available by Mr Bawa Mokwa, Director of Press and Public Relations, Office of the Accountant-General of the Federation (OAGF).
According to the communiqué, the distributable revenue comprised N1.403 trillion from statutory revenue, N485.838 billion from Value Added Tax (VAT), and N39.646 billion from the Electronic Money Transfer Levy (EMTL).
It stated that a total gross revenue of N2.343 trillion was available for the month of November, from which N84.251 billion was deducted as cost of collection, while N330.625 billion went into transfers, interventions, refunds and savings.
The communiqué said that gross statutory revenue for November stood at N1.736 trillion, a decline of N427.969 billion compared to the N2.164 trillion recorded in October.
Similarly, gross VAT revenue dropped to N563.042 billion in November from N719.827 billion in October, representing a decrease of N156.785 billion.
From the total distributable revenue of N1.928 trillion, the Federal Government received N747.159 billion, state governments received N601.731 billion, while Local Government Councils got N445.266 billion.
In addition, N134.355 billion, representing 13 per cent derivation revenue, was shared among oil-producing states.
A breakdown showed that from the N1.403 trillion statutory revenue, the Federal Government received N668.336 billion, states got N338.989 billion, and LGs received N261.346 billion, while derivation states shared N134.355 billion.
From the N485.838 billion VAT revenue, the Federal Government received N72.876 billion, states N242.919 billion, and LGs N170.043 billion.
The communiqué further revealed that the Federal Government received N5.947 billion from EMTL, while states got N19.823 billion and LGs N13.876 billion.
It noted that Excise Duty recorded a moderate increase in November, while revenues from Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Oil and Gas Royalties, Import Duty, CET Levies, VAT and EMTL recorded substantial declines.