The Federation Account Allocation Committee (FAAC) has shared ₦1.578 trillion among the Federal Government, states and local governments for the month of March.
This is according to a communiqué issued by FAAC and made available by the Director, Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, on Saturday.
According to the communiqué, the total revenue of ₦1.578 trillion comprised statutory revenue of ₦931.325 billion and Value Added Tax revenue of ₦593.750 billion.
It also comprised Electronic Money Transfer Levy revenue of ₦24.971 billion and Exchange Difference revenue of ₦28.711 billion.
FAAC said that a total gross revenue of ₦2.411 trillion was available in the month of March.
“Total deduction for cost of collection was ₦85.376 billion while total transfers, interventions and refunds was ₦747.180 billion,” it said.
The communiqué said that gross statutory revenue of ₦1.718 trillion was received for March which was higher than the sum of ₦1.653 trillion received in February by ₦65.422 billion.