FAAC: Katsina State collect N6.28bn from Fed Gov’t for month of July
The Federation Accounts Allocation Committee (FAAC) has shared a total of N769.523 billion to the three tiers of government for the month of July 2019.
The N769.523 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.
The Committee announced that as at 22nd August 2019, the balance in the Excess Crude Account was $274.407 million.
According to a document from the office of the Accountant General of the federation, the breakdown showed that Katsina State got N6.28 from the share.
The gross statutory revenue for the month of July 2019 was N674.365 billion. It was higher than the N652.949 billion received in the previous month by N21.416 billion.
For the month of July, revenue from the Value Added Tax (VAT) was lower than what it was in the preceding month. Gross revenue of N94.159 billion was available from the Value Added Tax as against N108.631 billion distributed in the preceding month, resulting in a decrease of N14.472 billion. Exchange Gain yielded a total revenue of N0.999 billion.
2019 July #FAAC Shared to States Govt
(Gross amount), N’bn
— StatiSense (@StatiSense) August 31, 2019