The National Bureau of Statistics (NBS) has disclosed that the Federation Account Allocation Committee (FAAC), disbursed the sum of N649.19 billion to the federal, states and local governments in January 2019.
The NBS made this disclosure in its FAAC January, 2019 Disbursement statistics posted on its website.
Of this amount, the FAAC allocated the sum of N270.17 billion to the Federal Government from the revenue generated in December, 2018.
The bureau stated that the states received a total of N178.04 billion while local governments received N133.83 billion.
The report said that amount disbursed comprised N547.46 billion from the Statutory Account, N100.76 billion from Valued Added Tax (VAT) and N976.53 million exchange gain differences.
The sum of N45.36 billion was shared among the oil producing states as 13 per cent derivation fund.
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.69 billion, N4.04 billion and N8.04 billion respectively as cost of revenue collections.
Further breakdown of revenue allocation distribution to the Federal Government revealed that the sum of N216.57 billion was disbursed to the Federal Government consolidated revenue account.
In addition, the sum of N4.81billion was disbursed as share of derivation and ecology and N2.43 billion as stabilisation fund.
Also, the sum of N8.15 billion was shared for the development of natural resources and N5.82 billion to the Federal Capital Territory (FCT), Abuja.