LG, States, FG share N420bn in September

buhari-and-kemi-adeosun-tvc420 billion naira was shared among Nigeria’s three tiers of government for September.

Gross statutory revenue was down by over 35 billion naira to 279.7 billion.

The revenue shortfall was blamed on shutdown of pipelines for repairs, drop in volume of dutiable imports and receipts from joint venture cash calls.

A decline in foreign companies’ income tax and value added tax also cut revenue.

The excess crude account balance stands at 2.5 billion dollars.

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