The statement revealed that a total revenue of N1,483.902 trillion was available in the month of August, with total deductions for cost of collection being N58.755 billion; total transfers and refunds stood at N254.046 billion while savings was N71.000 billion.
Gross statutory revenue of N891.934 billion was received for the month of August 2023. This was lower than the N1150.424 billion received in the month of July 2023 by N258.490 billion.
“The gross revenue available from the Value Added Tax (VAT) was N345.727 billion. This was higher than the N298.789 billion available in the month of July 2023 by N46.938 billion.
“The communique stated that from the N1100.101 billion total distributable revenue, the federal government received a total of N431.245 billion, the state governments received N361.188 billion and the local government councils received N266.538 billion.
“A total sum of N26.473 billion (13% of mineral revenue) and N14.657 billion (13% of savings from NNPCL), were shared to the relevant states as derivation revenue.” the statement said.
From the N357.398 billion distributable statutory revenue, the federal government received N173.102 billion, state governments received N87.800 billion and the local government councils received N67.690 billion, the statement said.
The federal government received N48.291 billion, state governments got N160.971 billion and the local government councils received N112.679 billion from the N321.941 billion distributable Value Added Tax (VAT) revenue.
