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Sovereign Wealth Funds Briefing - Categorized | Financials

Nigeria: Three tiers of govt share N722bln in April, as excess crude account rises to N5.27bln

Posted on 17 May 2013

Nigeria’s Federation Accounts Allocation Committee (FAAC) on Wednesday night shared N721.51 billion among the three tiers of government for April while N89.74 billion was added into the Excess Crude Account. The April allocation decreased by N9.628 billion or 1.3 per cent against the N731.133 billion shared in March.
A breakdown of the distributions showed that N531.332 billion was shared from statutory sources, N54.571 billion and N92.436 billion were allocated to the governments from Value Added Tax (VAT) and the augmentation sources. The augmentation was due to shortfall in projected revenues for the month………………………………………..Full Article: Source


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