The federal government, states and local governments in the country have shared N575.464 billion as federal allocation for the month of January 2013.
The figure, which was the total revenue distributable for the month (including VAT), was contained in a communiqué issued at the end of the meeting of the technical sub-committee of the Federal Account Allocation Committee held in Abuja.
A breakdown of the distribution showed that the federal government had 52.68 per cent (N216.512 billion as against N217.425 in the previous month.
State governments got 26.72 per cent (N109.818 billion as against N110.281 billion in the previous month.
The local governments got 20.60 per cent (N84.665 billion as against N85.022 billion in the preceding month).
A total of N47.432 billion was shared out as 13 per cent derivation for the month as against N49.705 in the previous month.
The communiqué had it that the distributable statutory revenue for the month was N463.462 billion, while an augmentation of N3.545 billion brought the total statutory allocation to N467.007 billion.
Also distributed was N7.617 billion refunded by the Nigeria National Petroleum Corporation and N35.549 billion from the SURE-P.
According to the communiqué, the gross revenue of N651.265 billion was received for the month.
This was higher than the N581.059 billion received in the previous month by N70.206 billion.
The higher gross revenue, the document said, was due to the significant increase recorded in the Petroleum Profit Tax for the month of January as a result of upward review of estimates and payments by NNPC (PSC and MCA) and other oil companies.
The gross revenue available from the Value Added Tax for the month of January 2013 was N65.291 billion as against N57.535 billion distributed in the previous month.
This showed an increase of N7.758 billion.
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