The three tiers of government in the country have shared N57.895 billion for the month of November 2012.
A communiqué issued by the Technical Sub-Committee of the Federal Account Allocation Committee and signed by the Accountant-General of the Federation, J. O. Otunla, indicated that the gross revenue available from the Value Added Tax was N62.723 billion as against N64.767 in October resulting in a decrease of N2.044 billion.
According to the communiqué, the gross revenue for the month was N569.459 billion, which was lower than the N640.766 billion received in the previous month by N71.307 billion.
The shortfall was attributed to the severe disruptions in crude oil production and lifting operations during the period as a result of Force Majeure declared by Exxon Mobil, leakage and fire outbreaks at Trans Niger as well as crude oil theft and maintenance work at Qua Iboe, Brass and Forcados Terminals.
The distributable statutory revenue for the month was N407.868 billion and an augmentation of N59.138 billion as a result of the shortfall in revenue for the month.
Also distributed was N7.817 billion refunded by NNPC and N35.549 billion from the Subsidy Reinvestment Programme.
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