The three tiers of government in the country shared N567.708 billion in December 2012.
The summary of the Federation Account revenue report issued by the Federation Account Allocation Committee showed that N7.617 billion refunded by the Nigeria National Petroleum Corporation was also shared in addition to N35,549 billion from the SURE-P.
The gross revenue of N581.059 billion was received for the month, which was higher than the N569.459 billion received in the previous month by N11.600 billion due to the higher export sales volume in November.
According to the report, the distributable statutory revenue for the month was N467.007 billion after N22.345 billion was transferred to Excess Oil Revenue Account.
For December 2012, the gross revenue available from the Value Added Tax was N57.535 billion as against N62.723 billion distributed in the preceding month, resulting in a decrease of N5.188 billion.
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