Nigeria’s revenue shrinks by N184.2b

Revenue shared by Nigeria’s Federal, states and local governments slumped to N467.8 billion in August, N184.2 billion less than the N652 billion shared in July.

Kemi Adeosun, minister of finance said the shared amount was inclusive of Value Added Tax (VAT) of N80.53 billion.


In the breakdown of revenue given by her representative, Permanent Secretary, Mr Mahmoud Dutse, at the end of the monthly Federation Account Allocation Committee (FAAC) meeting on Tuesday in Abuja, Gross statutory revenue was put at N387.31 billion.