Oyo state government received a total of N2.7 billion as statutory allocation from the federation account in April for the revenue generated in March 2018, insideoyo.com can report.
The National Bureau of Statistics, NBS, report seen by insideoyo.com, showed that the Federation Account Allocation Committee (FAAC) disbursed the sum of N638.09bn to the three tiers of government in April 2018 from the revenue generated in March 2018.
The amount disbursed comprised of N480.59bn from the Statutory Account, N62.53bn from FOREX Equalisation, N11.27bn from NNPC and N83.70bn from Valued Added Tax (VAT).
Federal Government received a total of N268.27bn from the N638.09bn shared. States received a total of N170.13bn and Local Governments received N128.32bn. The sum of N55.98bn was shared among the oil producing states as 13% derivation fund.
The further breakdown of revenue allocation to Oyo state shows that the Abiola Ajimobi-led administration also received additional distributions from forex equalisation and NNPC to net a total of N4.54 billion as total net allocation for the period under review, insideoyo.com gathered.
