This is the first revenue shared among the three tiers of government after the Supreme Court granted financial autonomy to local governments.
A total sum of N1.354 trillion June 2024 Federation Accounts Revenue has been shared with the Federal Government, States and Local Government Councils in the country.The revenue was shared at the July 2024 meeting of the Federation Accounts Allocation Committee , held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Total revenue of N2,483.890 billion was available in June 2024. The total deduction for the cost of collection was N92.112 billion while total transfers, interventions and refunds were N1,037.407 billion. The communiqué states that from the N1,354.371 billion total distributable revenue, the Federal Government received a total sum of N459.776 billion, the State Governments received a total sum of N461.979 billion and the Local Government Councils received a total sum of N337.019 billion.On the N142.514 billion distributable statutory revenue, the communiqué stated that the Federal Government received N48.952 billion, the State Governments received N24.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Expect more river flooding, FG warns states, LGsThe Federal Government has warned states and local government areas to brace up for increased river flooding as the country enters the peak of the rainy season.
Read more »
Expect more river flooding- FG warns Lagos, Anambra, other states, LGsThe Federal Government has warned states and local government areas to brace up for increased river flooding as the country enters the peak of the rainy season.
Read more »
Consider LGs for GDP growthThe Nation Newspaper Consider LGs for GDP growth – NULGE
Read more »
UPDATED: Supreme Court orders direct payment of statutory allocations to LGsThe Nation Newspaper UPDATED: Supreme Court orders direct payment of statutory allocations to LGs
Read more »
Tinubu made history with financial autonomy for LGs- KarimiThe Nation Newspaper Tinubu made history with financial autonomy for LGs- Karimi
Read more »
Breaking: Fubara directs admins to oversee Rivers LGs as chairmen’s tenure expireRivers Governor Fubara has directed Heads of Local Government Administration to immediately take charge of their respective councils, following the expiration of the tenure of 23 Local Government Chairmen, Vice Chairmen, and Councillors.
Read more »