The Federal, States and Local Government Councils have shared a total of N388.339 billion as Federal Allocation for the month of April, 2015.
A communiqué issued by the Federal Accounts Allocation Committee indicated that the Gross Revenue received for April, 2015 was N282.062 billion.
This amount when compared to the N315.044 billion received in March, 2015 showed a decline of N32.982 billion.
Frequent shut down and shut-in of trunks and pipelines at terminals has continued to impact negatively on crude oil revenue.
However, an increase in the average price of crude oil from $55.34 million in February, 2015 to $56.03 million in March brought about a $21.67 million gain in revenue.
Non-oil revenues performed better in April than in March, 2015.
Non-mineral revenue was N86.462 billion in March and increased to N101.592 billion in April, accounting for a gain of N15.130 billion.
The shared amount comprised the month’s statutory revenue of N282.062 billion and N6.330 billion refunded to the Federal Government by the Nigerian National Petroleum Corporation.
There is also exchange gain of N24.786 billion, which is proposed for distribution.
The total revenue distributable for the current month, including Value Added Tax, is N388.338 billion.
The distributable Statutory Revenue for April was N282.062 billion, while the Gross Revenue available from the Value Added Tax was N75.160 billion.
The total revenue distributable for the current month, VAT inclusive, is N357.222 billion.
From this amount, the Federal Government received N132.118 billion (52.68%), the State Government received N 67.012 billion (26.72%), the Local Government Councils got N51.663billion (20.60%), while the oil producing states received N 23.109 billion as 13% derivation revenue.