There is no going back on the supposed instructions by the 36 states governors for withdrawal of $1 billion from the excess crude revenue account for the fight against Boko Haram, despite dissent by Ekiti State counterpart, Ayo Fayose, the Accountant General of the Federation, AGF, Ahmed Idris, said Saturday.
Mr. Idris was speaking in Abuja at the special Federal Accounts Allocation Committee meeting for December where members resolved to share a total of N609.96 billion for the month.
The meeting was held a week earlier than usual to allow the three tiers of government pay their workers on time before the coming Christmas season and New Year celebrations.
Giving details of the allocations, Mr. Idris said gross statutory revenue stood at N549.5 billion, which was higher by N106.5 billion than about N443.05 billion realized in October.
The AGF said there was a decrease of about $69.49 million in revenue due to a reduction in crude oil production for the month by about 1.75 million barrels.
However, with average crude oil price increase from $48.66 per barrel to $52.07, the AGF said, made up for the shortfall, with the country earning extra $3.41 from every barrel of oil exported for the month.
He identified facility maintenance, sabotage and force majeure declared at the Bonny export terminal by Shell as some of the issues that negatively impacted crude oil production during the month.
On non-oil revenue, he noted a significant increase in earnings from import duty, company income tax, CIT, and Royalty.
The balance in the Petroleum Profit Tax, PPT account stood at about $133 million, while Value Added Tax, VAT revenue was about N77.209 billion, from N80.42 billion, after deduction of cost of collection by the relevant agencies.