In October, the three levels of government divided N736.782 billion in total. The relevant States received a total of N26. 228 billion as a 13 percent derivation income share.
Value Added Tax (VAT) total receipts for the month of October 2022 were N229.041 billion.
In order of receiving the N5.775 billion from the Exchange Gain revenue, the Federal Government received N2.707 billion, the State Governments received N1.373 billion, the Local Government Councils received N1.058 billion, and the relevant States received N0.637 billion as 13 percent derivation revenue.
Value Added Tax (VAT) and Companies Income Tax (CIT) climbed dramatically in the month of October 2022, while Oil and Gas Royalties, Petroleum Profit Tax (PPT), and Import Duty decreased.