The Federation Account Allocation Committee on Thursday shared the sum of over N637.7billion naira among the three tiers of government.

The breakdown of the allocations showed that Federal Government received N273.095 billion, State Governments, N173.806 billion, and Local Governments got N131.044 billion.

The Accountant General of the Federation Alhaji Ahmed Idris while briefing news men in Abuja at the FAAC meeting, said the Gross Statutory Revenue for August 2017 was N550.992 billion, as against N387.319 billion received in July, indicating an increase of N163.673 billion.

He said there was a significant increase in revenue for August and the amount which is for statutory allocation for the month of August represents an increase of N169.9bilion naira.

He said revenue from VAT for August 2017 was N86.712 billion, against N80.533 billion in July 2017, resulting in an increase of N6.179 billion.

He also said Companies Income and Petroleum Profit Taxes as well as Import and Excise Duties also recorded significant increases.

He disclosed that increase, resulted largely from the significant increase in export volume by 0.85 million barrels.