Federal, States, LGs Share N656.6bn from FAAC
Finance Minister
By Shipping Day Reporter
The federal government, states and local governments have shared the sum of N636.6bn for the month of April from the Federation Account Allocation Committee (FAAC).
The Director, Press and Public Relations, Office of the Accountant-General of the Federation, Henshaw Ogubikem said this was contained in a communiqué issued at the end of the Committee’s virtual meeting held on Thursday.
Ogubikem said the amount distributed include statutory revenue of N461.189 billion, distributable Value Added Tax (VAT) revenue of N166, 522bn, and N8.891bn as excess bank charges recovered and N20bn augmentation.
According to the communiqué, the federal government received N257.611 billion; states received N201, 256 billion while the sum of N149.251bn went to the local government councils.
The communiqué added that the sum of N48.485bn was shared to the relevant states as 13 per cent derivation revenue.
The federal government, states and local governments have shared the sum of N636.6bn for the month of April from the Federation Account Allocation Committee (FAAC).
The Director, Press and Public Relations, Office of the Accountant-General of the Federation, Henshaw Ogubikem said this was contained in a communiqué issued at the end of the Committee’s virtual meeting held on Thursday.
Ogubikem said the amount distributed include statutory revenue of N461.189 billion, distributable Value Added Tax (VAT) revenue of N166, 522bn, and N8.891bn as excess bank charges recovered and N20bn augmentation.
According to the communiqué, the federal government received N257.611 billion; states received N201, 256 billion while the sum of N149.251bn went to the local government councils.
The communiqué added that the sum of N48.485bn was shared to the relevant states as 13 per cent derivation revenue.
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