The federation account allocation committee (FAAC) says it shared N907.05 billion among the three tiers of government in June 2023.
shared in May 2023.
From the total distributable revenue of N907.05 billion; FAAC said the federal government received N345.56 billion, states got N295.95 billion, and local governments collected N218.06 billion.A total sum of N47.48 billion was shared with the relevant states as 13 percent derivation revenue. From the balance of N301.50 billion distributable statutory revenue, the committee noted that the federal government got N146.71 billion, states received N74.41 billion, while the remaining N57.370 billion was given to local governments.More so, the sum of N23 billion was shared with the relevant states as 13 percent derivation revenue, the revenue group noted.
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