FAAC: FG, States, LGs share N547.3bn for May [Breakdown] - Daily Post Nigeria

FAAC: FG, States, LGs share N547.3bn for May [Breakdown]

Chaired by the Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, FAAC shared N547.309 billion to the three tiers of government for May 2020.The Federal Government received N219.799 billion, States N152.436billion, Local Governments N114.095billion, while oil producing states received N37.021billion as derivation .

The Gross Revenue available from the Value Added Tax for May 2020 was N103.873 billion as against the N94.498 billion distributed in the preceding month of April, 2020, resulting in an increase of N9.377 billion.The Federal Government got N14.490 billion; States N48.301 billion; Local Governments N33.811billon; while derivation got N0.000 and Cost of Collection/FIRS Refund/Allocation to NEDC got N7.271billion.

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