FAAC Shares ₦1,152.756bn February 2024 Revenue To FG, States And LGCs

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The Federation Account Allocation Committee has shared a total sum of N1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils.The revenue was shared at the March 2024 meeting of the Federation Accounts Allocation Committee chaired by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun.

Total revenue of N2,326.149 billion was available in the month of February 2024. Total deduction for cost of collection was N66.456 billion; total transfers, interventions and refunds was N856.937 billion and savings was N250.000 billion. The communiqué stated that from the N1,152.756 billion total distributable revenue, the Federal Government received a total of N352.409 billion, the State Governments received N366.950 billion and the Local Government Councils received N267.153 billion.From the N101.349 billion distributable statutory revenue, the Federal Government received N7.351 billion, the State Governments received N3.729 billion and the Local Government Councils received N2.875 billion. The sum of N87.

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