FG, States, LGAs Share N651bn As June 2020 Allocation
Nigeria’s three federating units and other relevant agencies have shared 651.184 billion as allocation for June 2020, according to the the Federation Account Allocation Committee .
According to the statement, the decision followed FAAC’s monthly meeting for July 2020 which was held virtually and chaired by the Accountant General of the Federation, Ahmed Idris. “This brought the total revenue for the month to N696.184 billion. From this total, the sum of N45 billion was saved in the Excess Non-Oil Revenue Account and the balance of N651.184 billion was shared to the three tiers of government and relevant agencies.”
It also added that the gross revenue of N128.826 billion available from the Value Added Tax was higher than the N103.873 billion in the previous month by N24.953 billion.
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