The Federation Accounts Allocation Committee (FAAC) has shared ₦547.309 billion to the three tiers of government as federation allocation for May, 2020.
The Federation Accounts Allocation Committee has shared ₦547.309 billion to the three tiers of government as federation allocation for May, 2020.
A communiqué by the Federation Account Allocation Committee at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax for May 2020 was ₦103.873 billion as against the ₦94.498 billion distributed in the preceding month of April, 2020, resulting in an increase of ₦9.377 billion.
The distributed Statutory Revenue of ₦413.953billion received for the month was higher than the ₦370.411 billion received for the previous month by ₦43.542 billion, with the Federal government pocketing ₦191.580 billon, States, ₦97.172 billion, Local Government Councils ; ₦74.915 billion.
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