FAAC: Nigeria FG, States, LGs Share N954bn

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The Federation Account Allocation Committee, on Wednesday, said it shared N954.09n to the three tiers of government; as allocation for July, 2022.

This was in a communiqué by the Director of Information/Press, FAAC, Phil Abiamuwe-Mowete.

 He said from the amount which included, Gross Statutory Revenue and Value Added Tax; the Federal Government received N406.61bn, states received N281.34bn, Local Government Councils got N210.62bn; while the oil producing states received N55.515bn as derivation (13 per cent of mineral revenue).

The communiqué also indicated that the gross revenue available from VAT for July 2022 was N177.167bn; which is a decrease distributed in the preceding month.

The communiqué read in part, “From this stated amount, inclusive of gross statutory revenue and Value Added Tax; the Federal Government received N406.61bn, states received N281.342bn, Local Government Councils got N210.617bn, while the oil producing states received N55.52bn as derivation (13 percent of mineral revenue).

Punch.

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