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FG, states, LGs shared N639.9bn in September

The three tiers of government shared a total of N639.9bn from the Federation Account in September 2020, the Federation Accounts Allocation Committee announced on Thursday.

FAAC announced this after its October 2020 meeting which was chaired by the Permanent Secretary, Federal Ministry of Finance, Aliyu Ahmed, at the headquarters of the ministry in Abuja.

The N639.901bn comprised statutory revenue of N341.501bn; Value Added Tax revenue of N141.858bn; and N39.542bn from foreign exchange equalisation.

Others include N45bn from non-oil excess revenue and N72bn Federal Government intervention revenue.

In a communique issued by the committee, it stated the Federal Government received N255.75bn, state governments got N185.65bn, while the Local Government Councils received N138.44bn.

It added that N36.19bn was disbursed to oil mineral producing states as 13 per cent mineral revenue, while cost of collection and transfers got N23.88bn.

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