FAAC Monitor: FG, States and LGs share N462.4 billion in May

by YWriter

Federal government, states and local government shared a total of N462.359 billion for the month of May. This is considered to be an increase compared to the N415.7 billion distributed for Apil.

Further breakdown showed that Value Added Tax accounted for 76.786 billion; statutory revenue, N317.562 billion, and exchange rates differential of N64.812 billion.

The Federal government received N147.68 billion which is 52.68 per cent; state governments N74.91 billion which is 26.72 per cent; while local governments got N57.75 billion, which is 20.6 per cent. N20.505 billion went to the oil- producing areas as 13 per cent derivation.


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