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FG, States, LGs Share N604.004bn In October

Federation Accounts Allocation Committee (FAAC)

The three tiers of governments shared N604.004bn as federation allocation revenue for October 2020.

The Federation Accounts Allocation Committee, chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Aliyu Ahmed announced the figure after its meeting yesterday.

The Federal Government received N220.751bn; the states, N161.825bn; the local governments, N120.588bn.

The oil producing states received N31.902bn as derivation (13% of mineral revenue); and cost of collection/transfer and refunds, N48.939bn.



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