FAAC: FG, states, LGs share N740.880bn for August

Rising from the Federal Account Allocation Committee, federal government, states and local government councils have shared  N740.880 billion as federal allocation for August 2019.

According to the communique released at the end of the meeting, Federal Government received N301.804 billion, representing 52.68 per cent; the states, N188.925 billion, representing 26.72 per cent and local government councils, N142.654 billion, representing 20.60 per cent; while oil producing states received N43.513 billion as 13 per cent derivation revenue.

However, cost of collection/Transfers/ FIRS, refund stood at N43.984 billion.

 

Daily Trust

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