FG, States, LGCs Shares N954.085bn For July – FAAC

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The Federation Account Allocation Committee (FAAC), has shared N954.085 billion to the three tiers of government, as federation allocation for July.

This is according to a statement signed by Mr Phil Abiamuwe-Mowete, the Director (Information/Press) on Thursday in Abuja.

From the amount, the Federal Government received N406.610 billion, the states received N281.342 billion, the Local Government Councils got N210.617 billion.

This was inclusive of Gross Statutory Revenue and Value Added Tax (VAT).

It said that the oil producing states received N55.515 billion as derivation (13 per cent of Mineral Revenue).

It said that total revenue distributable for the current month of July was drawn from Statutory Revenue of N776.918 billion.

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