The Federation Account Allocation Committee-FAAC has shared the sum of 655.932 billion naira as of April 2023 Federation Account Revenue to the Federal, State, and Local Governments.
The details of the allocation was contained in a communiqué released by its Director, Press and Public Relations, Stephen Kilebi, at the end of the FAAC meeting for May 2023.
According to the release, the Federal Government received 248.809 billion naira, the states received 218.307 billion naira, and the local government councils got 160.600 billion naira, while the oil-producing states received 28.216 billion naira as 13% of mineral revenue.
It noted that Gross statutory revenue, value-added tax, exchange gain, electronic money transfer levies, and augmentations from forex and non-oil mineral revenue were part of the amount included in the allocation.