December Allocation:FAAC Shares N812bn to Tiers of Govt

A total of N812.762 billion has been distributed as Federal Allocation for the month of November 2018 between the Federal, States and Local Government Councils.

The communiqué issued by the Technical Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of its December meeting, indicated that the Gross statutory revenue received was N649.629 billion. This sum is lower than the N682.161 billion received in the previous month by N32.533 billion.

Breakdown of the total distributable revenue of N812.762 billion, comprised the Statutory Revenue of N649.629billion, Gross Value Added Tax of N92.079billion, Forex Equalisation of N70.000 billion and An Exchange Gain of N1.055 billion.

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