FG, States, LGs Share N954bn July Allocation – THISDAYLIVE

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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 Wednesday 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).

The statement indicated that the Gross Revenue available from the VAT for July was N177.167 billion which was a decrease distributed in the preceding month.

“The distribution is as follows; Federal Government got N26.575 billion, the States received N88.584 billion, Local Government Councils got N62.008 billion.

 “Accordingly,  the…



Source: Thisday Newspaper