FAAC: Here’s what FG, states, LGAs shared in June 2020
The Federation Account Allocation Committee (FAAC) disbursed the sum of N547.31bn to the three tiers of government in June 2020 from the revenue generated in May 2020.
The amount disbursed comprised of N413.95bn from the Statutory Account, N103.87bn from Valued Added Tax (VAT), N1.01bn from Excess Bank Charges Recovered for the Month and N28.47bn Exchange Gain Differences.
Federal Government received a total of N219.80bn from the N547.31bn. States received a total of N152.47bn and Local governments received N114.09bn. The sum of N37.02bn was shared among the oil-producing states as 13% derivation fund.
