In January 2020, the Federation Account Allocation Committee (FAAC) disbursed the sum of N716.30bn to the three tiers of government from the revenue generated in December 2019.
The amount disbursed comprised of N600.31bn from the Statutory Account, N114.81bn from Valued Added Tax (VAT), and N1.18bn Exchange Gain Allocation.
Federal Government received a total of N287.93bn from the N716.30bn. States received a total of N191.30bn while local governments received N143.70bn.
Oil-producing states received the sum of N50.28bn as 13% derivation fund.
