The Federation Accounts Allocation Committee, FAAC shared a total of six hundred and six point one nine six billion naira to the three tiers of government as allocation for the month of April 2020.

This was made known through Virtual Conferencing, chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa-Dutse.

He said out of the total amount, the Federal Government received N169.831 billon, the States received N86.140 billion and Local Government councils got N66.411 billion, while the oil producing states received N32.895 billion as derivation.
The Gross Revenue available from the Value Added Tax, VAT for April 2020 was N94.495 billion as against the N120.268 billion distributed in the preceding month of March 2020, resulting in a decrease of N25.772 billion

The permanent secretary therefore stated that the distributed Statutory Revenue of N370.411billion received for the month was lower than the N597.676 billion received for the previous month by N227.265 billio


Please enter your comment!
Please enter your name here