The Federation Account Allocation Committee (FAAC) has shared N906.9 billion October 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
This was contained in a communiqué issued at the end of the FAAC meeting for November 2023, according to a statement by its Director, Press and Public Relations, Bawa Mokwa on Wednesday.
“From the N906.955 billion total distributable revenue, the Federal Government received a total of N323.355 billion, the State Governments received N307.717 billion and the Local Government Councils received N225.209 billion,” the communique read.
While the gross revenue available from the Value Added Tax (VAT) was N347.343 billion, it was higher than the N303.550 billion available in the month of September 2023 by N43.793 billion.
