The Digest:
Nigeria's three tiers of government receive another massive revenue allocation as the Federation Account Allocation Committee distributes over N2 trillion for October, maintaining fiscal flows amid ongoing economic recalibration.
Key Points:
- FAAC distributed N2.09 trillion to the FG, states, and LGAs for October
- Allocation decreased by N9 billion (0.42%) from September's N2.10 trillion
- Distributable revenue comprised N1.37 trillion statutory revenue
- VAT contributed N670.30 billion, EMTL added N47.87 billion
- The Federal Government received N758.40 billion from the total allocation
- States got N689.12 billion, LGAs allocated N505.80 billion
- N141.35 billion (13% mineral revenue) shared as derivation to oil-producing states
Sources: The Cable
