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abujagirl
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On Tuesday, the Federation Account Allocation Committee (FAAC) shared N409.354 billion between the federal, state and local governments.
LEADERSHIP reports the money shared was allocation for the month of May 2015. The federal government got N151.805 billion representing 52.68 per cent, states received N76.998 billion which represented 26.72 per cent and the local government councils received N59.362 billion which amounted to 20.60 per cent of the total allocation.
Other revenues distributed include Value Added Tax (VAT) of N56.821 billion. Out of this amount, the federal government got N8.182 billion which represented 15 per cent, states received N27.274 billion representing 50 per cent while the local government councils received N19.092 billion representing 35 per cent.
LEADERSHIP reports the money shared was allocation for the month of May 2015. The federal government got N151.805 billion representing 52.68 per cent, states received N76.998 billion which represented 26.72 per cent and the local government councils received N59.362 billion which amounted to 20.60 per cent of the total allocation.
Other revenues distributed include Value Added Tax (VAT) of N56.821 billion. Out of this amount, the federal government got N8.182 billion which represented 15 per cent, states received N27.274 billion representing 50 per cent while the local government councils received N19.092 billion representing 35 per cent.
