FAAC shares N619.343bn to FG, States and LGAs as allocation for December 2020

The Federation Accounts Allocation Committee (FAAC) on Wednesday shared to the three tiers of Government; the Federal, State and Local Governments, the sum of  N619.343 billion as Federation allocation for December, 2020.

The Federal Government received N218.297 billion, the States N178.280 billion, the Local Government councils got N131.792 billion while the oil producing states received N31.827 billion as derivation (13% of Mineral Revenue) and Cost of Collection/Transfer and Refunds got N59.147billion. This amount includes cost of collection to Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR) and Federal Inland Revenue Service (FIRS).

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