The Nation Newspaper FAAC shares N903.480bn to Fed, States, councils for September 2023
The Federation Account Allocation Committee has saved N289 billion into the non-oil account for the month of September 2023
According to the statement, N1.594 trillion accrued into the Federation Account for the month of September as revenue and from this amount, N903.480 billion was shared among the Federal and State Governments, and Local Government Councils. Notably, the gross statutory revenue for September 2023 stood at N1.014 trillion, showing an increase of N123.019 billion from the previous month of August, which saw a revenue of N891.934 billion.
The distributable VAT revenue of N282.666 billion saw the Federal Government receiving N42.400 billion, the State Governments receiving N141.333 billion, and the Local Government Councils receiving N98.933 billion.
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