Federation Accounts Allocation Committee (FAAC) shared a total of N682.060bn August 2020 federation account revenue to Federal, states and local governments and agencies. The gross statutory revenue of N531.830 billion received for August 2020 was lower than the N543.788 billion received in the previous month by N11.958 billion. From total distributable revenue of N682.060bn, the Federal Government received N272.905 billion, state governments shared N197.648 billion while 774 local government councils jointly shared N147.422 billion. Federal Government received N251.948 billion from the gross statutory revenue of N531.830 billion; the State Governments received N 127.791 billion and the Local Government Councils received N98.522 billion. The Federal Government received N20.957 billion from the Value Added Tax (VAT) revenue of N150.230 billion.

Source: Nigerian Tribune September 17, 2020 18:00 UTC