The Federation Account Allocation Committee (FAAC), at its meeting shared a total sum of N655.932 billion to the three tiers of government as Federation Allocation for the month of April, 2023.
From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Augmentations from Forex and Non-oil Mineral Revenue, the Federal Government received N248.809 billion, the States got N218.307 billion, the Local Government Councils went home with N160.600 billion, while the Oil Producing States pocketed N28.216 billion as Derivation, (13% of Mineral Revenue).
Also, the Gross Statutory Revenue of N497.463 billion received for the month was lower than the sum of N638.673 billion received in the previous month of March, 2023.
From that amount, the sum of N18.793 billion was given for Costs of Collection and a total sum of N114.016 billion for Transfers and Refunds, while the remaining balance of N364.654 billion was distributed as follows: Federal Government was allocated the sum of N180.659 billion, States got N91.632 billion, LGs got N70.647 billion, and Oil Derivation (13% Mineral Revenue) got N21.716 billion
