FAAC Distributes N990.189 billion to the three Tiers of Government

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The Federation Account Allocation Committee, FAAC, has shared N990.189 billion to the three tiers of government for December 2022.

Director, Information/Press, for Ministry of Finance, Budget and National Planning, Phil Abiamuwe-Mowete, disclosed this to newsmen.

According to Abiamuwe-Mowete, the Federal Government received N375.306billion, States and the FCT received N299.557billion, while the 774 Local Government Councils got N221.807billion.

He added that the FAAC breakdown indicates Gross Revenue available from VAT for December 2022 was N250.512billion.

Written by: Helen Obih

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