FAAC: FG, States, LGs Share N954bn in July

The Federal Government, States and Local Government Areas shared a total of nine hundred and fifty four billion naira as July subvention, the Federation Account Allocation Committee, FAAC communique has revealed.

The total distributable revenue comprised distributable statutory revenue of seven hundred and seventy six billion naira and distributable Value Added Tax revenue of one hundred and seventy seven billion naira.

In July, the total deductions for cost of collection was fourty seven billion naira and total deductions for transfers, savings and refunds was two hundred and twenty five billion naira