FG, states, LGs share N673.137bn August allocation 

The Federation Account Allocation Committee (FAAC) has shared a total sum of N673.137 billion to the three tiers of government as federation allocation for the month of August, 2022.

According to a statement released on Friday by Phil Abiamuwe-Mowete,  Director (Information/Press), Federal Ministry of Finance, Budget and National Planning,  “from this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT) and an Augmentation of Non Oil Excess Revenue, the Federal Government received N259.641 billion, the states received N222.949 billion, the Local Government Areas got N164.247 billion.”

According to her, the communiqué issued by the Federation Account Allocation Committee (FAAC), at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for August 2022 was N215.266 billion, indicating an increase in the amount distributed in the preceding month.

The distribution is as follows: Federal Government got…

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