The Federal, States and Local Governments distributed amongst each other the sum of N739.965 billion as Federation Accounts Allocation Committee (FAAC) for September.
This was made known in a statement by Mr Oshundun Olajide, Deputy Director (Information), Ministry of Finance, Budget and National Planning on Thursday, according to the News Agency of Nigeria.
The Ministry also revealed that the Gross Revenue available from VAT for September was N170.850 billion distributed in the preceding month, resulting in a decrease of N7.659 billion.
According to the statement, “From the N739.965 billion, inclusive of Value Added Tax (VAT), and Exchange Gain, the Federal Government received N301.311 billion, the states received N220.272 billion, the LGs got N164.176 billion.
It added that oil-producing states received N54.206 billion as derivation and also revealed that the Gross Revenue available from VAT for September was N170.850 billion distributed in the preceding month, resulting in a decrease of N7.659 billion.
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