FAAC: FG,States,and Local govt. shares N635.826bn for November 2019

FAAC: FG,States,and Local govt. shares N635.826bn for November 2019

The Federation Accounts Allocation Committee (FAAC) has shared a total of N635.826 billion to the three tiers of government; federal, state,and local government for November 2019. This was announced at the FAAC meeting chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa-Dutse. The N635.826 billion was the total of revenues from the Statutory Revenue, Value Added Tax (VAT), Exchange Gain and Forex Equalization. The FAAC also disclosed that as at 18th December 2019, the balance in the Excess Crude Account was $324.539 million.…

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