Nigeria’s 3 tiers of government share N672bn for October 2021

The Federation Accounts Allocation Committee (FAAC), has disbursed a total of N671.910 billion to the three tiers of government as allocation for the month of October 2021.

As contained in a communique issued at the end of the National Council on Finance and Economic Development conference on Wednesday, the Federal Government received N284.292 billion, the States received N209.838 billion, while the Local Government Councils got N156.282 billion. The oil-producing states received N21.498 billion as a 13 percent derivation of Mineral Revenue.

The allocation is inclusive of Value Added Tax (VAT), Augmentations, Exchange Gain and Non-Oil Mineral Revenue.