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FG, states, LGAs shared N1.1trn in March, down by N30bn — FAAC
The federation account allocation committee (FAAC) says the
three tiers of government shared N1.12 trillion in March 2024.
The figure represents a decrease of N30 billion compared to
the N1.15 trillion shared in February 2024.
FAAC announced the figures on April 19 in a communique
issued by Bawa Mokwa, director of press and public relations in the office of
the accountant-general of the federation (OAGF).
According to the communique, the country had a total of N1,123,391,000,000 as distributable revenue —
which comprises distributable statutory revenue of N311.23 billion,
distributable value-added tax and revenue of N511 billion, electronic money
transfer levy (EMTL) revenue of N14 billion, and exchange difference revenue of
N285 billion.