FG, states share N640 billion.

The Federation Accounts Allocation committee has announced that N639.9b has been shared by the Federal, States and Local governments for the month of September 2020.

The amount(N639.9b) was derived from statutory revenue of N341.501b, Value Added Tax revenue of N141.858b, while N39.542b was from foreign exchange equalisation.

In a meeting chaired by the Permanent Secretary Federal Ministry of Finance, a breakdown of the figure showed that the Federal Government received N255.748b, State governments – N185.645b and the Local Government Councils received N138.444b, respectively.

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