FG, states, LGs share N812.76bn for November
The Federation Account Allocation Committee, FAAC, has shared the sum of N812.76 billion between the Federal, states and local governments in the country for the month of November.
A breakdown of the November allocation showed that the Federal Government got N326.75bn; the 36 states are to share N203.2bn while the 774 Local Government Councils are to share the sum of N153.52bn.
Also, the committee allocated the sum of N57.07bn to the oil producing states based on the 13 per cent derivation principle.
Read also: Saraki decries NNPC’s handling of fuel subsidy
According to the Permanent Secretary of the Ministry of Finance, Mahmoud Dutse, the gross statutory revenue for the month of November, was N649.62bn.
This figure is N32.53bn lower than the N682.16bn received in the preceeding month of October.
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