The Federation Account Allocation Committee (FAAC) has disbursed N966.1 billion in revenue among the Federal Government, States, and Local Government Councils (LGCs) for July, 2023.
According to the communiqué released after the August 2023 FAAC meeting, presided over by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, the breakdown of the distribution can be found below:
- Federal Government got N374.485 billion
- State Governments got N 310.670 billion
- Local Governments got N 229.409 billion
- Oil Derivation States (13% derivation revenue): N 51.545 billion