In March 2023, the Federation Account Allocation Committee declared that N714.63 billion will be distributed across the three levels of government.
FAAC disclosed this in a communiqué issued at the end of its latest meeting in Abuja on Wednesday.
This is a N8.05bn drop from the N722.68bn shared in February 2023.
The total consists of gross statutory revenue, VAT, and electronic money transfer charges.
The Federal Government received N276.14 billion, the states received N232.13 billion, and local government councils received N171.26 billion as derivation (13 percent of mineral revenue), while oil-producing states received N35.1 billion.
