The Federation Accounts Allocation Committee (FAAC) has distributed N1.93 trillion in revenue to the Federal Government, state governments, and local councils for the month of November. The allocation was made after the FAAC meeting held in Abuja, according to the Federal Ministry of Finance.
Federal authorities said the allocations reflect economic activity and revenues available to the federation account, after statutory deductions for cost of collection and mandatory transfers.
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Officials did not provide details on specific state or local government shares but noted that resource producing states also receive additional derivation revenue from mineral output.
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