The Federation Account Allocation Committee (FAAC) has shared N906.9 billion October 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
In a communique yesterday, the Committee’s Director of Press and Public Relations, Bawa Mokwa said from the N906.955 billion total distributable revenue, the Federal Government received a total of N323.355 billion, the State Governments received N307.72 billion and the Local Government Councils received N225.209 billion.
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The communique also said the gross revenue available from the Value Added Tax (VAT) was N347.343 billion, which is higher than the N303.550 billion available in the month of September 2023 by N43.793 billion.
It added that gross statutory revenue of N 660.090 billion was received for the month of October 2023. This was lower than the N1,014.953 billion received in the month of September 2023 by N354.863 billion.
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