FG, States, LGs Share N619.343bn For December 2020
BY VICTOR BUORO, ABUJA – The Federation Accounts Allocation Committee on Wednesday shared a total sum of N619.343bn for the month of December 2020 to the three tiers of government.
According to the outcome of a virtual meeting by FAAC members, the Federal Government received N218.297bn; states received N178.28bn; Local Government councils got N131.792bn; while the oil-producing states received N31.827bn as 13 per cent derivation of mineral revenue.
Disclosing this a statement signed by the spokesman of the Federal Ministry of Finance, Budget and National Planning, Hassan Dodo, the cost of collection/transfer and refunds got N59.147bn.
The communique issued by the committee at the end of the meeting indicated that the gross revenue available from the Value Added Tax for December 2020 was N171.358bn as against N158.785bn that was distributed in November 2020, resulting in an increase of N14.572bn.
The statement further disclosed that the Federal Government got N23.904bn, states received N79.682bn, Local Government councils got N55.777bn, while cost of collection – FIRS and NCS got N6.854bn and allocation to NEDC project received N5.141bn.
