FAAC Table: The Sharing of N426bn to FG, States, LGCs in December 2016
The Federation Account Allocation Committee (FAAC) shared a total sum of N426bn at its monthly meeting in December 2016.
In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N163bn while the 36 States and FCT got N110bn and 774 Local Government shared N82bn.
Other recipients/beneficiaries of the allocation include Nigeria Customs Service (NCS) N3.5bn, Federal Inland Revenue Service (FIRS) N5.2bn, Department of Petroleum Resources N1.2bn The sum of N33.6bn was transferred to Excess Crude Account, while N26bn was for 13% Derivation Fund. The table of all the disbursements in the link, downloadable PDF below: FAAC Allocations December 2016:
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NOTE: Since January 2007, the Economic Confidential, the authoritative, factual and accessible magazine has consistently published the monthly disbursements of revenues to the tiers of governments in Nigeria after the monthly technical and general meetings of the Federation Account Allocation Committee (FAAC)