FAAC Table: The Sharing of N430bn to FG, States, LGCs in January 2017
The Federation Account Allocation Committee (FAAC) shared a total sum of N430bnbn at its monthly meeting held in January 2017.
In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N168bn while the 36 States and FCT got N114bn and 774 Local Government shared N85bn.
Other recipients/beneficiaries of the allocation include Nigeria Customs Service (NCS) N3.5bn and Customs Refund of N79m; Federal Inland Revenue Service (FIRS) N5.6bn, Department of Petroleum Resources N2.5bn The sum of N23.8bn was transferred to Excess Crude Account, while N26.8bn was for 13% Derivation Fund. The table of all the disbursement in the link, downloadable PDF below: FAAC Figure January 2017.
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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)