FAAC Table: The Sharing of N514bn to FG, States, LGCs in February 2017
The Federation Account Allocation Committee (FAAC) shared a total sum of N514bn at its monthly meeting held in February 2017.
In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N200bn while the 36 States and FCT got N128bn and 774 Local Government shared N96bn.
Other recipients/beneficiaries of the allocation include Nigeria Customs Service (NCS) N3.5bn, Federal Inland Revenue Service (FIRS) N5.9bn, Department of Petroleum Resources N2.3bn. The sum of N42.5bn was transferred to Excess Crude Account, while N34bn was for 13% Derivation Fund. The table of all the disbursements in the link, downloadable PDF below: FAAC Allocations February 2017.
[pdf-embedder url=”//economicconfidential.com/wp-content/uploads/2017/08/FAACFeb2017.pdf” title=”FAAC February 2017″]
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)