FAAC Table: The Sharing of N466bn to FG, States, LGCs in March 2017
The Federation Account Allocation Committee (FAAC) shared a total sum of N466bn at its monthly meeting held in March 2017.
In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N180bn while the 36 States and FCT got N116bn and 774 Local Government shared N87bn.
Other recipients/beneficiaries of the allocation include Nigeria Customs Service (NCS) N2.9bn, Federal Inland Revenue Service (FIRS) N4bn and FIRS Refund N6.3bn, Department of Petroleum Resources N1.7bn. The sum of N31.4bn was transferred to Excess Crude Account, while N35bn was for 13% Derivation Fund. The table of all the disbursements in the link, downloadable PDF below: FAAC Allocations March 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)