FAAC Table: The Sharing of N418bn to FG, States, LGCs in May 2017

The Federation Account Allocation Committee (FAAC) shared a total sum of N418bn at its monthly meeting held in May 2017.

In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N163bn while the 36 States and FCT got N117bn and 774 Local Government shared N87bn.

Other recipients/beneficiaries of the allocation include Nigeria Customs Service (NCS) N3bn, Federal Inland Revenue Service (FIRS) N5bn, Department of Petroleum Resources N1.4bn. The sum of N3bn was transferred to Excess Crude Account, NCS/FIRS Refund N6.6bn while N30bn was for 13% Derivation Fund. The table of all the disbursement in the link, downloadable PDF below: FAAC Allocation May 2017

[pdf-embedder url=”//economicconfidential.com/wp-content/uploads/2017/08/FAACMay2017.pdf” title=”FAAC May 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)