The Federal Account Allocation Committee (FAAC) has distributed N700.235 billion to the three tiers of government as federation allocation for the month of September 2022.
The Federal Government received N262.636 billion from this amount, which included Gross Statutory Revenue, Value Added Tax, and Electronic Money Transfer Levy, the states received N217.191 billion, the Local Government Councils received N160.416 billion, and the oil-producing states received N59.992 billion as derivation (13 percent of mineral revenue).
The Federation Account Allocation Committee’s communiqué published at the end of the meeting said that the Gross Revenue available from the Value Added Tax for September 2022 was N189.928bn, a reduction from the previous month. The allocation is as follows: the federal government received N28.489 billion, the states received N94.964 billion, and local government councils received N66.475 billion.
As a result, the gross statutory income distribution of N502.135bn was larger than the total received in the previous month, from which the Federal Government received N232.921bn, States received N118.141bn, LGCs received N91.081bn, and Oil Derivation (13 percent mineral revenue) received N59.992bn.
