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The Business NG - October 18, 2024

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FG, States, LGs Share N1.298trn September Revenue

The Federal Government, States, and Local Government Councils have shared a total sum of N1.298 trillion for the month of September 2024. This revenue distribution was announced at the October 2024 meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja.

According to the communiqué issued by FAAC, the total revenue of N2.258 trillion was available in September 2024. However, total deductions for cost of collection, transfers, interventions, and refunds amounted to N878.946 billion, leaving a net distributable revenue of N1.298 trillion.

The breakdown of the distribution shows that the Federal Government received a total sum of N424.867 billion, while the State Governments received N453.724 billion. The Local Government Councils received N329.864 billion, and a total sum of N90.415 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue

The Business NG Description:

Yayımcı: Tuns-Media-&-Comm-Enterprise

Kategori: Newspaper

Dil: English

Sıklık: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level