The Federation Account Allocation Committee (FAAC) has shared 722.677 billion Naira for February 2023 Federation Account Revenue to the Federal Government, States, and Local Government Councils.
A statement by its Director, Press and Public Relations, Bawa Mokwa, says this was contained in a communiqué issued at the end of the FAAC meeting, noting that from the total distributable revenue of N722.677 billion Naira, the Federal Government received N269.063 billion naira, the State Governments received N236.464 billion naira and the Local Government Councils received N173.936 billion naira. A total sum of N43.214 billion naira was shared with the relevant States as 13 percent derivation revenue.
According to the statement, Gross statutory revenue of N487.106 billion naira was received for the month of February 2023, adding that it is lower than the sum of N653.704 billion naira received in the previous month.
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