Business FAAC: How FG, States, LGs Shared N386Bn Allocation For November

The Federation Accounts Allocation Committee has allocated a total of N386.9bn to the three tiers of government for the month of November.

The amount, when compared to the N420bn distributed in October, represents a decline of N33.1bn.

Addressing journalists shortly after the meeting, the Minister of Finance, Mrs. Kemi Adeosun, represented by the Accountant General of the Federation, Idris Ahmed,attributed the decline to a drop in crude oil export by 0.34 million barrels per day during the period under review.


The breakdown as follows:

- The Federal Government received N97.9bn, representing 52.68 per cent of the total available for sharing;

- The states got N49.6bn, representing 26.72 per cent; while

- Local governments received N38.2bn or 20.60 per cent of the amount distributed.

Related: FAAC: How FG, States, LGs Shared N455Bn Allocation For October
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