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Business How FG, States, LG Shared Allocation for June 2016

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Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, on Thursday said that the Federal Account Allocation Committee (FAAC) distributed the sum of N559.032 billion to the three tiers of government.

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The amount is the highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago.

Gross statutory revenue - N538.788 billion

Federal Government - N209.46 billion

State government - N133.671 billion

Local Government - N100.759 billion


According to the Minister, there was an increase in Crude oil export volume, Federal Export Revenue, Companies income Tax(CIT) and Petroleum Profit Tax (PPT).
 
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