FAAC: June Allocation Increases By 104billion Naira As Revenue Rises - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
July 20, 2020
The federation accounts allocation committee (FAAC) shared N651.18 billion to the three tiers of government for the month of June.
This is an increase of N104 billion disbursed for the month of May.
Henshaw Ogubike, director of information, press and public relations of FAAC, announced the figures in a statement in Abuja, on Sunday.
He said the disbursement was made during a virtual conference chaired by Ahmed Idris, the accountant general of the federation.
Giving the breakdown, Ogubike said the federal government received N266.13 billion, the state governments got N185.77 billion and the local government councils received N138.97 billion.
The federal allocation in May is the lowest since the beginning of this year — a clear effect of the COVID-19 pandemic on the economy.