Nigeria: FG, States, LGs Share N469.6 Billion

22 August 2007

Abuja — The federal, states and local governments, as well as, Federal Government agencies, yesterday, shared a total of N469. 606 billion as revenue which accrued to the Federation Account and proceeds of the Value Added Tax in the month of July which would be used for August expenditure.

An account presented to the Federation Accounts Allocation Committee (FAAC), by the Accountant-General of the Federation (AGF) Mallam Ibrahim Dankwambo, in Abuja, indicated that a total of N435.106 billion was raked into the federation account, while the proceeds from VAT in the stood at N32.500 billion.

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