FAAC: FG, states, LGs share N16tn in seven months as revenue

The Federal Government, 36 authorities governments and 774 section authorities councils shared a full of N15.997 trillion, oregon astir N16 trillion, successful gross from the Federation Account betwixt January and July 2026.

The fig roseate to N15.997 trillion pursuing the latest disbursement of N3.007 trillion for July, the highest monthly allocation recorded truthful acold this year.

The Federation Account Allocation Committee, FAAC, approved the July allocation astatine its gathering held successful Owerri, Imo State, according to a connection issued on Tuesday by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.

FAAC distributed N1.96 trillion successful January, N1.89 trillion successful February, N2.04 trillion successful March, N2.25 trillion successful April, N2.30 trillion successful May and N2.55 trillion successful June.

The full magnitude shared successful the archetypal six months of the twelvemonth stood astatine N12.99 trillion.

With the summation of the N3.007 trillion allocated successful July, full FAAC disbursements betwixt January and July accrued to N15.997 trillion.

The July allocation represents an summation of N457 billion, oregon 17.9 per cent, compared with the N2.55 trillion shared successful June.

Meanwhile, gross statutory gross roseate importantly to N4.359 trillion successful July from N3.700 trillion successful June, representing an incre...