FAAC: Three tiers of government shared N604bn in Oct 2020

The Federation Account Allocation Committee (FAAC) doled out N604 billion to the three tiers of government in November 2020 from the revenue generated in October of the year
The breakdown was stated by FAAC:s  report  for the month of November 2020, released by the National Bureau of Statistics (NBS) recently
The report stated that the monthly disbursement went down by 5.6% compared to N639.9 billion shared in October 2020 and 11.4% lower than N682.1 billion disbursed in September 2020.
Acccording to the breakdown, the Federal Government received lion share of N231.29 billion from the tStates received a total of N167.17 billion and Local governments received N124.71 billion. The sum of N31.90 billion was shared among the oil-producing states as 13% derivation fund.
Agencies that generate revenue such as  such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Department of Petroleum Resources (DPR) received N5.19 billion, N10.17 billion, and N3.87 billion respectively
The sum of N158.21 billion was given to to the FGN consolidated revenue account; N4.05 billio