A sum of N547.3bn was distributed among FG, States and LGAs by the Federal Account Allocation Commitee in June 2020 as monthly allocation derived from revenue generated in May 2020.
For May, a monthly allocation of N606.2bn was distributed among all tiers indicating a 9.7 per cent drop when compared to June's allocation. Also, a 29.9 per cent decline was indicated when compared to the N780.93bn shared in April.
According to FAAC disbursement data released by the National Bureau of Statistics, the amount disbursed comprised of N413.95bn from the Statutory Account, N103.87bn from Valued Added Tax, N1.01bn from Excress Bank charges recovered for June and N28.47bn Exchange Gain Differences.
The total sums of N219.80bn, N152.47bn, N114.09bn were recieved by FG, States and LGAs respectively.
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