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FAAC: FG, States, LG Share N750bn in January

By Omotayo Toyeeb
The federal, state and local governments have shared N750.174 billion as Federation Allocation for January 2023.
According to the figure released by the Federation Account Allocation Committee (FAAC), at its meeting, the sum included the Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levies (EMTL), Augmentation from Non- Mineral Revenue, and an additional sum of N15.000 billion from Savings.
In a communiqué issued at the end of its latest meeting in Abuja on Monday, FAAC said the Federal Government received N277.334 billion, state governments received N244.975 billion, and the Local Government Councils got N180.135 billion. Similarly, the Mineral Producing States received N32.730 billion as Derivation (13% of Mineral Revenue).
The figure represents a decrease of N240.02bn compared to the N990.19bn shared in December 2022.
It was also noted that the gross revenue available from the Value Added Tax for January 2023 was N250.01bn, as against N250.51bn distributed in the preceding month, resulting in a decrease of N0.503bn.

Dare Akogun

Dare Akogun is a dynamic media innovator, strategic communication professional, and seasoned climate and environmental sustainability journalist with over 10 years of influential contributions to the media industry.

He Currently serving as the Head of Digital Media, Senior News Editor, and a presenter at Sobi FM 101.9, a leading radio station in Ilorin, Nigeria.

Dare is on a mission to leverage his media innovation expertise and project management skills to produce high-quality, accurate, and engaging content, while advocating for reduced fossil fuel consumption, especially coal, to combat effect of global warming.

He has covered comprehensively environmental issues and COP conferences, including COP28 in Dubai last year , COP 27 in Egypt, and the United Nations Least Developed Countries conference in Doha, in 2023.

He is a recipient of fellowship to be part of a 15 team of journalists selected worldwide to cover the Berlin Energy Transition Dialogue 2024.

He has a Master's Degree in Mass Communication, from the University of Lagos, a Bachelor's Degree in Journalism from the Lagos State University and also a
Certification in Business Administration and Management, from the Babson College, Massachusetts, United States of America.

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