The federal government, 36 states, and 774 local government councils in the country on Thursday shared N786.16 billion as revenue allocation for the month of May.
The Federation Account Allocation Committee (FAAC) disclosed this in a communiqué issued at the end of its meeting chaired by the Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, in Abuja.
According to FAAC, the total distributable revenue comprised statutory revenue of N519.545 billion and Value Added Tax (VAT) revenue of N251.607 billion.
