The Federation Account Allocation Committee (FAAC) is set to share N1.9 trillion to the three tiers of government in July 2023.
The amount, according to a report by TheCable, is nearly triple the N786.161 billion shared in June and more than triple the N655.93 billion in May.
Allocations are usually shared from the preceding month’s revenue — meaning June will be shared in July.
FAAC will meet in Abuja on Wednesday to allocate the revenue to the tiers of government — federal, state and local — based on the sharing metrics.
Statutory collections make up N1.7 trillion of the federally collected revenues, followed by N293 billion from VAT and N12 billion from electronic money transfer charges.
