A total sum of 1.203 trillion naira federation account revenue has been shared between the federal, states, and local government councils in the country.
The revenue was shared at the September 2024 meeting of the federation accounts allocation committee (FAAC) held in Abuja and chaired by the minister of finance and coordinating minister of the economy, Wale Edun.
Director of press and public relations at the office of the accountant-general of the federation, Bawa Mokwa, disclosed that from the 1.203 trillion naira total distributable revenue, the federal government received a total sum of 374.93 billion naira, the state governments received a total sum of 422.86 billion naira while the local government councils received a total sum of 306.53 billion naira and a total sum of 99.47 billion naira was shared with the benefiting states as derivation revenue.