The Federal Accounts Allocation Committee (FAAC) has disbursed N1.894 trillion as the February revenue allocation to the federal government, states, and local government areas.
The Federal Accounts Allocation Committee (FAAC) announced the disbursement of N1.894 trillion for February's revenue allocation. This amount is shared among the federal government, 36 states, and 774 local government areas in Nigeria. The allocation process follows the standard monthly procedure where FAAC meets to distribute gross revenue collected by federal agencies.
According to the report from ThisDayLive, this disbursement reflects the ongoing fiscal operations aimed at funding government activities at various levels. No specific breakdown of shares to each tier was detailed in the available information, but it underscores the routine financial flow in the country.
Such allocations are crucial for budgeting and service delivery across Nigeria, ensuring resources reach subnational governments for local development.