The Federation Account Allocation Committee (FAAC), has shared the sum of N788.139 to the Federal,States and Local Governments as revenue for October.
The three tiers of government on Wednesday, shared the total revenue distributable for the month of October including Value Added Tax and Exchange Gain Difference totaling N788.139 billion.
The distributable statutory revenue for the month of October is N682.161 billion.
The gross statutory revenue of N682.161 billion received for the month was higher than the N569.281 billion received in the previous month by N112.880 billion.
Crude oil export sales increased by 0.82 million barrels resulting in increased revenue to the federation by $54.19m.
The next Federation Account Allocation Committee (FAAC) meeting has been proposed for Wednesday 19th and Thursday, 20th December, 2018 at the auditorium of the ministry.