FAAC disbursement drops N63bn to N616bn in May

The three tiers of government shared a total of N616.886 billion received from the federation accounts allocation committee (FAAC). 

This is the revenue from April as allocation for May.

Henshaw Ogubike, director of information, press and public relations, at the office of accountant general of the federation (OAGF), disclosed this in a statement on Friday.

Of the total revenue derived in April, the federal government, in May, received N244.011 billion, while the state and local government councils got N193.432 billion and N143.298 billion, respectively.

This figure shows a…