The Federation Accounts Allocation Committee (FAAC) has shared a total of N681.33 billion as March 2021 federation revenue to the Federal, States and Local Governments Councils and relevant Agencies in the country. In the month of March 2021, N154 billion was transferred to the non oil revenue savings and the balance in the Excess Crude Account (ECA) was $ 72.413 million. This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for April 2021. The gross statutory revenue for the month of March 2021 was N466.687 billion, Value Added Tax (VAT) revenue was N181.712 billion and Exchange Gain was N2.931billion. The sum ofbillion was added as augmentation, bringing the total distributable revenue to N681.330 billion. The communiqué indicated that from the total distributable revenue, the Federal Government received N212.146 billion, the State Governments received N179.242 billion, and the Local Government Counci...
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