It was lower than the N596.041 billion received in the previous month by N104.166 billion. A communique issued by the Federation Account Allocation Committee (FAAC) indicated that from the total revenue of N635.826 billion, the Federal Government received N267.883 billion, the States received N172.569 billion, and the Local Government Councils received N129.972 billion. The Oil Producing States received N49.124 billion as 13% derivation revenue and the Revenue Generating Agencies received N16.277 billion as cost of revenue collection. From the Value Added Tax (VAT) revenue of N90.166 billion, the Federal Government received N12.984 billion, the States received N43.280 billion, the Local Government Councils received N30.296 billion and the Revenue Collecting Agencies received N3.606 billion. From the Forex Equalisation revenue of N53 billion, the Federal Government received N24.290 billion, the States received N12.321 billion, the Local Government Councils received N9.499 billion and the Oil Producing States received N6.890 billion as 13% derivation revenue.

Source: Nigerian Tribune December 18, 2019 19:07 UTC