The first FAAC meeting for 2021 was held virtually on Wednesday, where the FG, States and LGAs shared the sum of N619.34bn.
The figure represents the revenue for the month of December, which is higher than that of November with up to N8.2bn.
According to analysis by the spokesperson of the Federal Ministry of Finance, Budget and National Planning, Hassan Dodo, the FG received N218.297bn, States got N178.28bn, LGs had N131.792bn, and the oil-producing States got N32.827bn (13% derivation of mineral revenue). Also, the cost of collection/transfer and refunds gulped N59.147bn.
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