The three levels of government divided N673.137 billion in federation allocation for August, according to the Federation Account Allocation Committee.
This was said in a statement released on Friday by the director of information and press, Mr. Phil Abiamuwe-Mowete.
According to the announcement, the Federal Government received the largest portion of N259.641 billion, followed by the States with N222.949 billion and Local Government Councils with N164.247 billion.
The entire revenue distributable for the month of August was further stated to be made up of statutory revenue totaling N437.871 billion and VAT totaling N215.266 billion.
Additionally, N20 billion from Non Oil Excess Revenue was added to the revenue, bringing the total distributable for the month to N673.137 billion.
On the other hand, as of September 23, 2022, there were 470,599.54 million USD left in the Excess Crude Account.
