New Telegraph

774LGS Share N2.4 Trillion in 12 Months

The 774 Local Government Councils in the federation received a total of N2.4 trillion as statutory revenue allocation from January 2023 to January 2024, analysis of statutory revenue portion of the Federation Allocation Account Committee (FAAC) to local government councils showed.

Of the amount shared, the sum of N1.4 trillion was shared under the current administration of President Bola Ahmed Tinubu (June,2023 to January 2023) while the latter was disbursed under the previous government of President Muhammadu Buhari. In January 2023, the sum of N288.92 billion was shared as statutory revenue to the 774 Local Government Councils by FAAC.

It was N173.936 billion in February, N171.257 billion in March; April N160.60 billion, May allocation was N195.541 billion while the sum of N218.06 bil- lion was shared to the Councils as June allocation.

Similarly, July FAAC allocation to the Councils was N229.409 billion; August N266.538 billion, September, N74.62 billion; October N57.707billion; November N68.396 billion; December N258.810 billion while the sum of N288.9 billion was shared in January, 2024

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