Finance & EconomyNews

 FG Shares N736.782bn FAAC Revenue for October 2022

In October, the Federation Account Allocation Committee (FAAC) allocated N736.78bn to the FG and other federating units. The allocation is +5.21%, up from the N700.24bn for September 2022.  Further, comparing the FAAC allocations for October with that of September, Analysts observed that distributable statutory revenue declined by -16% hitting N417.724 bn. However, distributable value-added tax (VAT) revenue appreciated +12.2% to N213.283bn, while other non-oil-revenue also declined-29.02 % to hit N5.88bn (see chart 1 below).

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