NBS Report: Allocation drops 6.2% as FAAC disbursed N639.9bn in October

States received over N2trn in bailouts from Buhari administration

The Federal Account Allocation Committee (FAAC) disbursed a sum of N639.9 billion to the three tiers of government in October 2020 from the revenue generated in September 2020. This is contained in the latest monthly FAAC disbursement report, released by the National Bureau of Statistics (NBS) and analysed by Business Metrics. The report indicated 6.2 per cent drop in the monthly disbursement compared to N682.1 billion shared in September and 5.4 per cent decline compared to N676.4 billion shared in August 2020. Further breakdown of the NBS report shows that Federal…

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