The Federation Account Allocation Committee (FAAC) is expected to share N1.959 trillion being revenue generated in June 2023 among the Federal, State and Local Governments tomorrow.
Some reports suggested that statutory collections make up N1.7 trillion of the federally collected revenues, followed by N293 billion from Value Added Tax (VAT) and N12 billion from electronic money transfer charges.
This was affirmed by Senior Special Assistant Media and Publicity to the President, Temitope Ajayi who explained that this would be the first time in history that such a figure would be shared.
He said the implication of the move was more money to pursue real development in the country.
