The Federal Government, states, and Local Government Areas shared N1.41tn in revenue for October 2024, an 8.7 per cent increase compared to the N1.298tn distributed for September.
This was disclosed in a press statement on Wednesday by the Director of Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, following the Federation Accounts Allocation Committee meeting held in Bauchi State.
The meeting, chaired by the Accountant General of the Federation, Dr Oluwatoyin Madein, took place after the 2024 National Council on Finance and Economic Development hosted by the Bauchi State Government.
The statement read, “A total sum of N1.411tn, being October 2024 Federation Accounts Revenue, has been shared to the Federal Government, States and the Local Government Councils.”
It revealed that the total gross revenue available for October 2024 was N2.668tn, up from N2.258tn in September. From this amount, N97.517bn was deducted for collection costs, while N1.159tn was allocated for transfers, interventions, and refunds.
Of the total distributable revenue, the Federal Government received N433.021bn, state governments N490.696bn, and local councils N355.621bn.
