​Payout by FAAC well below target
The total monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government in February (from January revenues) declined marginally to N370bn (US$1.88bn) from N388bn the previous month. The net distribution from the federation account and the VAT pool combined is projected at N5.72bn this year in the expenditure framework for 2016-18. We can see that the payout in both January and February fell far short of the projected pro rata monthly average of N477bn.
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