The rampaging COVID-19 pestilence has taken a toll on the Nigerian government’s finances, as Federation Accounts Allocation Committee (FAAC) recorded total revenue of N5.3 trillion between January and August 2020.

The total accrued revenue fell below the N5.4 trillion recorded during last year’s (2019) period under review.

Having earned N5.3 trillion from all the government parastatals, FAAC, according to the National Bureau of Statistics (NBS), paid N2.1 trillion to the Federal Government (FG), which represents a decline of 22 percent when compared to the N2.7 trillion it paid the FG last year.
Read more: https://newsrand.com/2020/10/02/faac-allocation-slumps-as-fg-lgas-states-share-n5-3trn/