Petrol Subsidy Removal: All Tiers Of Government Set To Share Windfall

The Federal, state and local governments are set for a windfall from subsidy removal.

They received the highest allocations today from the Federation Account Allocation Committee (FAAC).

After sharing a total of N3.62 trillion from January to May 2023, FAAC is about to share an all-time high of N1.959 trillion.

It is the revenue generated last month alone, the full month after the May 29 removal of petrol subsidy.

Exactly N750.174 billion was shared with the three tiers of government in January. In February, N722.677 billion was shared. A total sum of N714.629 billion was disbursed in March.