FAAc said that from the N1.127 trillion, the federal government received N383.872 billion, States got N396.693 billion and the LGCs N288.928 billion.
This shows that the government is out to inflict pain on Nigerians.
According to the communique, a total revenue of N1,346.519 trillion was available in October 2023.
According to the minister, the subsidy regime eroded revenues that should have been available to fund viable expenditures.
It also comprised an exchange difference revenue of N283.904 billion.
The farmers said the measure would enhance wealth creation and food security.
The communiqué stated that the N786.161 billion total distributable revenue comprised statutory revenue of N519.545 billion and Value Added Tax (VAT) revenue of N251.607 billion.
The Federation Account Allocation Committee has given N655.932 billion in revenue for April to the federal, state and local governments.
FAAC also stated that the Excess Crude Account balance as of January 17 stood at $473,754.57.
The ECA, a fund that warehouses oil revenue in excess of the budget benchmark of crude oil prices, was paid quarterly from the FAAC to the state.
