Federal finance and statistics / National Bureau of Statistics

Federation Account Allocation Committee (FAAC) (June 2024 Disbursement)

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N2.32trn to the three tiers of government in June 2024 from the total revenue generated in May 2024. The amount disbursed comprised N1,223.89bn from the Statutory Account, N587.46bn from Ex change Gain for the month of May, N15.78bn from Electronic Money Transfer Levy (EMTL), and N497.66bn from Valued Added Tax (VAT). The Federal Government received a total of N365.81bn from the N2,324.79trn, States and Local Governments received a total of N388.42bn and N282.48bn respectively. The sum of N106.50bn was sh…