Federal finance and statistics / National Bureau of Statistics

Federation Account Allocation Committee (FAAC) (October 2023 Disbursement)

Key Highlights The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.59 trillion to the three tiers of government in October 2023 from the total revenue generated in September 2023. The amount disbursed comprised: N1.01 trillion recorded from the Statutory Account, N264.81 billion from Exchange Gain, N11.45 billion from Electronic Money Transfer Levy (EMTL), and N303.55 billion from Value Added Tax. The allocations to the three tiers of government for October 2023 were: Federal Government with a total of N320.54 billion States with a total of N287.07 billion, and Local Gov…