Federal finance and statistics / National Bureau of Statistics

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

Key Highlights The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.89 trillion to the three tiers of government in July 2023 from the total revenue generated in June 2023. The amount disbursed comprised: 11 trillion recorded from the Statutory Account, 39 billion from Exchange Gain Allocation, 91 billion from Electronic Money Transfer Levy (EMTL), and 41 billion from Value Added Tax The allocations to the three tiers of government for July 2023 were: Federal Government with a total of N345.56 billion States with a total of N295.95 billion, and Local Governments with a to…