Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.03trn to the three tiers of government in February 2023 from the total revenue generated in January 2023. The amount disbursed comprised N653.70bn from the Statutory Account, N115.00bn from Non-Oil Excess Account for the month, N13.80bn from Electronic Money Transfer Levy (EMTL) and N250.01bn from Valued Added Tax (VAT). The Federal Government received a total of N285.24bn from the N1.03trn, States and Local Governments received a total of N248.98bn and N183.23bn respectively. The sum of N32.73bn was s…