Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.44trn to the three tiers of government in January 2023 from the total revenue generated in December 2022. The amount disbursed comprised N1.14trn from the Statutory Account, N24.84bn from Exchange Gain for the month, N25.33bn from Electronic Money Transfer Levy (EMTL) and N250.51bn from Valued Added Tax (VAT). The Federal Government received a total of N375.31bn from the N1.44trn, States and Local Governments received a total of N299.56bn and N221.81bn respectively. The sum of N93.52bn was shared among…