Federal finance and statistics / National Bureau of Statistics

Federation Account Allocation Committee (FAAC) (December 2022 Disbursement)

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.18trn to the three tiers of government in December 2022 from the total revenue generated in November 2022. The amount disbursed comprised N938.62bn from the Statutory Account, N7.16bn from Exchange Gain for the month of December, N11.43bn from Electronic Money Transfer Levy (EMTL), and N217.83bn from Valued Added Tax (VAT). The Federal Government received a total of N358.51bn from the N1.18trn, States and Local Governments received a total of N272.48bn and N202.49bn respectively. The sum of N68.57bn wa…