Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.26trn to the three tiers of government in August 2022 from the total revenue generated in July 2022. The amount disbursed comprised N1.07trn from the Statutory Account, and N190.26bn from Valued Added Tax (VAT). The Federal Government received a total of N406.61bn from the N1.26trn, States and Local Governments received a total of N281.34bn and N210.62bn respectively. The sum of N55.52bn was shared among the oil-producing states from the 13% derivation fund. The Revenue generating agencies comprising N…