Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N1.22trn to the three tiers of government in July 2022 from the total revenue generated in June 2022. The amount disbursed comprised N1.01trn from the Statutory Account, and N208.15bn from Valued Added Tax (VAT). The Federal Government received a total of N321.86bn from the N1.22trn, States and Local Governments received a total of N245.42bn and N182.33bn respectively. The sum of N52.80bn was shared among the oil-producing states from the 13% derivation fund. The Revenue generating agencies comprising Nig…