Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N722.38bn to the three tiers of government in March 2022 from the total revenue generated in February 2022. The amount disbursed comprised N457.03bn from the Statutory Account, N80.00bn from Non-oil Excess Account, N7.48bn as Excess Bank Charges, and N177.87bn from Valued Added Tax (VAT). The Federal Government received a total of N236.18bn from the N722.38bn, States and Local Governments received a total of N190.01bn and N140.61bn respectively. The sum of N51.10bn was shared among the oil-producing state…