Federal finance and statistics / National Bureau of Statistics

Federation Account Allocation Committee (FAAC) (August 2021 Disbursement)

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N824.22bn to the three tiers of government in August 2021 from the revenue generated in July 2021. The amount disbursed comprised of N670.63bn from the Statutory Account, N151.13bn from Valued Added Tax (VAT) and N2.46bn from Exchange Gain difference. The Federal Government received a total of N321.23bn from the N824.22bn while States received a total of N222.51bn and Local Governments received N166.56bn. The sum of N50.42bn was shared among the oil producing states from the 13% derivation fund. The Reven…