Federal finance and statistics / National Bureau of Statistics

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

Executive Summary The Federation Account Allocation Committee (FAAC) disbursed the sum of N605.59bn to the three tiers of government in March 2021 from the revenue generated in February 2021 The amount disbursed comprised of N439.10bn from the Statutory Account, N157.33bn from Valued Added Tax (VAT), N8.65bn from FOREX Equalization and N0.52bn from Distribution of Excess Bank Charges. The Federal Government received a total of N205.16bn from the N605.59bn while States received a total of N166.08bn and Local Governments received N122.85bn. The sum of N37.14bn was shared among the oil producing …