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FAAC disburses N1.14tn to federal, state, local governments in April

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The Federation Account Allocation Committee, FAAC, shared N1.149.816 trillion in revenue with the federal, state, and local governments in April 2024. The Director of Press and Public Relations under the Office of the Accountant General of the Federation, Bawa Mokwa, disclosed this in a communique on Thursday after May's FAAC meeting.

The Federation Account Allocation Committee, FAAC, shared N1.149.816 trillion in revenue with the federal, state, and local governments in April 2024. The Director of Press and Public Relations under the Office of the Accountant General of the Federation, Bawa Mokwa, disclosed this in a communique on Thursday after May's FAAC meeting. The revenue was divided into distributable statutory revenue of N284.716 billion, distributable Value Added Tax, VAT, revenue of N466.

716 billion distributable statutory revenue, the communiqué stated that the Federal Government received N112.148 billion, the State Governments received N56.883 billion, and the Local Government Councils received N43.855 billion. The sum of N71.830 billion was shared with the benefiting States as derivation revenue. The Federal Government received N69.969 billion, the State Governments received N233.229 billion, and the Local Government Councils received N163.260 billion from the N466.

 

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