The Federation Accounts Allocation Committee (FAAC) has distributed a total of N1.727 trillion to the Federal Government, State Governments, and Local Government Councils from November 2024 Federation Accounts Revenue.
Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF), disclosed this in a statement issued this evening. The allocation was finalized during FAAC’s December 2024 meeting held in Abu
The total distributable revenue comprised:
Statutory Revenue: N455.354 billion
Value Added Tax (VAT): N585.700 billion
Electronic Money Transfer Levy (EMTL): N15.046 billion
Exchange Difference Revenue: N671.392 billion
Gross revenue of N3.143 trillion was available in November 2024. After deducting N103.307 billion for collection costs and N1.312 trillion for transfers, interventions, and refunds, N1.727 trillion was left for distributi
Gross Statutory Revenue: N1.827 trillion in November 2024, a N490.339 billion increase from N1.336 trillion in October 2024.
