The Federal Accounts Allocation Committee has said it disbursed N1.2 trillion earned as revenue in August 2024 to the Federal Government, states, and Local Government councils in Nigeria.
The revenue distribution was announced at the September 2024 FAAC meeting in Abuja, a statement by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, stated on Tuesday.
The figure represents a decrease of 11 per cent or N155bn from N1.358tn distributed to the three tiers in July.
The statement read, “A total sum of N1.203tn August 2024 Federation Accounts Revenue has been shared to the Federal Government, states and Local Government councils in the country.”
The OAGF official said the revenue comprised statutory revenue of N186.636bn, Value Added Tax revenue of N533.895bn, Electronic Money Transfer Levy revenue of N15.02bn, and Exchange Difference revenue of N468.25bn.
An analysis…