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FAAC revenue drops by N303bn in December

  • A total of N1.424 trillion was shared with the federal government, states, and local government councils, as reported by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation.
  • The revenue included N386.124 billion in statutory revenue and N604.872 billion in value-added tax revenue, according to the January Federation Account Allocation Committee meeting.
  • The federal government received N451.193 billion, while state governments received N498.498 billion and local government councils received N361.754 billion from the total distributable revenue.
  • The total gross revenue available in December 2024 was N2.310 trillion, with deductions for cost of collection amounting to N84.780 billion, as stated in the communique from the FAAC meeting.
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