“Total deduction for cost of collection is N76.647 billion, while total transfers, interventions, and refunds is N1.104 trillion.
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“Total deduction for cost of collection is N80.517 billion; total transfers, interventions and refunds is N903.479 billion.
FAAC in a communique at the end of the April meeting, revealed that the N1,123,391,000,000 total distributable comprised distributable statutory revenue of N311.233 billion, distributable VAT of N511. 879 billion, EMTL revenue of N14.754 billion, and exchange difference of N285.525 billion.
The total distributable revenue of N1,152.756 trillion was drawn from Statutory Revenue of N101.349 billion, Value Added Tax (VAT) of N428.806 billion, N15.157 billion from Electronic Money Transfer Levy (EMTL), and N607.444 billion from Exchange Difference.
He said a breakdown of the revenue receipts showed that the federal government received N3.99 trillion, representing 39.37 per cent of the total allocation.
The Federation Account Allocation Committee (FAAC) has shared ₦1.127 trillion revenue among the federal government, states and local government councils (LGCs) for the month of December 2023.
The Federation Account Allocation Committee, FAAC, said it shared ₦1.783 trillion from November 2023 revenue accrued to the federation account among the country’s federal, state, and local governments.
The Federation Account Allocation Committee (FAAC) has shared ₦1,088.783 trillion to the federal, states and local government councils as statutory allocation for the month of November.
The Federation Account Allocation Committee (FAAC), on Wednesday, shared the sum of N906.955 billion among the three tiers of government as federation allocation for the month of October.
The Nigerian National Petroleum Company Limited (NNPCL), says it is collaborating with the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders to reconcile alleged indebtedness by the company and Federation Accounts Allocation Committee (FAAC).