FAAC Disburses N2.225tn to FG, States, LGs; Federation Account Grosses N3.635tn

The Federation Account Allocation Committee (FAAC) disbursed a total of N2.225 trillion to the Federal Government, states, and local governments, with the Federation Account grossing N3.635 trillion in August. The disbursement included statutory revenue of N1.792 trillion, VAT of N146.921 billion, and other components.

The federal government received N288.77 billion, states got N187.572 billion, and local governments received N140.864 billion. Oil-producing states received N41.964 billion as derivation, while 13% mineral revenue went to relevant states.

The cost of collection was N141.858 billion, with N1.226 trillion allocated for transfers, interventions, and refunds. This distribution aims to support government operations and service delivery across Nigeria.