FAAC Revenue Drops to ₦2.34 Trillion in November Due to Weaker Earnings

The latest report from the Federation Account Allocation Committee (FAAC) reveals a significant drop in revenue to ₦2.34 trillion in November, attributed to weaker earnings from key sources. Inflows declined by ₦591.22 billion compared to the previous month, with reductions in revenue from the Federal Inland Revenue Service and non-oil revenue collections.

Oil-related revenues, however, saw a slight increase. The net revenue available for distribution stood at ₦2.29 trillion after deductions, reflecting a decrease from October's figures.

Various revenue-generating agencies experienced declines in their contributions, impacting the overall revenue pool.