NATIONAL BUREAU OF STATISTICS

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Federation Account Allocation Committee (FAAC) 

The Federation Account Allocation Committee (FAAC) disbursed the sum of N426.88bn to the three tiers of government in December 2016 from the revenue generated in November.

The amount disbursed comprised of N240.12bn from the Statutory Account; N38.85bn from exchange gain; N66bn from Excess Petroleum Product Tax (PPT) Account; N75.58bn from Valued Added Tax (VAT) while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC).

Date source: National Bureau of Statistics

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