The Federation Account Allocation Committee (FAAC) disbursed the sum of N835.33bn to the three tiers of government in April 2021 from the revenue generated in March 2021. The amount disbursed comprised of N620.69bn from the Statutory Account, N181.71bn from Valued Added Tax (VAT), N30.00bn from Non-Oil Excess Account, and N2.93bn from Distribution of Exchange Gain.
The Federal Government received a total of N227.95bn from the N835.33bn while States received a total of N187.26bn and Local Governments received N138.37bn. The sum of N40.24bn was shared among the oil producing states from the 13% derivation fund Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N6.92bn, N16.62bn and N9.42bn respectively as cost of revenue collections.
Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N121.75bn was disbursed to the FGN consolidated revenue account; N3.85bn shared as share of derivation and ecology; N1.92bn as stabilization fund; N6.46bn for the development of natural resources; and N5.49bn to the Federal Capital Territory (FCT) Abuja.
Data source: National Bureau of Statistics