Federation Account Allocation Committee (FAAC) (June 2023 Disbursement)

Key Highlights

1. The Federation Account Allocation Committee (FAAC) total disbursement for June, 2023 was sum of N1,134.03 trillion to the three tiers of government from the total revenue generated in May, 2023.
2. The amount disbursed accumulated from, N701.79 billion recorded from the Statutory Account, N146.43 billion Exchange rate differential N14.97 billion generated from Electronic Money Transfer Levy (EMTL), N0.64 billion Exchange gain allocation and, N270.20 billion generated from Valued Added Tax (VAT).
3. The allocations to the three tiers of government for June 2023 were as follows, Federal Government with a total of N369.00 billion, States with a total of N299.92 billion and, Local Governments with a total of N221.79 billion.
4. The sum of N41.89 billion was shared among the oil-producing states from the 13% derivation fund.
5. The Revenue generating agencies comprising Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Department of Petroleum Resources (DPR) received N10.77 billion, N23.62 billion, and N3.85 billion respectively, as cost of revenue collections. 

Data source: National Bureau of Statistics