Federation Account Allocation Committee (FAAC) (February 2024 Disbursement)

Key Highlights

  1. The Federation Account Allocation Committee (FAAC) disbursed the sum of N2.07 trillion to the three tiers of government in February 2024 from the total revenue generated in January 2024.
  2. The amount disbursed comprised:
  • N1.15 trillion recorded from the Statutory Account,
  • N479.03 billion from Exchange Gain,
  • N16.59 million from Electronic Money Transfer Levy (EMTL), and
  • N420.73 billion from Value Added Tax.
  1. The allocations to the three tiers of government for November 2023 were:
  • Federal Government with a total of N407.27 billion
  • States with a total of N379.41 billion, and
  • Local Governments with a total of N278.04 billion.
  1. The sum of N85.10 billion was shared among the oil-producing states from the 13% derivation fund.


Data source: National Bureau of Statistics