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


1. The Federation Account Allocation Committee (FAAC) disbursed the sum of ₦1.87 trillion to the three tiers of government in April 2024 from the total revenue generated in March 2024.
2. The amount disbursed comprised:
• ₦1.02 trillion recorded from the Statutory Account,
• ₦285.52 billion from Exchange Gain,
• ₦15.37 billion from Electronic Money Transfer Levy (EMTL), and
• ₦549.70 billion from Value Added Tax.
3. The allocations to the three tiers of government for April 2024 were:
• Federal Government with a total of ₦345.89 billion
• States with a total of ₦398.69 billion, and
• Local Governments with a total of ₦288.69 billion.
4. The sum of ₦90.12 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 Rev enue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received ₦23.53 billion, ₦30.13 billion, and ₦15.87 billion respectively, as cost of revenue collections.. 

Data source: National Bureau of Statistics