The Federation Account Allocation Committee (FAAC) disbursed the sum of N430.16bn to the three tiers of government in January 2017 from the revenue generated in December 2016.

The amount disbursed comprised of N248.72bn from the Statutory Account; N52.85bn from exchange gain; N42.99bn from Excess Petroleum Product Tax (PPT) Account; N79.27bn from Valued Added Tax (VAT) while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC).