The Federation Account Allocation Committee (FAAC) disbursed the sum of N514.15bn to the three tiers of government in February 2017 from the revenue generated in January 2017.

The amount disbursed comprised of N325.08bn from the Statutory Account; N48.37bn from exchange gain; N60.85bn from Excess Petroleum Product Tax (PPT) Account; N73.52bn from Valued Added Tax (VAT) while the sum of N6.33bn was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC).