Federation Account Allocation Committee (FAAC) August 2017 Disbursement
The Federation Account Allocation Committee (FAAC) disbursed the sum of N467.85bn to the three tiers of government in August 2017 from the revenue generated in July 2017.
The amount disbursed comprised of N387.32bn from the Statutory Account and N80.53bn from Valued Added Tax (VAT). No allocation was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC) and no amount was also shared from the Excess Petroleum Product Tax (PPT) Account.
Federal government received a total of N193.05bn from the N467.85bn shared. States received a total of N130.69bn and Local governments received N98.01bn. The sum of N31.59bn was shared among the oil producing states as 13% derivation fund.
Date source: National Bureau of Statistics / Office of The Accountant General of The Federation