Federation Account Allocation Committee (FAAC) (SEPTEMBER 2017 Disbursement)
The Federation Account Allocation Committee (FAAC) disbursed the sum of N637.70bn to the three tiers of government in September 2017 from the revenue generated in August 2017.
The amount disbursed comprised of N550.99bn from the Statutory Account and N86.71bn 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 N273.09bn from the N637.70bn shared. States received a total of N173.81bn and Local governments received N131.04bn. The sum of N41.97bn 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
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National Bureau of Statistics.
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