Federation Account Allocation Committee (FAAC) (JUNE 2019 Disbursement)
The Federation Account Allocation Committee (FAAC) disbursed the sum of N679.7bn to the three tiers of government in June 2019 from the revenue generated in May 2019.
The amount disbursed comprised of N571.73bn from the Statutory Account, N106.83bn from Valued Added Tax (VAT) and N1.41bn exchange gain differences.
Federal Government received a total of N284.16bn from the N679.70bn. States received a total of N187.61bn and Local Governments received N140.10bn. The sum of N40.44bn was shared among the oil producing states as 13% derivation fund.
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N5.55bn, N11.03bn and N5.92bn respectively as cost of revenue collections.
Data source: National Bureau of Statistics