The Federation Account Allocation Committee (FAAC) shared N750.17 billion among the three tiers of government in January 2023, according to a communiqué issued at the end of the committee’s latest meeting in Abuja on Monday.
The figure represents a decrease of N240.02 billion compared to the N990.19 billion shared in December 2022.
The amount includes gross statutory revenue, Value Added Tax (VAT), electronic money transfer levies, augmentation from non-mineral revenue, and an additional sum of N15 billion from savings.
The Federal Government received N277.33 billion, the states received N244.98 billion, the local government councils got N180.14 billion, while the mineral-producing states received N32.73 billion as derivation (13 percent of mineral revenue).
It was also noted that the gross revenue available from VAT for January 2023 was N250.01 billion, as against N250.51 billion distributed in the preceding month, resulting in a decrease of N0.503 billion.
It added that N13.8 billion from the electronic money transfer Levies was distributed to the three tiers of government as follows.
VAT for January 2023 was N250.01 billion, as against N250.51 billion distributed in the preceding month, resulting in a decrease of N0.503 billion.
It added that N13.8 billion from the electronic money transfer levies was distributed to the three tiers of government as follows.
