FAAC Shares N903.480bln September Revenue To FG, States, LGs

The Federation Account Allocation Committee (FAAC) has shared N903.480 billion September 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.

A communique issued by the FAAC at its October, 2023 meeting indicated that the N903.480 billion total distributable revenue comprised distributable statutory revenue of N423.012 billion, distributable Value Added Tax (VAT) revenue of N 282.666 billion, Electronic Money Transfer Levy (EMTL) revenue of N10.989 billion and Exchange Difference revenue of N186.813 billion.

Bawa Mokwa, the Director Press and Public Relations, in a statement, stated that according to the communique, total revenue of N1594.763 billion was available in the month of September 2023

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Total deductions for cost of collection was N54.426 billion, total transfers and refunds was N347.857 billion and savings was N289.000 billion.

He said : “Gross statutory revenue of N 1014.953 billion was received for the month of September 2023.

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