The Federal Accounts Allocation Committee (FAAC) distributed N1.298 trillion to the Federal Government, states, and Local Government Councils (LGCs) for September., SAVANNAH NEWSNOW REPORTS.
This amount includes N124.716 billion in statutory revenue, N543.518 billion in Value Added Tax (VAT) revenue, N18.445 billion in Electronic Money Transfer Levy (EMTL) revenue, N462.191 billion in Exchange Difference revenue, and N150 billion in Augmentation.
The total revenue for September was N2.258 trillion, with deductions and transfers amounting to N959.939 billion.
The Federal Government received N424.867 billion, states received N453.724 billion, and LGCs received N329.864 billion, with N90.415 billion allocated as derivation revenue to benefiting states.
