The Federal Government, states, and Local Governments have shared N1.298tn generated in September 2024 and distributed in October.
This was according to a press statement by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The amount shared this month is a 7.9% increase from the N1.203tn shared in the previous month. According to the statement, the figures were disclosed by the Federation Accounts Allocation Committee at its October 2024 meeting in Abuja.
The statement noted, “The N1.298tn total distributable revenue comprised distributable statutory revenue of N124.716bn, distributable Value Added Tax revenue of N543.518bn, Electronic Money Transfer Levy revenue of N18.445bn, Exchange Difference revenue of N462.191bn and Augmentation of N150.000bn.”
FAAC reported that the total revenue available in September 2024 was N2.258tn. After deducting N80.993bn as collection costs and N878.946bn for transfers, interventions, and refunds, the net amount available for distribution stood at N1.298tn.
