The Federation Accounts Allocation Committee (FAAC) has disbursed a total of ₦1.727 trillion as revenue for November 2024 among the Federal Government, states, and local government areas.
The distribution was finalized during the FAAC meeting held in Abuja.
The total distributable revenue included ₦455.354 billion from statutory allocations, ₦585.700 billion from Value Added Tax (VAT), ₦15.046 billion from the Electronic Money Transfer Levy (EMTL), and ₦671.392 billion from Exchange Difference revenue.
The gross revenue for November was ₦3.143 trillion, with deductions for collection costs amounting to ₦103.307 billion and ₦1.312 trillion allocated for transfers, interventions, and refunds.
From the total distributable revenue, the Federal Government received ₦581.856 billion, state governments got ₦549.792 billion, and local government councils were allocated ₦402.553 billion.
Additionally, ₦193.291 billion was shared as 13% derivation revenue to oil-producing states.
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