Gains from Nigeria’s Foreign Exchange devaluation has contributed ₦4.23 trillion to the Federation Account Allocation Committee revenue for the last twelve months.
This is according to a recent report by Agora Policy.
The increased FAAC revenue was reported to have started since the Naira was floated in June 2023.
It stated that FX gains contributed 20.14 percent to the ₦20.99 trillion FAAC revenue in the last year.
“From May 2023 to April 2024, a total of ₦4.23 trillion was shared as exchange gain by FAAC, representing 20.14% of ₦20.99 trillion, which was the gross FAAC revenue for the 12 months,” it stated.
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