The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.96 trillion to the federal government, state governments, and local government councils for the month of December.
According to the News Agency of Nigeria (NAN), the breakdown of the revenue allocation was contained in a communiqué issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation.
FAAC held its statutory monthly meeting in January; however, details of the December allocation were only released recently.
The communiqué stated that the N1.969 trillion total distributable revenue comprised N1.08 trillion from statutory revenue, N846.5 billion from value-added tax (VAT), and N38.11 billion generated from the electronic money transfer levy (EMTL).
The committee also noted a significant increase in VAT revenue, which rose by N350 billion compared to the previous month.
