Close Menu
OsunDailyNG
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
OsunDailyNGOsunDailyNG
Subscribe
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
OsunDailyNG
Home ยป FAAC shares N1.149trn January revenue to FG, States, LGs
LATEST

FAAC shares N1.149trn January revenue to FG, States, LGs

OsunDailyBy OsunDailyFebruary 23, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
FAAC shares N786bn May revenue to Tinubu govt, others
Share
Facebook Twitter LinkedIn Pinterest Email
Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162

The Federation Account Allocation Committee, FAAC, shared N1,149.816 trillion January 2024 Federation Account Revenue with the Federal Government, States and Local Government Councils.

Bawa Mokwa, the Director of Press and Public Relations, office of the Accountant General of the Federation disclosed this in a statement on Thursday after the February 2024 FAAC chaired by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun.

The statement explained that the N1,149.816 trillion total distributable revenue comprised distributable statutory revenue of N463.079 billion, distributable Value Added Tax (VAT) revenue of N391.787 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.922 billion and Exchange Difference revenue of N279.028 billion.

Accordingly, the FAAC disclosed that a total revenue of N2,068.154 trillion was available in January 2024.

N78.412 billion total deductions for cost total transfers, interventions and refunds was N639.926 billion, and savings was N200.000 billion.

It added that Gross statutory revenue of N1,151.808 trillion was received for the month of January 2024. This was higher than N875.382 billion received in December 2023 by N276.426 billion.

A further analysis showed that the gross revenue from the Value Added Tax (VAT) in January 2024 was N420.733 billion. This was lower than the N492.506 billion available in December 2023 by N71.773 billion.

It noted that from the N1,149.816 trillion total distributable revenue, the Federal Government received N407.267 billion, the State Governments received N379.407 billion, and the Local Government Councils received N278.041 billion.

Meanwhile, N85.101 billion (13 per cent of mineral revenue) was shared with the benefiting States as derivation revenue.

OsunDailyNG recalls that in January, FAAC shared N1.1 trillion in December 2023 to the federal, state, and local governments.


Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162
FAAC January LGs N1.149trn Revenue Shares States
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
OsunDaily
  • Website

Related Posts

Buhari rallies support for Tinubu on second anniversary

May 28, 2025

Anti-Matawalle protests sponsored by Zamfara Govt – APC group

May 10, 2025

Gunmen kill three security personnel during attack on anti-banditry office in Jigawa

March 6, 2025

Comments are closed.

Facebook X (Twitter) Instagram WhatsApp Telegram Threads
  • Home
  • Privacy Policy
  • Advertise with US
  • Contact Us
  • About Us
© 2025 OsunDailyNG Media Hub. Designed by OsunDailyNG Media Hub.

Type above and press Enter to search. Press Esc to cancel.

Join Osun DailyNG Media Hub

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.