A total sum of N 1.298 trillion September 2024 Federation Accounts Revenue has been shared to the Federal Government, States and the Local Government Councils.
The revenue distribution was announced at the October 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja.
According to a statement by the of Press and Public Affairs in the Office of the Accountant General, Bawa Mokwa, the N1.298 trillion total distributable revenue comprised distributable statutory revenue of N124.716 billion, distributable Value Added Tax (VAT) revenue of N543.518 billion, Electronic Money Transfer Levy (EMTL) revenue of N18.445 billion, Exchange Difference revenue of N462.191 billion and Augmentation of N150.000 billion.
A communiqué issued by the Federation Accounts Allocation Committee (FAAC) indicated that total revenue of N2.258 trillion was available in the month of September 2024. Total deduction for cost of collection was N80.993 billion while total transfers, interventions and refunds was N878.946 billion.
According to the communiqué, gross statutory revenue of N1.043 trillion was received for the month of September 2024. This was lower than the sum of N1.221 trillion received in the month of August 2024 by N177.426 billion.
