The Federation Account Allocation Committee (FAAC), has shared the sum of N1.1 trillion to the Federal Government, states and Local Government Councils (LGCs) for August.
This is contained in a communiqué issued by the FAAC at its September meeting.
The communiqué said the N1.1 trillion total distributable revenue comprised statutory revenue of N357.398 billion, Value Added Tax (VAT) revenue of N 321.941 billion and Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion.
It also comprised Exchange Difference revenue of N229.568 billion and Augmentation of N177.092 billion.
The communiqué said total revenue of N1.48 trillion was available in the month of August 2023.
“Total deductions for cost of collection was N58.755 billion, total transfers and refunds was N254.046 billion and savings was N71 billion.
