FG,states,local govts share N1.42trn in Jan 2025

The Federation Account Allocation Committee (FAAC) disbursed ₦1.424 trillion to the federal, state, and local governments from December 2024 revenue. This amount came from statutory revenue, VAT, the Electronic Money Transfer Levy (EMTL), and Exchange Difference revenue. The federal government received ₦451.193 billion, state governments got ₦498.498 billion, and local government councils were allocated ₦361.754 billion, while ₦113.477 billion was shared as derivation revenue. The total gross revenue for December was ₦2.310 trillion, lower than November’s ₦1.827 trillion by ₦600.988 billion. VAT revenue increased to ₦649.561 billion, up by ₦20.588 billion from November. Deductions included ₦84.780 billion for the cost of collection and ₦801.175 billion for transfers and interventions before final disbursements.