The National Bureau of Statistics has revealed that the Federation Account Allocation Committee (FAAC) disbursed a total sum of one point one three four trillion naira to the three tiers of government in June 2023.
According to the report, the total amount disbursed which is part of the total revenue generated in May 2023, represents an increase compared to one point zero three trillion naira shared in February, eight-hundred and sixty billion naira in March, eight hundred and seventy-two naira in April, and nine hundred and seventy-six billion naira in May.
Of the total amount disbursed in June, the Federal government received three hundred and sixty nine billion naira, state governments received two hundred and ninety-nine point nine two billion naira, and local governments received a total of two hundred and twenty-one point seven nine billion naira.
“The amount disbursed accumulated from, ₦701.79 billion recorded from the Statutory Account, ₦146.43 billion Exchange rate differential ₦14.97 billion generated from Electronic Money Transfer Levy (EMTL), ₦0.64 billion Exchange gain allocation and ₦270.20 billion generated from Valued Added Tax (VAT).“The sum of ₦41.89 billion was shared among the oil-producing states from the 13% derivation fund,” it stated.
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