A total sum of 1.3 trillion naira has been Disbursed to the federal, state, and local government areas for July.
The Federation Accounts Allocation Committee (FAAC) meeting in Abuja in August 2024 featured the announcement of the income allocation.
According to an FAAC communiqué, the Federal Government received N431.079 billion and the State Governments received N473.477 billion of the 1,358 trillion naira total distributable revenue.
The figure comprises a distributable revenue of 161 billion naira Value Added Tax (VAT) revenue of N582.307 billion and Electronic Money Transfer Levy (EMTL) revenue of N18.818 billion.
