A total sum of N1, 358.075 billion July 2024 Federation Accounts Revenue has been shared to the federal government, states and local government councils in the country.
According to a statement issued by the Spokesperson of the Office of Accountant-General of the Federation (OAGF), Bawa Mokwa on Friday, the revenue distribution was announced at the August 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja.
The N1.358 trillion total distributable revenue comprised distributable statutory revenue of N161.593 billion, distributable Value Added Tax (VAT) revenue of N582.307 billion and Electronic Money Transfer Levy (EMTL) revenue of N18.818 billion.
Also included in the total distributable revenue was Exchange Difference revenue of N581.710 billion and Solid Mineral revenue of N13.647 billion.
A communique issued by the FAAC indicated that a total revenue of N2.613 trillion was available in the month of July 2024. Total deduction for cost of collection was N99.756 billion while total transfers, interventions and refunds was N1.156 trillion.
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