FG, States, LGAs share N1.13 trillion December 2023 revenue

Date:

January 24, 2024.

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Azonuchechi Chukwu.

The Federation Account Allocation Committee (FAAC) says it shared N1.13 trillion among the three tiers of government as revenue from December 2023.

FAAC disclosed this in a communiqué issued at the end of its latest meeting, according to a statement by the Director (Press and Public Relations) of the Office of Accountant General of the Federation, Bawa Mokwa on Tuesday.

The total figure shared for December represents an increase of N40 billion or 3.67% compared to the N1.09 trillion shared for November 2023.

The total amount includes gross statutory revenue, Value Added Tax (VAT), Companies Income Tax (CIT), Augmentations from Forex and Non-oil Mineral Revenue, and electronic money transfer levy (EMTL), among others.

The breakdown of the N1.13 trillion distributable revenue includes N363.2 billion in statutory revenue, N458.6 billion in Value Added Tax (VAT) revenue, N17.9 billion in Electronic Money Transfer Levy (EMTL) revenue, and N287.7 billion in Exchange Difference revenue.(www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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