The Federation Account Allocation Committee (FAAC),yesterday disbursed a total sum of N1.703 trillion to the three tiers of government and other stakeholders from a gross total of N2.641trillion for the month of January 2025.
The total distributable revenue of N1.703 trillion for the month of January was drawn from Statutory Revenue of N749.727 billion, Value Added Tax (VAT) of N718.781 billion, N20.548 billion from Electronic Money Transfer Levy (EMTL), and an Augmentation of N214 billion.
Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty and CET Levies increased significantly, while Electronic Money Transfer Levy (EMTL) and Oil and Gas Royalty decreased considerably in the reference month.