…Total revenue of N2.483 trillion was available in the month of June 2024.
…Total deduction for cost of collection was N92.112 billion while total transfers, interventions and refunds was N1,037.407 billion.
WED JULY 17 2024-theGBJournal| The Federation Account Allocation Committee (FAAC), shared a total of N1.354 trillion to the three tiers of government.
The distributable revenue comprised statutory revenue of N142.5 billion, distributable Value Added Tax (VAT) revenue of N523.973 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.692 billion, Exchange Difference revenue of N472.192 billion and Augmentation of N200.000 billion.
Total revenue of N2.483 trillion was available in the month of June 2024. Total deduction for cost of collection was N92.112 billion while total transfers, interventions and refunds was N1,037.407 billion. Gross statutory revenue of N1.432 trillion was received for June 2024.
This was higher than N1.223 trillion received in May 2024 by N208.773 billion. In June 2024, the value-added tax (VAT) generated gross revenue of N562.685 billion, which was N65.020 billion higher than the N497.665 billion available in May 2024.
Of the N1,354.371 billion total distributable revenue, the Federal Government received N459.776 billion, the State Governments received N461.979 billion, and the Local Government Councils received N337.019 billion.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
