The Federal Accounts Allocation Committee (FAAC) has shared N1
FAAC said the federal government received N374.925 billion, and the state governments received N422.861 billion.
The NNPC said the development was in line with the PIA 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms.
According to the communique, gross statutory revenue of N1.387 trillion was received for July.
“Total revenue of N2.326 trillion was available in the month of February.”
FAAc said that from the N1.127 trillion, the federal government received N383.872 billion, States got N396.693 billion and the LGCs N288.928 billion.
The communiqué said total revenue of N1.48 trillion billion was available in August 2023.
The Federation Account Allocation Committee has given N655.932 billion in revenue for April to the federal, state and local governments.
Revenues from Companies Income Tax (CIT), Petroleum Profit Tax (PPT), Oil and Gas Royalties decreased considerably in August.
However, the balance in the Excess Crude Account (ECA), as at August 24 stands at 470,599.54 million dollars.
