In November 2024, the Federal Government, state governments, and local councils received a total of N1.727 trillion from the revenue collected that month. This amount was 22.48% higher than the N1.41 trillion shared in October.
This information was disclosed by the Office of the Accountant-General of the Federation (AGF) after the December 2024 meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja.
Bawa Mokwa, the Director of Press and Public Relations at the AGF, explained that the money shared included revenue from statutory sources, Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), and exchange differences.
The statement confirmed, “A total of N1.727 trillion, which is the revenue from the Federation Accounts for November 2024, has been distributed among the Federal Government, States, and Local Government Councils.”
Revenue Breakdown
- N455.354 billion in statutory revenue.
- N585.700 billion from Value Added Tax (VAT).
- N15.046 billion was received from the Excess Crude Account (EMTL).
- N671.392 billion was generated from exchange rate differences.
The total revenue for November 2024 was N3.143 trillion, which was higher than the previous month. However, N103.307 billion was spent on collecting this revenue, and N1.312 trillion was used for transfers, interventions, and refunds.
