Federation Account Allocation Committee (FAAC) has shared a total  of N636.6 billion April 2022 Federation Account revenue to the federal government, states and local government councils. This was contained in a communiqué issued at the end of the Committee’s virtual meeting in May 2022. 

Citing the communique, Director (Information, Press and Public Relations), Office of the Accountant-General of the Federation, Henshaw Ogubike said theN656.6 billion total distributable revenue comprised distributable statutory revenue of N461.189 billion, distributable Value Added Tax (VAT) revenue of N166.5 billion, and N8.89 billion being Excess bank charges recovered as well as a N20 billion augmentation. 

In April 2022, the total deductions for cost of collection was N29.61 billion, while total deductions for transfers and refunds was N147.65 billion. 

The communiqué confirmed that from the total distributable revenue of N656.6 billion, federal government received N257.6 billion; states received N201.26 billion; while local government councils received N149.25 billion. N48.49 billion was shared to the relevant States as 13 per cent derivation revenue. 

A gross statutory revenue of N635.04 billion was received for April. This was lower than the N933.3 billion received in the preceding month by N298.27 billion.  

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