The Federation Account Allocation Committee (FAAC) has distributed N1.42 trillion in revenue to Nigeria's three levels of government for December 2024. This allocation, drawn from a gross total of N2.31 trillion, represents a N300 billion increase from November's distribution of N1.72 trillion.

The breakdown of the distribution, announced at FAAC's December meeting chaired by Finance Minister Wale Edun, is as follows:

- Federal Government: N451 billion

- State Governments: N498 billion

- Local Governments: N361 billion

- Oil-Producing States (13% derivation): N113.47 billion

Additional allocations included N84.7 billion for collection costs and N801 billion for transfers, interventions, and refunds.

Value Added Tax (VAT) revenue increased by N20.5 billion to N649.5 billion in December, compared to November's N628.9 billion. From the VAT revenue:

- Federal Government received N90.73 billion

- States received N302.43 billion

- Local Governments received N211.70 billion

However, gross statutory revenue declined significantly by 32.9%, falling to N1.22 trillion from November's N1.82 trillion. The committee reported notable increases in VAT and Electronic Money Transfer Levy (EMTL) collections, while seeing substantial decreases in oil and gas royalties, customs duties, excise duties, and both petroleum and company income taxes.

Exchange difference revenues of N402.7 billion were also distributed, with the Federal Government receiving N188 billion, states N95.4 billion, and local governments N73.5 billion. An additional N45.6 billion was allocated for derivation funds.​​​​​​​​​​​​​​​​