- The sum of N966 billion shared between the three levels is the largest revenue shared this year
- The money includes revenue from gross statutory, VAT, fees on electronic money transfers, and exchange rate differences
- There were notable decreases in the petroleum profit tax, corporate income tax, and oil and gas royalties
The three levels of government split N966.11 billion for July 2023, according to the Federation Account Allocation Committee. The amount is the largest this year, and it marks a small increase of N59.06 billion over the N907.05 billion shared for June 2023.
According to a statement from Bawa Mowa, Director, Press and Public Relations, Office of the Accountant General of the Federation, FAAC, made this disclosure in a communiqué that was released at the conclusion of its most recent meeting on Tuesday in Abuja.
