The disclosure was made in a communique issued following the FAAC’s January meeting, chaired by the Accountant General of the Federation, Dr Oluwatoyin Madein.
The breakdown of the ₦1.127 trillion total distributable revenue includes ₦363.188 billion as distributable statutory revenue, ₦458.622 billion as distributable Value Added Tax (VAT) revenue, and ₦17.855 billion as Electronic Money Transfer Levy (EMTL) revenue. Additionally, Exchange Difference revenue accounted for ₦287.743 billion.
The communique revealed that a total revenue of ₦1.674 billion was available in December 2023. After deducting ₦62.254 billion for the cost of collection and allocating ₦484.568 billion for transfers, interventions, and refunds, the gross statutory revenue of ₦875.382 billion was received. Notably, this amount was slightly lower than the ₦882.56 billion received in November 2023 by ₦7.178 billion.
