The Federation Accounts Allocation Committee (FAAC) has shared a total of N1.143 trillion to the federal government, states, and local government councils as revenue for May.
This was announced at the end of the committee’s meeting in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The shared revenue comprised of Statutory revenue: N157.183 billion, Value Added Tax (VAT) revenue: N463.425 billion, Electronic Money Transfer Levy (EMTL) revenue: N15.146 billion and Exchange Difference revenue: N507.456 billion
